GNCC Capital, Inc. Updates On OTC Tier Status And On Pending Transactions
GNCC Capital (GNCP.PK) announced updates regarding its OTC Markets Compliance status, referencing a response submitted on November 8, 2021. The company aims to regain its PINK CURRENT status, crucial for closing transactions linked to Lithium Projects. Directors believe no further amendments to the Q3 Report are required by OTC Markets Compliance. Shareholders are advised to remain patient as the Corporate Counsel manages the situation. The Annual Report will be filed post-reinstatement, due by December 30, 2021.
- Efforts are being made to regain PINK CURRENT status, which is essential for closing Lithium Projects.
- Directors believe no further amendments to the Q3 Report will be required, indicating compliance progress.
- Delays in reinstatement to PINK CURRENT may hinder transaction announcements.
- Ongoing compliance issues could create uncertainty for shareholders.
LAS VEGAS, Dec. 7, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") refers to our Statement dated November 16, 2021 in which we confirmed that we had submitted further responses to OTC Markets Compliance to review and in respect of the FURTHER AMENDED Q3 Report; and in order for the Company to be reinstated to that of PINK CURRENT. A Link to that Press Release: https://www.otcmarkets.com/stock/GNCP/news/GNCC-Capital-Inc-Further-Updates-On-OTC-Tier-Status?id=331286.
We clearly stated that our last response to OTC Markets Compliance questions was on Monday November 8, 2021. The Company's Corporate Counsel is now dealing with OTC Markets Compliance in order to resolve this issue as we, as Directors; have not as yet, heard back from OTC Markets Compliance.
We confirm that in order close the transactions pertaining to the Lithium Projects, the Company is required to be PINK CURRENT. We have managed to extend the closing timeframe to ensure that the Company is no danger of losing these (or any other) transactions due to these protracted delays in our being restored to that of PINK CURRENT.
We reiterate that in the opinion of the Directors, it is unlikely that OTC Markets Compliance will require any further amended Q3 Reports to be filed. Upon their review of our response of November 8, 2021; we, in our opinion, expect to be reinstated to that of PINK CURRENT without further endless delays. OTC Markets Compliance is not questioning our Filings; they simply requested some clarification on one issue and previously requested a few small amendments; the last were submitted to them on November 8, 2021.
OTC Markets Compliance has confirmed to us that no Attorney Letter is required for Quarterly Reports; that is only required for Annual Reports so it does not apply to the issue at hand whatsoever.
We truly understand that shareholders are extremely anxious for our reinstatement to that of PINK CURRENT in order for ourselves to announce transactions that depend upon our being PINK CURRENT.
We again ask for shareholders to continue to exercise patience for an issue which will be resolved and that there is no need to constantly contact the Company over this issue. Your Directors and the Company's Corporate Counsel have this matter in hand and we are very closely monitoring the situation.
We reiterate that our filings are up to date, were filed on time (the Q3 on August 22, 2021) and our last Filing was an amended filing for our Q3 period (at the request of OTC Markets Compliance on September 23, 2021).
We confirmed on October 27, 2021 that the Company's Annual Report and the Attorney Letter for the Year Ended September 30, 2021 will be filed on the OTC Markets; upon the Company's being reinstated as PINK CURRENT. This Annual Report is due on or before December 30, 2021.
We remain of the opinion that is not appropriate to file the above-mentioned Annual Report until the reinstatement to PINK CURRENT by OTC Markets Compliance.
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 is the current status of GNCC Capital's OTC Markets Compliance?
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