GNCC Capital Inc (GNCP)

[BeeDoubleU]

GNCC Capital, Inc. Issues a Clarification

Source: Business Wire
GNCC Capital, Inc. (OTC: GNCP) (“The Company”) clarifies its position on its Stock Repurchase Program following this morning’s Press Release.

The Company is absolutely committed to its stated Stock Repurchase Program of up to $750,000.

The Company was highlighting that it was cancelling up to 29% of its outstanding shares of Common Stock and revising existing agreements to prevent additional shares of Common Stock from entering the “Free Float”.

The statement that, “The Company’s Management believes that it is illogical to expend any sums of monies on any future stock repurchases, in the market, from either Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.”;

Meant That:

The Company was solely interested in repurchasing shares of its Common Stock in the market from Sellers other than Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.