GNCC Capital, Inc. Outlines Its Immediate Business Plans
GNCC Capital, Inc. (GNCP.PK) outlines immediate business objectives and planning amidst significant unsolicited offers. The company is focusing on its Gold and Silver Mining Exploration Claims, considering a possible sale with proceeds potentially distributed as dividends. They are also exploring expansion and renegotiation of claim terms. Additionally, GNCC is evaluating capital offers in the Cannabis, Lithium, and Cryptocurrency sectors, with a preference for Lithium investments. The aim is to unlock shareholder value and pursue acquisitions that generate sustainable revenue and profits.
- Exploring immediate sale of mining claims, potentially distributing dividends to shareholders.
- Directors remain bullish on Gold and Silver prices, which may enhance asset value.
- Evaluating significant capital offers for acquisitions in sectors like Lithium.
- Uncertainty in Cryptocurrency sector due to lack of understanding and regulatory doubts.
- No substantial progress detailed on finalizing business opportunities or acquisitions.
LAS VEGAS, April 28, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCC") has elected to set out its immediate objectives and business planning given that our shareholders have been patiently awaiting updates. We will keep this brief and to the point. More detailed information will be provided on a going forward basis. Our upcoming Annual Chairman's Letter will address all other business matters.
For what is now in excess of three months, we have been operating under vastly different circumstances given our stock price and its liquidity. This has led to multiple unsolicited offers and deal proposals but most importantly; has placed us in the position to raise cash and on reasonable terms.
In respect of our interests in Gold and Silver Mining Exploration Claims, we are still exploring and in the process of finalizing a number of avenues, principally:-
- An immediate sale and the proceeds being distributed to our Shareholders in the form of a Dividend; and/or
- Expending cash on expanding our Claim Blocks, undertaking further exploration work and re-negotiating the terms under which we operate those Properties. This would be over the next two months. That in our opinion, would create a substantial increase in the value of our Properties, equating to a far higher sale price and larger Dividends to our Shareholders.
In August of 2020 and at the peak of Gold prices; we had already formulated a sale and Dividend plan, including the process and the timing. Your Directors remain very bullish on the prices of both Gold and Silver going forward and therefore recognize that timing is vital in order to extract maximum value for our shareholders.
A final decision as to our course of action will be taken very shortly.
Insofar as other business opportunities, we can confirm that we have received offers of not insignificant capital if we were to agree to acquire a business or businesses in either of the Cannabis, Lithium or Cryptocurrency Sectors.
Your Directors understand the Lithium business as it falls under our area of expertise. We are exploring a potential transaction; if it is feasible and the final terms are acceptable; yes, we would close any such deal(s). That is our preferred route at this point of time.
In respect of Cannabis, we are not experts by any means but have learnt enough from previous forays into the Sector. We would only agree to any such deal if the target Company is well established and has competent Management in place whom would continue to operate and grow the Company. It would have to be revenue producing, profitable and have not unreasonable Capex requirements. We have discussed this with Industry professionals are exploring possible acquisitions and within our criteria. We will immediately inform shareholders if we can agree upon a target acquisition.
In respect of the "Cryptocurrency Sector", we have reservations. We do not know nor understand that Sector and would prefer that it was operating in a regulated environment. That being said, we cannot ignore that major Banks, Financial Institutions, famed Fund Managers and Global Fintech companies have embraced and endorsed this asset class. To that end, we have retained a Consultant/Broker to examine various companies currently for sale in that Sector. If needs be, we would be prepared to step aside as Directors or become Non-Executive Directors; in order to facilitate any such acquisition in that Sector. We do not believe that we as Directors could add value to that area of business. Needless to say, we will act in the best interests of our shareholders and if any such deals currently on offer can be consummated; we would not act contrary to our shareholder interests.
To summarize, our key objective is to finally unlock value for our shareholders and to provide the Company with an acquisition(s) that can provide (a) growth and be appealing to investors; and (b) stable sustainable sources of both revenue and profits.
Needless to say, we will be updating shareholders on an ongoing basis now.
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
What are GNCC Capital's immediate business plans as of April 2021?
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