GBank Financial Holdings Inc. Announces Completion of Restructured Transaction with BankCard Services, LLC

LAS VEGAS, June 26, 2024 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH), the parent company for GBank (the "Bank"), and BankCard Services, LLC ("BCS"), today announced the successful closing of their restructured transaction. The Company has acquired a 32.99% non-voting equity interest in BCS by exchanging 231,508 shares of restricted, non-voting GBFH common stock for 143,371 shares of non-voting BCS common stock. The GBFH non-voting stock must be held by BCS for a period of no less than one year and is only convertible into voting shares if there is a deposition by BCS in accordance with applicable Federal Reserve regulations.

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