GNCC Capital Inc (GNCP)

[WealthyKing]

12/5/13 GNCC Capital, Inc. – Update on Key Issues

PrintAlert
Gncc Capital, Inc. (PC) (USOTC:GNCP)
Intraday Stock Chart
Today : Thursday 5 December 2013

GNCC Capital, Inc. (OTC: GNCP) as promised in its Press Release on December 3, 2013, provides a comprehensive update on various key issues, primarily those raised from the enormous feedback from many of its stockholders. It is very clear from the vast majority of the e mail messages received, that certain issues require the most attention. Those being:

•Stock Issuances by the Company
•Market Trading Activity
In addition to those topics, Management wishes to address core business topics, those being:
•Appointment of Geologists
•Detailed Information on certain of its “Key” Properties
•Advanced planning for its “White Hills” Gold Exploration Property

In the interests of transparency and proper stockholder communications, we are ready and prepared to issue additional Press Releases in the coming days should our stockholders feel that we have not adequately covered all of the issues and areas of concern to them, which we will assess from incoming communications from our stockholders and over the next few days.

STOCK ISSUANCES BY THE COMPANY:
On November 8, 2013 the Company issued restricted shares of its Common Stock to certain long term Convertible Loan Note Holders. This was to reduce the amount of the Company’s long term liabilities. The Company updated the OTC Markets with its outstanding shares of Common Stock some time ago, that amount remains unchanged.

The Company subsequent to this issuance, has now successfully managed to renegotiate the issuance price of these shares, calculated on a formula linked to the stock price. This will reduce long term liabilities by a very substantial amount and we trust that stockholders will then fully appreciate our rationale for these actions. Whilst some appear to label this as dilution, we consider it prudent where possible, to replace long term debt with equity and to improve our Balance Sheet.
Full details of these transactions will be contained in a Filing later today as well as an update of the holdings of all Stockholders holding in excess of 5% of the Company’s shares of Common Stock. This will provide an accurate and updated snapshot of our stockholders. The Company has not entered into any financing agreements other than those published in its various
Quarterly and Annual Reports.

Rumors of the Company entering into “toxic financing” arrangements are completely false.

The Company’s loan facilities are expressly for exploration work to increase the value of its various properties and not to repay long term debt.

Allegations of the “dumping of shares” by either Company Insiders or Directors are baseless. Should certain of these long term Convertible Loan Note holders in possession of stock, wish to obtain Counsel Opinion Letters to remove their restrictive legend and to dispose of stock, they are naturally free to do so. On that note, the Company updates its “Free Float” information on the OTC Markets very regularly to ensure that it is always accurate.

MARKET TRADING ACTIVITY:
Numerous e mails from stockholders seem to revolve around market activity and more specifically, behavior of certain market makers. We trust that stockholders can appreciate that it is impossible for Management to comment as we are not able to assess what individual market makers are doing in the market. Allegations of other activities by specific Market Markers are unprovable in our opinion and therefore we are not prepared to comment nor to speculate on these allegations.

However we are acutely aware of not only the extreme liquidity of the stock but also the volatility of the stock price. The weekly trading volumes clearly exceed the “free float” but that is not unusual in speculative “penny stocks”. Management has monitored the “free float” and can categorically state that these large trading volumes are clearly not limited or exclusive to the Company’s aforesaid stock issuances.

Management cares very deeply about the Company’s share price but are realistic in that speculative shares tend to be volatile. However, over a longer period, should The Company’s Management communicate improved values of its properties, achieve adequate assay results from additional Exploration work or consummate attractive deals; the stock price would hopefully trade at a more realistic price. The market capitalization of the Company remains extremely depressed at this juncture.

Management, like its stockholders would like to see the price per share rise appreciably but Management believes that the answer to that lies in Managements’ ability to deliver results.

APPOINTMENT OF GEOLOGISTS:
Management is pleased to confirm that it has appointed Craig Parkinson as the Geologist who will be initially responsible for the assessing and development of three of the Company’s Exploration Properties, namely “Clara, Burnt Well and Kit Carson”. Craig has considerable experience in this Geographic region and the Management and development of Mining Properties in that area. Craig is licensed in the State of Arizona. Craig will be initially compiling reports and coordinating with Management on the exploration strategy on each of these three properties and as each is completed, they will be published and made available to stockholders.

