NEW YORK, June 20, 2013 (GLOBE NEWSWIRE) -- GNCC Capital, Inc. (Pink Sheets:GNCP) ("the Company") announces as follows:
Further to an initial announcement of May 20, 2013, the Company confirms that it has now completed the acquisition of the "White Hills" Gold Exploration Properties.
The terms of the acquisition are as detailed and disclosed in its filing dated May 20, 2013, a link to the filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=104992 .Management is of the opinion that this acquisition, coupled with existing portfolio properties should secure an enhanced economic base for the Company going forward. "WHITE HILLS": "White Hills" is a Gold Exploration Property that comprises a number of Lode and Placer Claims on 1,680 acres in Arizona. This is an advanced Exploration Property and meets the Company's requirements for potential low cost extraction. Key points of this Acquisition:
- The Company does not require any additional funding in this fiscal year in order to achieve their stated objectives. The Company's management has secured the requisite funding to meet its stated objectives for this fiscal year
- The Company now has a significantly larger base of sound economic and potential low cost production Gold Mining Assets. Given the Company's stated objectives, this acquisition is expected to move the Company into a Joint Venture / Revenue Producing Arena; at an accelerated rate, as previously envisaged by the Company's Management.
- The Company's strategy is 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.