NEW YORK, June 20, 2013 (GLOBE NEWSWIRE) -- GNCC Capital, Inc. (Pink Sheets:GNCP) ("the Company") announces as follows:
Further to an initial announcement of May 20, 2013, the Company confirms that it has now completed the acquisition of the "White Hills" Gold Exploration Properties.
The terms of the acquisition are as detailed and disclosed in its filing dated May 20, 2013, a link to the filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=104992.
Management is of the opinion that this acquisition, coupled with existing portfolio properties should secure an enhanced economic base for the Company going forward.
"White Hills" is a Gold Exploration Property that comprises a number of Lode and Placer Claims on 1,680 acres in Arizona. This is an advanced Exploration Property and meets the Company's requirements for potential low cost extraction.
Key points of this Acquisition:
- The Company does not require any additional funding in this fiscal year in order to achieve their stated objectives. The Company's management has secured the requisite funding to meet its stated objectives for this fiscal year
- The Company now has a significantly larger base of sound economic and potential low cost production Gold Mining Assets. Given the Company's stated objectives, this acquisition is expected to move the Company into a Joint Venture / Revenue Producing Arena; at an accelerated rate, as previously envisaged by the Company's Management.
- The Company's strategy is to generate revenue streams from the Joint Venture Agreements on its Properties, the proceeds to be deployed in the acceleration of exploration for other potentially viable Gold Properties in its portfolio, thereby leading to further Joint Venture Agreements, and cash flow.
- The Company will also expend funds on further development on certain of its properties with a view to a sale of advanced stage exploration properties.
MONETIZATION OF CERTAIN OF THE COMPANY'S MINING PROPERTIES:
The Company is now also focusing on two of its existing Gold Exploration Properties, "Clara" and "Burnt Well", as these two properties meets Management's immediate and stated objectives of "Low Cost" and potentially economically viable Gold Mining Properties, as do the recently acquired "White Hills" Properties.
The Company's Management is determined to monetize its existing assets and to acquire additional assets, should they be of a strategic and economic fit; in order to secure sustainable revenue streams for the Company.
The Company will file further Supplementary Information pertaining to this acquisition of "White Hills".
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 "White Hills, 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.
GNCC CAPITAL, INC.
N.E. "Ted" Blom – President & CEO
Telephone: (702) 942-3347
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Source:GNCC Capital, Inc.