Scottsdale 5/4/2013 3:00:00 AM
GNCC Capital (GNCP) Nears Acquisition of Largest Project To-Date
Property is significantly larger and more developed than any other GNCC Capital property
QualityStocks would like to highlight GNCC Capital, Inc. (OTCBB: GNCP), a gold and silver exploration company with six different projects, all of which were carefully selected due to their outstanding characteristics. The company’s geologists will supervise an extensive exploration program for these projects to prove up reserves through geological surveys and a substantial number of carefully planned drilling programs.
In the company’s news,
GNCC Capital expects to soon complete acquisition of an important gold property. Approximately two months ago, GNCC Capital announced that it was evaluating the potential acquisition of the property. Notably, the property is significantly larger and more developed than any other exploration property in the company’s present portfolio.
GNCC Capital is now able to tell investors that it anticipates completing this acquisition very shortly, following extensive due diligence and deliberations. Completing this acquisition will significantly increase the company’s size and its exposure to the gold sector.
Emphasizing its bullish outlook on gold over the medium and long term, the company reaffirmed its commitment to the gold sector and said it views the recent dip in gold prices as an opportunity. GNCC Capital is solely focused on properties that meet its criteria for low-cost extraction.
This acquisition will be funded through the issuance of a combination of new Preferred Stock in the company and long term loan notes. GNCC Capital remains committed to its long-standing pledge not to issue additional shares of its Common Stock.
Upon completion of this acquisition, GNCC Capital will substantially increase the amount of the existing $1 million credit facility from Diamond Peak and source additional available credit facilities, should it so require.
In other news, GNCC Capital said it is completing a new and updated web site as well as creating a social media platform, as part of a recently initiated plan to boost investor awareness of the company.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
