GNCC Capital, Inc. Confirms An Acquisition And Other Matters

Rhea-AI Summary

GNCC Capital, Inc. (GNCP.PK) has confirmed the acquisition of a Canadian Money Services Business (MSB) as part of a series of synergistic acquisitions. This licensed MSB will offer a range of services, including foreign exchange dealing, money transfers, and cryptocurrency transactions. The acquisition will be financed through a secured loan without issuing new shares. The company plans to enhance communication with shareholders by appointing a public relations firm. The press release also mentions forward-looking statements and potential risks associated with the company's expectations.

Positive

• Acquisition of a licensed Canadian MSB expands service offerings.
• The MSB is authorized to provide various financial services, including cryptocurrency transactions.
• No new shares will be issued for the acquisition, preventing shareholder dilution.

Negative

• The company faces potential risks and uncertainties related to future business performance.

LAS VEGAS, May 12, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCC") confirms that further to our Press Release dated April 28, 2021, that we have agreed with our lenders to make the first of what we expect to be three synergistic acquisitions.

The Company is acquiring a Canadian MSB that is licensed to include: Foreign exchange dealing, Cashing or selling money orders, Money transferring, Transmission of money (or representation of money), cashing cheques payable to customers, Direct IBANS to collect clients' funds in their names, Authorized to Provide Money Remittance, Taking intermediary payments between a payer and a supplier through telecommunication, digital, and IT devices, offering payment services for bills and capable of accepting Wechat payments.

It has an additional license for activity with cryptocurrencies.

This pending acquisition is being facilitated by a secured loan and upon generally accepted commercial terms to your Company. We will not be issuing any of our shares of Common nor Preferred Stock in respect of this initial and further transactions.

We have elected to provide far more detailed information through OTC Market Filings and until such time as we have appointed a PR firm to deal with shareholder communications and investor presentations.

Your Directors wish to quietly get on with business and not have to constantly deal with a barrage of E Mail messages full of demands and coupled with endless vicious attacks on Internet Stock Chat Forums. Your Directors cannot afford to expend management time having to be engaged with these issues.

In summary, we are redoubling our efforts to appoint a suitable and credible Public Relations company to provide our shareholders with information on a daily basis. We, going forward will focus solely on business matters and day to day operations and will not be dealing with shareholder interaction, press releases and other issues that our shareholders deserve from a professional.

We can assure our shareholders that a suitable appointment will be made and as fast as is possible.

We would have preferred to expand upon our planning in this Press Release but following lengthy deliberation, a decision was made late yesterday to leave that to the professionals.

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.

Contact Information:
GNCC CAPITAL, INC.

Telephone: (702) 990-0156
E Mail: corporate@gncc-capital.com

Investor Relations Contact:

E Mail: investor@gncc-capital.com
Twitter: https://twitter.com/gncccapital

View original content:http://www.prnewswire.com/news-releases/gncc-capital-inc-confirms-an-acquisition-and-other-matters-301289783.html

SOURCE GNCC Capital, Inc.

FAQ

What acquisition did GNCC Capital announce on May 12, 2021?

GNCC Capital announced the acquisition of a Canadian licensed Money Services Business (MSB) that offers various financial services, including money transfers and cryptocurrency transactions.

How will GNCC Capital finance the acquisition of the Canadian MSB?

The acquisition will be financed through a secured loan without issuing new shares of Common or Preferred Stock.

What services will the acquired Canadian MSB provide?

The acquired MSB will provide services such as foreign exchange dealing, cashing money orders, money transfers, and cryptocurrency transactions.

What are the implications of the acquisition for GNCC Capital shareholders?

The acquisition is expected to enhance service offerings without diluting shareholder value, as no new shares will be issued.