Replies to post #133548 on GNCC Capital Inc (GNCP)

[SevenTenEleven]

GNCP - Looks like market makers want $0.0002’s. Try as they may and try as they might, the $0.0002’s are tough to come by. What is trading down at $0.0002 are odd lots that are likely wash trades flipping between “like” accounts.

[Anticipating]

YES SIR, 2 MORE NATIONAL PRESS RELEASES ON THE DOCKET!!! GO GNCP!!

GNCC Capital, Inc. Acquires BioCann Pharma S.A.S.

:-)
https://finance.yahoo.com/news/gncc-capital-inc-acquires-biocann-073300991.html

Salient Points of this transaction:

GNCC has acquired a 100% interest in BioCann, these transactions were approved by shareholders voting in excess of 51% of the outstanding shares of voting Common Stock.
R Y Lowenthal and N E Blom ("the Current Directors") are to remain as Directors until the close of the Transition Period, being March 31, 2019.
BioCann to appoint 1 (One) Director to GNCC Board shortly and will nominate Directors to replace the Current Directors on or before March 31, 2019.
Agreement strictly prohibits any reverse split of the GNCC shares of Common Stock for a period of not less than eighteen months.
The Current Directors will during the Transition Period, use their best efforts in order to secure an equitable transaction to dispose of or otherwise deal with the Mining Exploration Assets held by GNCC in order to best serve the interests of all of the GNCC shareholders; particularly given the current increases in the price of Gold. Furthermore they will ensure that all of the issued and outstanding secured shares of Convertible Preferred Stock are cancelled and prior to the close of the Transition Period ending March 31, 2019. The Company is not ruling out a cash sale of the Mining Exploration Assets and a Distribution of the proceeds to shareholders of Record.
The Current Directors during the Transition Period, will ensure that all outstanding Quarterly and Annual Reports are filed in order to restore GNCC to that of a Current Filer on the OTC Markets.
The Purchase Price of $120 million includes very stringent Net Revenue Warranties and appropriate performance penalties as agreed upon by the Sellers of BioCann. BioCann has warranted Net Attributable Revenues of not less than $12 million for the period April 1, 2019 to March 31, 2020. These are explained in very specific detail in the referenced Filing. All of the Equity Instruments being issued in settlement of this acquisition are restricted from any sale and/or conversion for a period of not less than 18 (Eighteen) months. The shares of restricted Common Stock were issued at a price of $0.03 (Three cents) per share.