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$GNCP GNCC Capital, Inc. Nears Completion of the Acquisition of the White Hills Gold Properties
NEW YORK, June 6, 2013 (GLOBE NEWSWIRE) -- GNCC Capital, Inc. (GNCP) ("the Company") announces as follows:
Further to announcement of May 20, 2013, the Company confirms that it has met a number of the Conditions Precedent required to complete the acquisition of the "White Hills" Gold Exploration Properties.
It is expected that the Company will close this acquisition on Monday June 17, 2013; 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.
ACQUISITION OF "WHITE HILLS":
"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.
EFFECTS UPON THE COMPANY POST THE "WHITE HILLS" ACQUISITION:
The Company has acquired the "White Hills" Gold Exploration Properties as it provides the Company with a significantly larger base of exciting 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 Joint Venture Agreements on its Properties, the proceeds to be deployed in the acceleration of exploration for other very promising Gold Properties in its portfolio, thereby leading to further Joint Venture Agreements, and cash flow.
MONETIZATION OF CERTAIN OF THE COMPANY'S MINING PROPERTIES:
The Company, in line with its stated objectives, is committed to extracting value from its Exploration Properties through additional exploration and through seeking Joint Venture Partners, to further develop and to mine these properties.
To that end, Management will seek to expedite further and immediate exploration work at "White Hills" in order to fulfill that objective.
The Company is now also focusing on two of its existing Gold Exploration Properties, "Clara" and "Burnt Well", as these two properties, meet Management's immediate and stated objectives of "Low Cost" and extremely viable Gold Mining Properties, as do the recently acquired "White Hills" Properties.
The Company's Management is determined to monetize its existing asserts and to acquire additional assets, should they be of a strategic fit; solely in order to secure revenue streams for the Company.
This goes to the core of Management's stated objectives and philosophies in the business of Gold Mining and Exploration in today's times.
MANAGEMENT OUTLOOK AND FUNDING:
The Company is primarily focused on Gold at this time and Management remains bullish on the outlook for Gold over the medium to long term.
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.
Management remains committed to not entertaining any financing proposals that involve the issue of any additional shares of its Common Stock.
STOCKHOLDER AND INVESTOR RELATIONS:
Your Company's Management has identified these areas as being of critical importance in respect of Investor Relations and Awareness:
Web Site:
The Company is engaged in completing its web site at this time to ensure accuracy of information and to provide our stockholders with real time information. Management hopes that the new web site being created, will furnish both stockholders and interested parties alike, insofar as the depth of the data and the information that is being provided. It is expected that this new web site will be operational in the following weeks.
Social Media:
We are, at this time, in discussion with Social Media Providers whom are specialists in Investor Relations, as to the best way for this Company to embrace Social Media for the benefit of its stockholders.
Stock Awareness:
Your Company's Management is acutely aware of the importance of awareness of your company in the investment community and is at this time, aggressively seeking ways to enhance our Company's profile in the investment community and to introduce the company to new stockholders.
Stock Price:
Management is not keen to address the stock price performance or its recent weakness. Management is of the opinion, that the delivery of its stated objectives, will result in the stock price correcting to a sensible price; that the current trading price of the Company's stock is way below Net Asset Value and only, in Management's opinion, has upside potential.
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 "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. The Company, is at this time, completing the acquisition of "White Hills", a significant Gold Exploration Property. GNCC Capital, Inc. is a current information filer on the OTC Markets under the symbol "GNCP".