The Company has appointed an additional Geologist whose sole responsibility is the Company’s “White Hills” Gold Exploration Property. This Geologist has intimate knowledge of this Property, has overseen previous successful Drilling Campaigns on this Property and is uniquely positioned to expedite and execute our planned development of “White Hills”. Management is awaiting confirmation that this Geologist is able to assume his duties on “White Hills” immediately. Upon Management being satisfied that this Geologist is able to resume duties immediately, we will communicate his details to stockholders, failing which, the details of his replacement.

The details of the Agreements with both of these Geologists will be filed on the OTC Markets as well as their resumes.

DETAILED INFORMATION ON THE COMPANY’S EXPLORATION PROPERTIES:

Management recognizes the need to publish reports and where possible, conservative valuations on each of its properties. Whilst we are in possession of volumous data on each of the properties, including former drilling and assay results, Management believes that these reports should be prepared by and signed off by our Geologists, prior to publication.
To that end, Craig Parkinson will be preparing the reports for “Clara, Burnt Well and Kit Carson”. Our other Geologist is preparing the report for “White Hills”. The reports for “Silverfields and Potts Mountain and Ester Basin” may well be prepared by Craig Parkinson, failing which, by another Geologist.
It is expected that these reports will start becoming available as early as next month.

ACCELERATED PLANNING FOR “WHITE HILLS” GOLD EXPLORATION PROPERTIES:

The Company acquired “White Hills” with specific exploration planning in mind. To that end, this will entail the extension of former successful drilling programs on the property. The Company will update stockholders once the arrangements for its commencement are finalized.
The Assay Reports from previous drilling are being compiled and checked by the responsible Geologist and will be made available next week.

THE COMPANY’S BUSINESS MODEL:

The Company wishes to reiterate its planning and its business model as we feel that many stockholders have lost sight of our strategy and focus solely on day to day stock prices, which is of course, their right.

The Company’s appointment of these two Geologists, as promised, will now lead to the long planned and accelerated development program for the Company as we seek to aggressively implement the Company’s strategy, that of working to generate revenue streams from the Joint Venture Agreements on its Properties, the proceeds to be deployed in the acceleration of exploration for other potentially viable Gold Properties in its portfolio, thereby leading to further Joint Venture Agreements, and cash flow. The Company will also expend funds on further development on certain of its properties with a view to a sale of advanced stage exploration properties. The Company has the necessary funding in place for the implementation of this planned expedited development and further exploration work on its “Clara, Burnt Well and Kit Carson” Exploration Properties.

The Company, at the time of the acquisition of “White Hills”, secured additional funding specifically for this particular Project.

The Company’s Management is solely working to monetize its existing assets and would still seek to acquire additional assets, should they be of a strategic and economic fit; in order to secure sustainable revenue streams for the Company.

STOCKHOLDER COMMUNICATION:

In a Press Release on November 14, 2013, we announced that the Company’s Management had taken note of the numerous stockholder requests for regular updates through Press Releases on its operations and undertakes to do so going forward and on a very regular basis. We thank those stockholders who took the time and the effort to reach out to us on this issue.
We have followed through on this promise and pledge to continue to do so.
As previously announced, in order to further improve its stockholder communications, the Company has retained a design firm to immediately update and improve its corporate web site and to work closely with a Social Media firm to dramatically improve our stockholder communications as well the image and profile of the Company in the investment community. We understand that this task is now nearing completion.

NO REVERSE SPLIT OF COMMON STOCK:

The Company remains besieged with requests as to whether or not a Reverse Split of the Company’s Common Stock is being contemplated. Company Management reiterates its undertaking and undertakes to its stockholders that no Reverse Split of the Common Stock is under consideration nor would such an action be considered to be in the interests of our stockholders. Any rumors to the contrary, are false and misleading.

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 “White Hills, 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. GNCC Capital, Inc. is a current information filer on the OTC Markets under the symbol “GNCP”.
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.


GNCC CAPITAL, INC.
N.E. “Ted” Blom – President & CEO
[phone]
[e-mail]
or
Investor Relations:
E Mail: [e-mail]
Web Site: www.gncc-capital.com
Twitter: https://twitter.com/GNCCCapital
[We would be very appreciative if all investor questions be directed to this E mail address and not to our telephone voicemail until such time as we have appointed a dedicated Investors Relations Firm whom will deal with all telephonic enquiries]