Company confirms imminent closure of further Cannabis Sector Transactions
| LAS VEGAS, July 8, 2019 /PRNewswire/ -- GNCC Capital, Inc. (OTC: GNCP) (“The Company” or “GNCC”) is now in a position to address certain key issues and transactions, as follows: The Quarterly Report for the Nine Months Ended June 30, 2019 will be completed and filed tomorrow. We had expected to file prior to this Press Release but elected to include certain fairly material items post this Reporting Period. This Quarterly Report will include the OTC Markets Disclosure Statement. Shareholders are advised to read a number of OTCIQ Filings being published both today and tomorrow; all being filed prior to the Q3 Report being filed late tomorrow. As announced previously, post our becoming PINK CURRENT on the OTC Markets, we are expecting to complete our due diligence as early as tomorrow on a Licensing Agreement on “cutting edge technology” as is required in the Cannabis Sector and it will only conduct business in Canada. We confirm that we are already at the draft agreement stage and it is highly likely that we will consummate and then announce this transaction. At this time, we do not expect any further delays. We are extremely comfortable with our counterparts and yes, they are a USA publicly quoted Technology Company. Following this transaction we will be commencing due diligence on a technology transaction which was developed and designed to provide a unique service to the Cannabis Industry and to other Sectors. We will provide further details in due course as permitted based upon Non-Disclosure Agreements. Should both of these transactions be successfully concluded, it will lead to further licensing transactions and /or Joint Ventures which will add value and additional revenue streams. These additional transactions are what we would describe as natural “bolt on” and synergistic transactions. At this point we are able to disclose that we are seriously considering a Joint Venture proposal and in respect of an E Commerce operation in the USA and with a Canadian based company. This Company specializes in the sale of value added Hemp based CBD products through their web site but currently only operates in Canada. It is unlikely that this transaction will be consummated this month. We will become more aggressive in seeking transactions in the Cannabis and Hemp Sectors upon our concluding the transactions that we are permitted to disclose as above-mentioned. It is likely that we may announce additional transactions that have not been addressed in this Press Release. With the Gold price now trading at a six year high, your Directors will shortly resume negotiations in order to attempt to extract additional value for our shareholders. It remains a very high priority to consummate a transaction in respect of our Mining Exploration Interests. We will continue to provide further updates to our shareholders as material events warrant further disclosure. We have elected to ignore “Internet rumors” and we do not intend to address any such speculation. Shareholders should be guided solely by both of our public OTCIQ Flings and official Press Releases. 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.
SOURCE GNCC Capital, Inc. | ||
Company Codes: OTC-PINK:GNCP |
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