GNCC Capital, Inc. Completes Acquisitions of Additional Mineral Exploration Properties and Its Reorganization
30 Juni 2014 - 6:27PM
Business Wire
GNCC Capital, Inc. (OTC: GNCP) (“The Company”) confirms that is
has completed its reorganization and its Mining Exploration
acquisitions as set out in a press releases dated June 11, 2014 and
June 18, 2014.
The Company confirms that its acquisition of the “Alamo, North
Rawhide and McCracken” Mining Exploration Properties has been
completed. These were acquired by Walker Lane Exploration, Inc., a
wholly owned subsidiary of the Company. The full acquisition price
of these properties was settled through the issuance of recently
designated shares of Series C Preferred Stock.
The Company has significantly increased the size and scope of
its Mining Exploration Properties through these acquisitions.
The Company has now been reorganized as a Holding Company. Three
of its wholly owned subsidiaries being engaged in Mining
Exploration. The Company assigned its interests in its “White
Hills” Exploration Properties to White Hills Exploration, Inc., a
wholly owned subsidiary of the Company. The Company has completed
upon the assignment of its entire rights, title and interest in its
“Ester Basin, Kit Carson, Burnt Well, Clara, Silverfields and Potts
Mountain” Exploration Properties to Mohave Consolidated
Exploration, Inc., a wholly owned subsidiary of the Company.
Full details are being filed by the Company on the OTC Markets
Disclosure Service during the course of today. These transactions
will be accounted for in the Company’s Third Quarter ending June
30, 2014.
As the Company has now completed its reorganization, the Company
is in the final stages of acquiring an initial two companies in
unrelated Industry Sectors. It is intended that the Company evolve
into a Diversified Holding Company with an emphasis on strong cash
generation and earnings per share.
We are now in a position to confirm that the Company’s two
initial acquisitions (subject to the fulfilment of conditions
precedent) are operating in the gaming business and in futures
trading.
It is expected that the first of these acquisitions will be
completed and announced this week. These acquisitions are of
profitable, cash generative companies with significant scope for
accelerated earnings growth. The consolidation of these earnings
and cash flow will only be reflected in the Company’s Fourth
Quarter ending September 30, 2014.
The Company is now in a position to complete and file its Second
Quarterly Report for the period ended March 31, 2014. This will
clearly reflect the post reporting period transactions and their
effect upon the company’s financial statements.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Holding Company which at present has
subsidiary companies engaged in Mining Exploration, primarily in
Gold, with a secondary focus on Silver. The exploration properties
are located in Arizona and consist of “McCracken, Alamo, North
Rawhide, White Hills, Esther Basin, Burnt Well, Clara, Kit Carson,
Silverfields and Potts Mountain". The Company intends to diversify
into other Industry Sectors through acquisition. GNCC Capital, Inc.
is a Current Information Filer on the OTC Markets.
Forward-Looking Statements:-
This press release may contain forward-looking statements. The
words "believe," "expect," "should," "intend," "estimate,"
"projects," variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company's current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company's filings, which are on file with the OTC
Markets Group.
GNCC CAPITAL, INC.Ronald Y Lowenthal,
702-951-9793Executive Chairmancorporate@gncc-capital.comorInvestor
Relations:investor@gncc-capital.comWeb Site:
www.gncc-capital.comTwitter: https://twitter.com/GNCCCapital[We
would be very appreciative if all investor questions be directed to
this E mail address and not to our telephone voicemail until such
time as we have appointed a dedicated Investors Relations Firm whom
will deal with all telephonic enquiries]
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