GNCC Capital, Inc. Provides Updates on Its Reorganization (2024)

GNCC Capital, Inc. (OTCBB:GNCP) (“The Company”) updates on itsreorganization as set out in a press release dated June 11,2014.

The Company is being reorganized as a Holding Company with itswholly owned subsidiaries being initially engaged in MiningExploration as well as in two other unrelated Industry Sectors.This reorganization process will be completed by close of businesson June 19, 2014.

In order to complete upon the series of acquisitions unrelatedto Mining Exploration, the Company was required to reorganize.

The first in an expected series of acquisitions to be announcedin the week commencing Monday June 23, 2014.

ISSUANCE OF SHARES OF SERIES B PREFERRED STOCK

On June 17, 2014, the Company issued an initial amount of3,769,649 shares of Series B Preferred Stock at a price of $1.00each. A number of the existing outstanding Convertible Loan Notesas well as Loans to the Company were cancelled and replaced withthe shares of Series B Preferred Stock. This resulted in animmediate initial reduction of $3,769,649 of the Company’s shortand long term debt.

The company, in its current fiscal year, commencing October 1,2013, to date, has eliminated a total amount of $11,125,385 inshort and long term debt, primarily through the issuance of sharesof Series A Preferred Stock and shares of Series B Preferred Stockand to a lesser extent, the issuance of shares of its CommonStock.

Full details were filed by the Company on the OTC MarketsDisclosure Service.

ACQUISITION OF FURTHER MINING EXPLORATION PROPERTIES

The Company confirms that its acquisition of the “Alamo, NorthRawhide and McCracken” Mining Exploration Properties will becompleted on June 19, 2014. The Company will be acquiring theseproperties through a wholly owned subsidiary company of theCompany, Walker Lane Exploration, Inc. The full acquisition priceof these properties will be through the issuance of recentlyauthorized shares of Series C Preferred Stock.

The Company is significantly increasing the size and scope ofits Mining Exploration Properties through these acquisitions.

ASSIGNMENT OF “WHITE HILLS” EXPLORATION PROPERTIES TO WHITEHILLS EXPLORATION, INC.

The company will complete on June 19, 2014, the assignment ofits entire rights, title and interest in its “White Hills”Exploration Properties to White Hills Exploration, Inc., a whollyowned subsidiary of the Company.

ASSIGNMENT OF “ESTER BASIN, KIT CARSON, BURNT WELL, CLARA,SILVERFIELDS AND POTTS MOUNTAIN” EXPLORATION PROPERTIES TO MOHAVECONSOLIDATED EXPLORATION, INC.

The Company will complete on June 19, 2014, the assignment ofits entire rights, title and interest in its “Ester Basin, KitCarson, Burnt Well, Clara, Silverfields and Potts Mountain”Exploration Properties to Mohave Consolidated Exploration, Inc., awholly owned subsidiary of the Company.

THE FILING OF THE SECOND QUARTERLY REPORT

Upon the completion of these material transactions on June 19,2014, the Company will be in a position to complete and file itsSecond Quarterly Report. This will clearly reflect the postreporting period transactions and their effect upon the company’sfinancial statements.

The Company will continue to publish various updated reports onthese transactions on the OTC Markets, stockholders are advised toreview these various reports as they are filed. Stockholders willalso be updated accordingly as this process continues.

About GNCC Capital, Inc.:

GNCC Capital, Inc. is primarily a Gold Exploration Company, witha secondary focus on Silver Exploration. The initial explorationproperties are located in Arizona and consist of “White Hills,Esther Basin, Burnt Well, Clara, Kit Carson, Silverfields and PottsMountain". The Company intends to create significant value for itsinitial portfolio of properties through continued exploration,joint ventures, and through the acquisition of additional Gold andSilver Exploration assets. GNCC Capital, Inc. is a CurrentInformation Filer on the OTC Markets.

Forward-Looking Statements:-

This press release may contain forward-looking statements. Thewords "believe," "expect," "should," "intend," "estimate,""projects," variations of such words and similar expressionsidentify forward-looking statements, but their absence does notmean that a statement is not a forward-looking statement. Theseforward-looking statements are based upon the Company's currentexpectations and are subject to a number of risks, uncertaintiesand assumptions. The Company undertakes no obligation to update anyforward-looking statements, whether as a result of new information,future events or otherwise. Among the important factors that couldcause actual results to differ significantly from those expressedor implied by such forward-looking statements are risks that aredetailed in the Company's filings, which are on file with the OTCMarkets Group.

GNCC CAPITAL, INC.
N.E. “Ted” Blom, 702-951-9793
President & CEO
corporate@gncc-capital.com
or
Investor Relations:
investor@gncc-capital.com
Web Site: www.gncc-capital.com
Twitter: https://twitter.com/GNCCCapital
[We would be very appreciative if all investor questions bedirected to this E mail address and not to our telephone voicemailuntil such time as we have appointed a dedicated InvestorsRelations Firm whom will deal with all telephonicenquiries]