Business
GNCC Capital, Inc. Completes Acquisitions of Additional Mineral Exploration Properties and Its Reorganization
GNCC Capital, Inc. Completes Acquisitions of Additional Mineral Exploration Properties and Its Reorganization.
About this update from Gncc Capital, Inc.
[{"type":"text","content":"\n \n GNCC Capital, Inc. (OTC: GNCP) (“The Company”) confirms that is has \n completed its reorganization and its Mining Exploration acquisitions as \n set out in a press releases dated June 11, 2014 and June 18, 2014.\n \n \n The Company confirms that its acquisition of the “Alamo, North Rawhide \n and McCracken” Mining Exploration Properties has been completed. These \n were acquired by Walker Lane Exploration, Inc., a wholly owned \n subsidiary of the Company. The full acquisition price of these \n properties was settled through the issuance of recently designated \n shares of Series C Preferred Stock.\n \n \n The Company has significantly increased the size and scope of its Mining \n Exploration Properties through these acquisitions.\n \n \n The Company has now been reorganized as a Holding Company. Three of its \n wholly owned subsidiaries being engaged in Mining Exploration. The \n Company assigned its interests in its “White Hills” Exploration \n Properties to White Hills Exploration, Inc., a wholly owned subsidiary \n of the Company. The Company has completed upon the assignment of its \n entire rights, title and interest in its “Ester Basin, Kit Carson, Burnt \n Well, Clara, Silverfields and Potts Mountain” Exploration Properties to \n Mohave Consolidated Exploration, Inc., a wholly owned subsidiary of the \n Company.\n \n \n Full details are being filed by the Company on the OTC Markets \n Disclosure Service during the course of today. These transactions will \n be accounted for in the Company’s Third Quarter ending June 30, 2014.\n \n \n As the Company has now completed its reorganization, the Company is in \n the final stages of acquiring an initial two companies in unrelated \n Industry Sectors. It is intended that the Company evolve into a \n Diversified Holding Company with an emphasis on strong cash generation \n and earnings per share.\n \n \n We are now in a position to confirm that the Company’s two initial \n acquisitions (subject to the fulfilment of conditions precedent) are \n operating in the gaming business and in futures trading.\n \n \n It is expected that the first of these acquisitions will be completed \n and announced this week. These acquisitions are of profitable, cash \n generative companies with significant scope for accelerated earnin...