NEW YORK, Oct. 15, 2015 /PRNewswire/ -- GNCC Capital, Inc. (OTC: GNCP) ("The Company") filed on October 14, 2015 the details on its re-organization of its Mining Exploration Portfolio.
The filing was made on the OTC Markets Filing and Disclosure Service, a link to this filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=145536.
The Company's Directors acknowledge that this re-organization was very material; but was considered to be commercially prudent. The changes to our Portfolio were brought about following many months of deliberations and consultations with potential Joint Venture Partners and external Consultants.
To summarize, the Company has significantly increased its exposure to Silver Exploration whilst maintaining some core interests in Gold Exploration.
The rationale for this re-organization was:
- To increase the Company's interests in Silver Exploration; and
- To eliminate Company expenditure on Mining Exploration Properties that are not as attractive to potential Joint Venture Partners; and
- To allow the Company's Directors to concentrate on Mining Exploration Properties that are considered to be very attractive to potential Joint Venture Partners.
We confirm that:
This reorganization does not affect, nor increase, the shares of our outstanding Common Stock, outstanding Convertible Loan Notes; nor any of the classes of Preferred Stock in issue. The Company, in these transactions, has not assumed any additional debt whatsoever.
The Company's Directors continue to seek alliances and partnerships that we expect over time, to allow us to monetize our Mining Exploration interests.
We will be publishing very detailed information on these properties on the OTC Markets "Video & Presentations" Service, this being due to the size of these presentations. These presentations will be published in this calendar week.
The Company's Directors are now in a position to confirm that this re-organization was the final phase of a restructuring plan that Management has been implementing for some time.
Additional Material Events:
The Company's Directors reiterate that they are in ongoing negotiations, are now extremely active in seeking acquisitions, financing and conducting due diligence on transactions; in order to diversify the Company into other Industry Sectors.
It is envisaged that further updates and/or consummated transactions will be forthcoming; and within this Fiscal Quarter.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is intending to become a Diversified Holding Company which at present has significant assets in Gold & Silver Mining Exploration in Arizona and Nevada.
The Company holds additional investments including a 70% interest in ASPA Gold Corp (OTC: RENS).
The Company intends to continue to diversify into other Industry Sectors through acquisitions and as they present themselves; only upon our stated criteria. The Company is a Current Information Filer on the OTC Markets.
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
Telephone: (702) 951-9793
E Mail: [email protected]
[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]
SOURCE GNCC Capital, Inc.