GNCC Capital Inc (GNCP)

[wrenchman]

$GNCP CANCELS $19,597,866 OF DEBT WOOOOOOOOOOOOOOW!!!!!

LOOKS LIKE NO MORE DILUTION TO ME AT LEAST FOR A YEAR!!


http://www.otcmarkets.com/stock/GNCP/news/CANCELLATION-OF-OUTSTANDING-CONVERTIBLE-LOAN-NOTES?id=113624&b=y

GNCC CAPITAL, INC. – CANCELLATION OF OUTSTANDING
CONVERTIBLE LOAN NOTES



New York, NY, September 2, 2015 - GNCC Capital, Inc. (OTC: GNCP) (“The
Company”) cancelled outstanding Convertible Loan Notes plus accrued interest totaling
$19,597,866.
The Company issued shares of Series E Convertible Preferred Stock (“Series E”) to these
holders of Convertible Loan Notes at a price of $1.00 each.
The Series E are convertible at the Holder’s Option (AND ONLY after a period of one
year from the date of Issuance) and into shares of Common Stock, at a pre-determined
price per share of the Common Stock, subject however to various terms and conditions.
The Series E Convertible Preferred Stock will not be admitted for trading on any market.
This will serve to drastically reduce the Company’s interest payable and reduces the large
majority of the Company’s long term interest bearing liabilities.
The Company filed the Certificate of Designation of the Series E today, on the OTC
Markets Disclosure Service, a link to this filing:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=144120
The Company filed a Supplementary Filing in respect of this issuance of the Series E
today, on the OTC Markets Disclosure Service, a link to this filing:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=144124
The Company continues to execute material corporate actions as filed in both August and
September of this year, as the Company prepares to implement the next phase of its
business plan.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is intending to become a Diversified Holding Company which at
present has significant assets in Gold & Silver Mining Exploration in Arizona and
Nevada.
The Company holds additional investments including a 70% interest in ASPA Gold Corp.
The Company intends to continue to diversify into other Industry Sectors through
acquisitions and as they present themselves; only upon our stated criteria.
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.
Ronald Y Lowenthal
Executive Chairman
Telephone: [phone]
E Mail: [e-mail]
Investor Relations Contact:
E Mail: [e-mail]
Web Site: www.gncc-capital.com
Twitter: https://twitter.com/GNCCCapital