GNCC Capital, Inc. Updates On Various Matters

LAS VEGAS, March 27, 2019 /PRNewswire/ -- GNCC Capital, Inc. (OTC: GNCP) ("The Company" or "GNCC") confirms as follows:-

The outgoing Directors of GNCC have agreed to remain and not to depart on March 31, 2019, thereby extending the "transition period" for another month. This is to afford them the time to secure a fair and equitable transaction relating to the Company's Mining Exploration Property portfolio and to complete all of the outstanding Quarterly and Annual Reports. It is imperative that GNCC be restored to a "Current Filer" on the OTC Markets. The OTC Markets introduced new rules effective March 15, 2019 that require these Financial Reports to be prepared in a new format, a link:  http://otcmnotifications.createsend1.com/t/ViewEmail/i/0ABCE25A91EAD9FD2540EF23F30FEDED

As previously stated, additional Directors will be appointed over the next month and beyond; all of whom will be experienced in the Cannabis and related Sectors.

The Company has elected to fairly aggressively add to its interests in the Cannabis and related Sectors. This will include outright purchases of companies, acquisition of minority interests, Joint Ventures, Licensing Agreements and Service provision.

We are particularly interested in value added products and services in both the Cannabis and Hemp Sectors. This includes products in the beauty, health, wellness, pets and the delivery of value added cannabis products direct to consumers. Retailers' shelf space for these products is expanding rapidly due to strong consumer interest and increasing market demand.

Hemp based products are an important area for our growth and we are seeking opportunities in that area. Naturally any such transactions will need to meet industry standards for quality and comply with all of the legal requirements for products containing hemp pursuant to the U.S. Farm Bill and other applicable regulations.  

Two M & A Consultants have been retained to seek out suitable targets and to negotiate with the vendors of businesses currently being offered for sale and that meet our criteria; namely their being well established, profitable and cash flow positive. A number of targets have been identified in the USA and in Canada and negotiations are ongoing. The Company will be in a position to access certain amounts of cash on an ongoing basis to facilitate the outright purchases of the companies targeted and for cash.

The Consultants have indicated that they are reasonably confident that an initial four outright acquisitions could be consummated during next month.

We are exploring various options to acquire licensed retail operations with physical store locations and e-Commerce capabilities. This we would do gradually, if at all; due to the complexities of managing retail stores.

If successful in these acquisitions, we will be establishing an appropriate infrastructure in order to oversee and to properly manage all operational companies acquired, this to include a dedicated Management Team reporting to the Directors. We will then be in a position to commence with the provision and continual updating of guidance pertaining to our Revenues, Earnings per share, Trading conditions, etc.

All transactions will be effected through new wholly owned subsidiary companies of GNCC. 

The GNCC Directors confirm that they will be updating shareholders on other matters that have been raised by shareholders and during the course of next week.

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.