NEW YORK, Feb. 26, 2013 (GLOBE NEWSWIRE) -- GNCC Capital, Inc. (Pink Sheets:GNCP) ("the Company") has entered into a Line of Credit Agreement with Diamond Peak Resource Corporation ("Diamond Peak") in the amount of $1,000,000 primarily for the immediate and accelerated development of the Company's Mining Exploration Properties.
The existing Line of Credit Agreement between the Company and Diamond Peak in the amount of $829,308 has been terminated and the Company has issued a long term Convertible Loan Note in that amount to Diamond Peak.
With Gold being a strong long term investment, the Company is currently focused on its Gold Exploration properties. The Line of Credit Agreement will allow for extensive exploration work resulting in the firming up and substantially improved valuations of our properties.
The Company remains committed to its long standing pledge not to issue additional shares of its Common Stock.
The Company, in compliance with the updated OTC Market Disclosure Rules, today filed a Supplementary Information Statement setting out the salient points of these transactions with these various agreements annexed as Exhibits.
This Supplementary Filing and Exhibits can be viewed here: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=99991
The Company is completing the final updating and completion of its web site and is establishing a Social Media presence in order to keep our stockholders updated in real time.
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 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'.
The GNCC Capital, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17259
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.