GNCC CAPITAL, INC. SETS OUT ACTIONS TO BE UNDERTAKEN

Rhea-AI Summary

GNCC Capital, Inc. (GNCP) has announced important strategic decisions aimed at enhancing their Gold & Silver Mining Exploration interests and pursuing Lithium Exploration properties. The Company’s Directors believe updating geological data and increasing claim blocks will be beneficial. They are also determined to eliminate ongoing delays and are actively exploring options for swift resolutions, which may involve significant changes, including potential reconstitution of the Board. Importantly, the Company has ruled out any reverse stock split. Shareholders can expect updates soon, contingent upon third-party cooperation.

Positive

• Plans to enhance Gold & Silver Mining Exploration by updating geological data and expanding claim blocks.
• Pursuing Lithium Exploration properties as part of strategic growth.
• Restored to PINK CURRENT Tier on OTC Markets, enhancing credibility.

Negative

• No specific timelines committed for actions, potentially leading to uncertainty.
• The potential reconstitution of the Board may cause instability.

LAS VEGAS, Jan. 21, 2022 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") refers to their Press Release dated January 18, 2022 and after considerable thought have now come to the following conclusions and decisions and as set out below.

1. The Company's Gold & Silver Mining Exploration interests in the opinion of your Directors would benefit considerably by increasing certain of the claim blocks and having all of the existing geological data updated. Furthermore, your Directors wish to undertake further but limited exploration work at these properties. Your Directors believe that to dispose of these properties at this time is not in the interests of the Company or its shareholders.
    
   To that end, planning and the sourcing of funding to achieve this; is being undertaken.
    
2. Shareholders are aware of our intentions to pursue the acquisition of Lithium Exploration properties and refer shareholders to our Press Release dated January 11, 2022. We will update shareholders accordingly.
    
3. Your Directors have concluded that further delays in the Company's progress on a number of fronts is now completely unacceptable to themselves and to the Company's shareholders. We will no longer tolerate endless delays caused by third parties or be dictated to by factors that are beyond our control. Therefore we have decided to actively pursue a number of available options which are achievable in a relatively short period of time. We acknowledge and advise that certain of these options will result in a number of material changes to the Company. 
    
   To that end, your Directors are pursuing these options with a view to swift closure. To those whom accuse us of "kicking the can down the road"; we are now telling you that this is absolutely not the case, that your Directors are now personally insistent upon swift resolutions to various available options available to the Company and finally; that your Directors personally want immediate results.
    
   This may well result in a reconstitution of the Board of Directors. In this event, your Directors, if remunerated accordingly, are prepared to remain as Consultants and in respect of the Company's Mining Exploration interests. Any such reconstitution is unlikely to affect any of your Company's planned and stated objectives.
    
   Your Directors are now in a position to now act immediately upon various available options that have been presented; given that the Company has been restored to the PINK CURRENT Tier on the OTC Markets.

Given your Directors decisions, shareholders should expect various actions to be announced and in a short period of time. We can assure our shareholders that we will not under any circumstances consider any courses of action that are not of material benefit to the Company.

Under no circumstances will the Company be effecting any Reverse Split of its Common Stock whatsoever; that decision remains "set in stone".

In respect of timelines, your Directors will not commit to exact dates. That being said, we intend to pursue options with the view to our only considering actions that can be enacted in a very short period of time.

Your Directors firmly believe that your Company would benefit from our pursuing these actions and for the shareholders to be represented by a Board of Directors that is proactive and receptive to shareholder requirements pertaining to timelines, closure of transactions and numerous other issues desired by shareholders.

Shareholders should now expect to be updated further and in all likelihood by as early as this month.*

*The timing being subject to certain third party co-operation which your Directors intend to demand and to obtain.

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

Investor Relations Contact:

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

View original content:https://www.prnewswire.com/news-releases/gncc-capital-inc-sets-out-actions-to-be-undertaken-301465939.html

SOURCE GNCC Capital, Inc.

FAQ

What actions is GNCP planning for its Gold & Silver Mining Exploration properties?

GNCP plans to update geological data and expand claim blocks to enhance its Gold & Silver Mining Exploration interests.

When can shareholders expect updates from GNCP regarding its strategic decisions?

Shareholders can expect updates from GNCP soon, although timelines depend on third-party cooperation.

Will GNCP conduct a reverse stock split?

GNCP has confirmed that it will not undertake any reverse stock split of its common stock.

What is GNCP's strategy regarding Lithium Exploration properties?

GNCP intends to pursue the acquisition of Lithium Exploration properties as part of its growth strategy.

How has GNCP addressed delays in its business progress?

GNCP's Directors are actively seeking swift resolutions to eliminate ongoing delays and have expressed a commitment to immediate results.