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GreenBank to acquire remaining 81% stake in Ohio-based insurance agency

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GreenBank to acquire remaining 81% stake in Ohio-based insurance agency

Greenbank Capital Inc. has agreed to acquire 81% of its affiliate portfolio company, Veterans Financial Group LLC.

Upon closing, GreenBank will own 100% of Veterans Financial, an Ohio-based insurance agency that provides insurance brokerage services to veterans, related families and businesses.

GreenBank will acquire the Veterans Financial stake for C$412,966, payable by the issuance of 259,727 GreenBank common shares at a price of C$1.59 per share.

GreenBank intends to expand Veterans Financial through acquiring other insurance agencies in Canada and the U.S.