NEW YORK--(BUSINESS WIRE)--GNCC Capital, Inc. (OTC:GNCP) has today filed the unanimous consent of the Directors authorizing the implementation of a Stock Repurchase Program as well as a number of corporate actions with the OTC Markets, namely:
- Implementation of a Stock Repurchase Program of up to 20% of the total number of issued and outstanding shares of Common Stock from time to time capped to an amount not to exceed $750,000; and
- A material retirement of interest bearing long term liabilities; and
- Company has entered into a Line of Credit Loan Agreement to fund Stock Repurchase Program; and
- A Management Discussion and Analysis in respect of historical and current stock trading activity; and
- Detailed Disclosures of all material stockholders in the Company.
Stockholders should carefully scrutinize each of these filings which are accessed on the OTC Markets web site and are dated January 13, 2014. The rules and regulations governing Stock Repurchase Programs are set out in a separate filing.
The Company will update its stockholders in due course to update on company planning, current work programs as well as the commencement of the filing of detailed Geological Reports on each of its properties complete with Management’s immediate strategy on the various Mining Exploration Properties.
The Company will be filing its Annual Report on or before January 15, 2014. This Annual Report is required to be filed along with an Attorney’s Letter as is required by OTC Markets regulations, hence our slight delay in its Filing.
The Company will be ensuring that its corporate web site is brought current in short order as promised. The implementation of the use of Social Media by the Company is nearing completion.
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”.
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.