LAS VEGAS, April 16, 2019 /PRNewswire/ -- GNCC Capital, Inc. (OTC: GNCP) ("The Company" or "GNCC") has received a number of requests for clarification on various subjects.
We address these key subjects as follows:
- Extraction of value for shareholders on Company's Mining Exploration Portfolio; and
- Urgent completion and the filing of our outstanding Quarterly and Annual Reports; and
- Pending and imminent completion of transactions by the Company.
We continue to evaluate various options relating to the Company's Mining Exploration Portfolio. Only options that deliver value to our shareholders are under consideration. Once a decision has been reached, it will be communicated to our shareholders immediately.
The finalization and the filing of our outstanding Quarterly and Annual Reports is our top priority at this time. The Company is in active discussions to secure an extremely valuable Licensing deal and this transaction is now only subject to the Company being restored to that of a Current Filer on the OTC Markets. These Filings are being prepared in line with the recently introduced revised guidelines from the OTC Markets and will include the Quarter ended March 31, 2019.
Shareholders should now expect to see the commencement of these Filings and without further delays. The existing "STOP" sign is very clearly an impediment to our consummation of transactions and this is being rectified as a matter of urgency.
As we stated previously and we now reiterate, that following our acquisition of Colombian based BioCann Pharm S.A.S., a distributor of pharmaceutical grade Cannabis CBD Oils in Latin America; we elected to fairly aggressively add to our interests in the Cannabis and related Sectors. This will include outright purchases of companies, acquisition of minority interests, Joint Ventures, Licensing Agreements and Service provision.
The two M & A Consultants retained to seek out suitable targets and to negotiate with the vendors of businesses currently being offered for sale and that meet our criteria, remain in ongoing negotiations and are conducting due diligence; with a fair number of parties based in both Canada and in the USA.
Due to the sensitivity of ongoing negotiations and with our having signed extensive Non-Disclosure Agreements on each transaction, we are not in a position to provide guidance as to the nature of these transactions.
We are reasonably confident that one of these transactions will be consummated and announced as early as next week. This transaction is considered to be material and is in the Cannabis Sector. Due to the technical complexity of this business, we will compile an extensive data presentation pack on an OTCIQ Filing and providing web site links. This is in order for our shareholders to fully understand that company's business.
The other transaction will be announced as soon as the outstanding Quarterly and Annual Reports have been filed and the "STOP" sign removed by the OTC Markets. That transaction is now solely contingent upon this being remedied. The financing for that transaction is in place.
We will continue to evaluate our shareholders requests for information and will address these additional issues. This will be post our consummation of additional transactions under final review and upon the removal of the "STOP" sign annotation on the OTC Markets.
We have been made aware of numerous rumors circulating. We are not in a position to comment further at this time.
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.
SOURCE GNCC Capital, Inc.