Ubique Minerals expands mining interests to Namibia

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Ubique Minerals expands mining interests to Namibia

GreenBank Capital Inc.’s portfolio mineral exploration company Ubique Minerals Limited (“Ubique”) has expanded its global mining interests to Namibia with a significant share acquisition.

Toronto-based Ubique, of which GreenBank owns over 20%, has secured 24.99% of the existing shareholding of Resource 500 V ltd (“R500”), an Irish mineral exploration interest holding six Exploration Licenses (“EPLs”) in Namibia.

These sites, primarily in the northern part of the country, are recognised to be potentially rich in high-grade ore of zinc, copper, lead, cadmium, and other metals, and historically have been subject to less intense exploration and mining than other regions of Namibia.

This significant minority shareholding in R500 by Ubique Minerals is the latest strategic investment to bolster GreenBank Capital’s credentials as an identifier and enabler of highly scalable, highly profitable companies around the world. Ubique also owns interests in the Daniel’s Harbour zinc exploration property in Newfoundland Canada at a time when the global demand for zinc appears to be increasing to meet the requirements for energy grid-level battery storage, a key component in the move to decarbonisation.

Public listing

Ubique’s investment in R500 follows a series of successful developments in the three years since the firm’s public listing. In August 2021, it secured Private Placement Financing to fund key drilling operations in Newfoundland, $200,000 of which was provided by GreenBank Capital. Mark Wettreich, chairman of GreenBank, holds a seat on Ubique’s Board of Directors.

Ubique is a mineral exploration company listed on the CSE (CSE:UBQ). It was funded for its first two years by private equity including that from GreenBank. With the help of GreenBank’s consulting services, Ubique became a publicly listed company in September 2018. The company has an experienced management group who have a track a record of multiple discoveries of mineral deposits worldwide and owns an extensive and exclusive database of historic exploration results from sites in Newfoundland and Labrador.

“We have great confidence in Ubique’s management team, and this substantial share acquisition of Resource 500, and subsequent interest in its operations in Namibia, is an exciting next step in its fast growth equity story. We look forward to continued progress in future,” Terry Pullen, CEO of GreenBank Capital, said.

 

 

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