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GNCP Nears Acquisition of Largest Project To-Date
Approximately two months ago, GNCC Capital announced that it was evaluating the potential acquisition of a gold exploration property. Notably, this property is significantly larger and more developed than any other exploration property in the company’s present portfolio.
GNCC Capital today told investors that it anticipates completing this acquisition very shortly, following extensive due diligence and deliberations. Completing this acquisition will significantly increase the company’s size and its exposure to the gold sector.
Emphasizing its bullish outlook on gold over the medium and long term, the company reaffirmed its commitment to the gold sector and said it views the recent dip in gold prices as an opportunity. GNCC Capital is solely focused on properties that meet its 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. GNCC Capital remains committed to its long-standing pledge not to issue additional shares of its Common Stock.
Upon completion of this acquisition, GNCC Capital will substantially increase the amount of the existing $1 million credit facility from Diamond Peak and source additional available credit facilities, should it so require.
In other news, GNCC Capital said it is completing a new and updated web site as well as creating a social media platform, as part of a recently initiated plan to boost investor awareness of the company.
For more information, visit www.gncc-capital.com
