File: '\\swfile\EmailIn\20240624 104816 Attachment Green Bank. Transaction Termination news release (W0433381x109181).doc'

GREENBANK VENTURES INC. ANNOUNCES TERMINATION OF PENDING TRANSACTION

Vancouver, British Columbia, June 24, 2024 - Greenbank Ventures Inc. (NEX: GNBK.H) (the "Company"), has determined not to proceed with the acquisition of Greenbank Holdings US Inc. ("Greenbank Holdings") at this time, as previously announced.

On June 2, 2021, the Company entered into a Share Exchange Agreement (the "Share Exchange Agreement") with Greenbank Holdings, pursuant to which the Company would acquire all shares of Greenbank Holdings in consideration for 17,000,000 common shares of the Company. On April 7, 2024, the Company and Greenbank Holdings signed an agreement whereby both parties agreed to terminate the Share Exchange Agreement, and exchange and convert a US$250,000 promissory note and accrued interest due to the Company into 2,000,000 common shares of Greenbank Holdings.

The Company is now exploring strategic alternatives which may include without limitation, a private placement or other offering of equity or debt, the sale, lease or financing of certain assets of the Company, or a sale of, merger or other business combination, joint ventures or strategic alliances with the Company.

The Company has not established a definitive timeline to complete its review and no decision on any particular alternative has been reached at this time. There can be no assurance that this process will result in the successful conclusion of any specific transaction. In accordance with its current and periodic reporting requirements, the Company will disclose further developments with respect to this process pursuant to such obligations.

About the Company

Greenbank Ventures Inc. is a British Columbia based Company that is primarily engaged in real estate development. The Company is listed on the NEX board (NEX) under the trading symbol GNBK.H. A wholly owned subsidiary, Salt Resorts Inc. was formed to acquire real estate property for development purposes.

For further information please contact:

Andreas Schleich

andreasschleich@gmail.com

604.724.7426

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results; performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. Such statements include, but are not limited to, the conditions and requirements to the completion of and transaction. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including risks and uncertainties relating to the Company's ability to identify, evaluate and complete a further transaction and other risks and uncertainties, including those described in the Company's regulatory filings available on www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.