hundreds of thousands of dollars of RESTRICTED stock valued at .001 and not due til late 2014
GNCP Float 482,901,749 a/o Nov 04, 2013
Latest news says: The Company has not increased the amount of its outstanding shares of Common Stock; nor has it issued any additional shares of its Common Stock whatsoever.
CEO Ted Blom Mr. Blom turned a company into the largest mining house- And this was in the Wall st Journal last week about that company- Quote: ________________________________________ $6.5 billion since the beginning of its last fiscal year, selling diamond, copper and uranium assets ________________________________________
$10,000,000 Acquisition-GNCC Capital, Inc. (“the Company”) acquired the “White Hills” Gold Exploration Properties in Arizona (“White Hills”) - NOT YET PR'd, only filed so far!
Panic selling last week was due to raise in AS and was for terms of reducing debt by issuing PREFERRED RESTRICTED stock valued at $1 and 1 year restriction (november2014) with a .06 divy attached to them! NO OS RAISE!!!
NEWS: GNCC CAPITAL, INC. CONVERTS $4 MILLION IN DEBT TO EQUITY THROUGH THE ISSUANCE OF NEW PREFERRED STOCK Company issues Shares of Series A Convertible Preferred Stock
November 6, 2013, New York: GNCC Capital, Inc. (OTC: GNCP) today filed on the OTC Markets, details of amendments to its Share Capital. The sole basis for the amendments to the Company’s Share Capital was to authorize shares of Preferred Stock of which a new class was designated as “Series A Convertible Preferred Stock”. The Company issued an amount of 4,118,361 shares of Series A Convertible Preferred Stock at a price of $1.00 (One dollar) each; on November 1, 2013.
This was in settlement of outstanding Payment In Kind Notes issued by the Company on June 17, 2013 upon the acquisition of the “White Hills Gold Properties”. This was in respect of the Capital Amount of $4,000,000 (Four million dollars) plus accrued interest.
As a part of this transaction, the Company was contractually obligated to increase the number of Authorized shares of its Common Stock; as set out in the terms and conditions of the designation of the shares of Series A Convertible Preferred Stock.
The Company has not increased the amount of its outstanding shares of Common Stock; nor has it issued any additional shares of its Common Stock whatsoever.
The Company has now eliminated in excess of $4,000,000 (Four million dollars) in its long term debt and created additional Stockholders’ Equity through the issuance of these shares of Series A Convertible Preferred Stock. The shares of Series A Convertible Preferred Stock issued by the Company are not convertible for a period of less than 1 (One) year from their date of issuance, have no voting rights and not tradable.
In the interests of transparency, the Company today filed full details of all of the Statutory Filings pertaining to these Capital Amendments, to the Issuances of the shares of the Series A Convertible Preferred Stock and disclosed the stockholder details of each and every recipient of the shares of the Series A Convertible Preferred Stock.
The Company has requested that the OTC Markets update its Information Page to reflect the Issued Shares of Series A Convertible Preferred Stock, the increased number of Authorized Shares of Common Stock and the Authorization and the Designation of the shares of Preferred Stock and the shares of Series A Convertible Preferred Stock. These updates will reflect exactly what was filed with the OTC Markets today and as set out in this Press Release.
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 as sets. 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. DATED:NOVEMBER 6, 2013 Contact Information: GNCC CAPITAL, INC. RONALD YADIN LOWENTHAL (EXECUTIVE CHAIRMAN) NICOLAAS EDWARD “TED” BLOM (PRESIDENT & CEO) Telephone: (702) 951-9793 Telefax: (702) 975-6259 E Mail: corporate@gncc-capital.com USA Mailing Address: 244 5th Avenue Suite # 2525 New York,NY 10001
[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]
GNCP has not increased the amount of its outstanding shares of Common Stock; nor has it issued any additional shares of its Common Stock whatsoever. The Company issued an amount of 4,118,361 shares of Series A Convertible Preferred Stock at a price of $1.00 (One dollar) each; on November 1, 2013 and restricted for 1 year. The new AS is 10b
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