NEW YORK, May 2, 2013 (GLOBE NEWSWIRE) -- GNCC Capital, Inc. (Pink Sheets:GNCP) ("the Company") announced on March 1, 2013 that it was evaluating the potential acquisition of a Gold Exploration Property which is significantly larger and more developed than any other exploration property in its present portfolio.
The Company is now in a position to report that it expects to complete this acquisition very shortly, following extensive due diligence and deliberations.
The completion of this acquisition significantly increases the Company's size and its exposure to the Gold Sector.
The Company remains committed to the Gold Sector, views the recent dip in Gold prices as an opportunity and remains very bullish on this Sector over the medium and long term. Naturally, the Company remains solely focused on Properties that meet our 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. The Company remains committed to its long standing pledge not to issue additional shares of its Common Stock.
The Company, upon the completion of this acquisition, will substantially increase the amount of the existing $1,000,000 Credit Facility from Diamond Peak and source additional available credit facilities, should it so require.
The Company is completing its new and updated web site and creating a Social Media Platform, as part of a recently initiated plan to significantly raise investor awareness of the Company.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is primarily a Gold Exploration Company, with a secondary focus on Silver Exploration. The initial exploration properties are located in Arizona and consist of "Esther Basin, Burnt Well, Clara, Kit Carson, Silverfields and Potts Mountain". The Company intends to create significant value for its initial portfolio of properties through continued exploration, joint ventures, and through the acquisition of additional Gold and Silver Exploration assets. GNCC Capital, Inc. is a current information filer on the OTC Markets under the symbol "GNCP'.
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: GNCC CAPITAL, INC. N.E. "Ted" Blom - President & CEO Telephone: (702) 942-3347 E Mail: firstname.lastname@example.org Investor Relations Contact: E Mail: email@example.com Web Site: www.gncc-capital.com [We would be very appreciative if all investor questions be directed to this E mail address and not to our telephone voicemail until such time as we have appointed a dedicated Investors Relations Firm whom will deal with all telephonic enquiries]
Source:GNCC Capital, Inc.