NEW YORK, Oct. 8, 2015 /PRNewswire/ -- GNCC Capital, Inc. (OTC: GNCP) ("The Company") provides a brief statement on its existing operations and updates on potential transactions.
Mining Exploration Portfolio Re-Organization:-
The re-organization of our Mining Exploration portfolio has been finalized. Full details will be filed and communicated to the market on Monday, October 12, 2015.
The Company has significantly increased its exposure to Silver Exploration whilst maintaining our interests in Gold Exploration. We confirm that:-
This reorganization does not affect, nor increase, the shares of our Common Stock nor any of the classes of Preferred Stock in issue. Nor will it in any way result in the Company assuming any additional debt whatsoever.
The primary purpose of this reorganization is to allow us to focus on interests that are attractive to potential Joint Venture Partners. This was the final phase of a restructuring plan that Management has been implementing for some time.
The Company's Directors continue to seek alliances and partnerships that we hope will allow us to monetize our Mining Exploration interests and within in a reasonable time frame. The Company's interests in Mining Exploration are operated solely through three wholly owned subsidiary companies and will be kept separate from proposed other Non-Mining Interests potentially being acquired.
Potential Transactions unrelated to Mining Exploration:-
The Company's Management has been in discussions for many months on the acquisition of cash generating, established and sound businesses in order to generate revenues, profits and operating cash flow. These businesses would have to be acquired for cash. To that end, the Company's Directors are in discussions with financiers, consultants in various areas and with vendors.
It is now extremely likely that the Company will commence with these acquisitions in a relatively short period of time, which if successful, could have a very material effect upon the Company. Should certain of these proposed transactions now at an advanced stage of consideration, be implemented and consummated, the Company will be utilizing significant sums of cash; this will, without question:-
Result in a number of significant changes to the Company, its Management and to its perception within the investment community.
This is considered to be of paramount importance given the weak stock price, a "no bid" in the market and its non-performance in 2015, a situation which has become wholly unacceptable.
The Company's Directors confirm that they renewed the Stock Repurchase Program as filed as the OTC Markets Disclosure Service on September 24, 2015. The Company's fiscal year end is September 30, 2015 and the Directors will ensure the publication of the Company's Annual Report in October of 2015 to ensure no delays in the implementation of this Stock Repurchase Program.
The Company's Directors will update stockholders as transactions are consummated.
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.
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@example.com
[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.