GNCC Capital Inc (GNCP)

[Eli's Gone]

Wow---surprise, surprise....let's see---PFI, a subsidiary of PDIV, enters into a financing agreement with USAL, a subsidiary of GNCP, to fund the "lithium deal"----and somehow this wasn't a material event (according to GNCP) and the loan covenants were not disclosed to the public...wow

https://www.otcmarkets.com/stock/GNCP/news/GNCC-CAPITAL-INC-FILES-THE-AGREEMENTS-FOR-SILVERPEAK-LITHIUM-AND-URANIUM-TRANSACTIONS?id=348508

Premier has elected not to announce nor to make any Regulatory Filings in respect of these transactions as it is not deemed to be a material transaction for Premier.

so now shareholders find out one of the default covenants of the loan agreement was GNCP trading at no bid for 5 days--GNCP has been at no bid for 3 days...wow²

and if not cured by 5 days, PFI assumes control of USAL, GNCP is held harmless and out of the lithium business---the clock is ticking...wow³

https://www.otcmarkets.com/otcapi/company/financial-report/333820/content

Premier as the 100% shareholder of PFI will assume full control of the entire issued shares of USAL and will continue to fund USAL; and
GNCC will no longer have any interests nor rights in and to USAL and will no longer have any interests in the Lithium / Uranium business.