NEW YORK, May 20, 2013 (GLOBE NEWSWIRE) -- GNCC Capital, Inc. (Pink Sheets:GNCP) ("the Company") announces as follows:
- It has reached an Agreement to acquire the "White Hills" Gold Exploration Properties.
- It has filed its Second Quarter Financial Results for the period ended March 31, 2013.
ACQUISITION OF "WHITE HILLS":
The Company has now reached an agreement to acquire "White Hills" and has secured the financing necessary for expedited further development of these Gold Properties.
"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.
The full details are contained in a Filing made today by the Company, a link to this filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=104992
MONETIZATION OF CERTAIN OF THE COMPANY'S MINING PROPERTIES:
The Company, in line with its stated objectives, is committed to extracting value from its Exploration Properties through additional exploration and through seeking Joint Venture Partners, to further develop and to mine these properties.
To that end, Management will seek to expedite further exploration work at "White Hills" in order to fulfill that objective.
The Company is now focusing on two of its existing Gold Exploration Properties, "Clara" and "Burnt Well", as these two properties appear, at this time, to fulfill that objective.
The Company is primarily focused on Gold at this time and Management remains bullish on the outlook for Gold over the medium to long term. The Company does not require any additional funding in this fiscal year in order to achieve these stated objectives.
SECOND QUARTER FINANCIAL REPORT:
The Company filed today, its Second Quarter Report for the period ended March 31, 2013. Certain material events, post the reporting date, are included in this Second Quarter Report. These material events were necessary to complete upon the acquisition of "White Hills" and delayed our filing the Second Quarter Report until today.
The Second Quarter Report can be accessed through this link: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=104986
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 "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".
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.