GNCC Capital, Inc. Confirms Material And Final Transactions Brought To A Close
GNCC Capital, Inc. (GNCP.PK) announced important developments in a press release dated September 3, 2021. The Company plans to file an amended Q3 Report this weekend, aiming to regain PINK CURRENT status. Key highlights include decisions on gold and silver exploration properties and intentions to pursue fundraising for lithium interests and an operating business to generate revenue. Furthermore, Premier Development & Investment, Inc. (PDIV) will increase its stake in GNCP to approximately 45%. The Company is also seeking to reconstitute its Board of Directors by year-end 2021.
- Amended Q3 Report is expected to restore PINK CURRENT status.
- Premier Development & Investment's planned increase in ownership to 45% shows confidence in GNCP.
- Intentions to pursue fundraising for lithium exploration could lead to significant future revenue.
- No immediate financial metrics were provided to assure investors of performance.
- The lack of a clear timeline for raising funds might delay potential revenue generation.
LAS VEGAS, Sept. 3, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") last issued a Press Release on July 20, 2021 in which we went into great detail. We strongly recommend that our shareholders refresh their memories by reading this Press Release and prior to the reading of today's Statements. A Link to that Press Release: https://www.otcmarkets.com/stock/GNCP/news/GNCC-Capital-Inc-Confirms-That-It-Is-In-Very-Material-And-Final-Discussions?id=312313.
We have finally reached decisions on all material issues and will briefly highlight these issues in this Statement.
It is our intention to go into great detail on each of these (and other) points in a very detailed Chairman's Statement within a week. Given the Monday holiday followed by two days of religious holidays next week; we considered it prudent to wait a week before explaining our decisions which are now final and not retractable.
- The amended Q3 Report complete with requested additions from OTC Compliance will be filed this weekend. Expect five business days from Tuesday for the Company to be restored to that of PINK CURRENT.
- The OTC Markets Tier Change was very temporary and in no way affected any transactions being completed.
- A decision has been reached upon the Company's existing Gold and Silver Exploration Properties.
- We fully intend to pursue a Fund Raising in order to obtain the capital required to close upon the previously discussed Lithium Exploration interests.
- We intend to raise the funds required to acquire an operating business as previously outlined and in order to generate revenues and cash flow.
- We can confirm that Premier Development & Investment, Inc. (OTC. PDIV) ("Premier") as the Company's largest shareholder, will be raising its stake in your Company to around
45% of the outstanding shares of Common Stock. Premier is committed to the long term growth of this Company, intends to remain as a passive shareholder and will not be seeking a controlling interest, any takeover bid nor the acquisition of any of the Company's interests.
Given that your Directors also serve on the Board of Directors of Premier, all transactions between your Company and Premier will be conducted on an arm's length basis.
Your Directors decisions have not and will not be driven by day to day; nor month to month trading in our Common Stock, nor the pricing of your Company's shares in the market from time to time. The Company's share price in absolutely no way affected any of the decisions reached.
Finally, as your Directors previously indicated, we will definitely be seeking a reconstitution of the Board of Directors of the Company. It is hoped that this can be accomplished by year end of 2021. In short, we intend to hand over to a Board that is better suited to manage the needs of our shareholders.
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
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SOURCE GNCC Capital, Inc.
FAQ
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