PREMIER DEVELOPMENT & INVESTMENT, INC. UPDATE - INCREASE IN HOLDINGS IN GNCC CAPITAL, INC.

LAS VEGAS, Dec. 21, 2021 /PRNewswire/ -- GNCC Capital, Inc. ("GNCP.PK", "GNCC" or "the Company" refers our shareholders to our Press Release dated December 13, 2021, a link for ease of reference: https://www.otcmarkets.com/stock/GNCP/news/PREMIER-DEVELOPMENT--INVESTMENT-INC-SUBSTANTIALLY-INCREASES-ITS-HOLDING-IN-GNCC-CAPITAL-INC?id=335484 whereby we confirmed that Premier Development & Investment, Inc. (OTC: PDIV) ("PDIV.PK" or "Premier") has now very substantially increased its holdings of restricted Voting Common Stock in GNCP.

We can now confirm that Premier's holdings in GNCC exceed 55% of GNCC's shares of outstanding Voting Common Stock. 

We can confirm that Premier has no desire to hold more than up to more than some 45% of GNCC Voting Common Stock; from time to time.

As Premier is a GNCC Insider, it is prohibited nor is it willing to dispose of any of its shareholdings in GNCC in the market. It would not be possible for Premier to obtain consent to remove the "restrictive legend" from its GNCP Common Stock.

We reiterate that that Premier views its holdings in GNCC as a long term, passive and now; an extremely attractive investment. The current GNCC stock price was considered as an irresistible and highly attractive further entry point for Premier (in the opinion of the Directors of Premier and of the controlling shareholders of Premier).

This is not considered to be a material transaction by Premier given its cash, fixed and short term liquid assets; coupled with its very short term investment holdings.

GNCC has now managed to obtain the necessary Conversion Notices from additional Preferred Stockholders in order to convert into additional shares of GNCC restricted Voting Common Stock.

This ensures that Premier will not hold in excess of 45% of GNCC Voting Common Stock by no later than December 31, 2021; that being Premier's Financial Year End.

GNCC's last Financial Report being the Q3 Report to June 30, 2021 disclosed additional shareholders holding restricted shares of GNCC Voting Common Stock and under "lock up" agreements. This will be increased in due course as mentioned above.

Stockholders are reminded that that Preferred Stockholders of GNCC enjoy the same rights as Common Stockholders in respect of any Dividend Payouts. The Preferred Stockholders long standing publicly filed Certificates of Designation clearly set this out. The increase in the number of GNCC Voting Common Stock is irrelevant in terms of any unfounded "fears of dilution"; given that long standing and disclosed point of fact. Preferred Stockholders conversions into shares of restricted Voting Common Stock is viewed as positive by your Directors.

Both Premier and GNCC are now finally in a position to be filing on OTC Markets, certain Regulatory and obligatory filings in order to ensure that our shareholders are in possession of all the facts and in a timely fashion and in line with the OTC Markets Rules and Regulations pertaining to Insider Dealings.

ABOUT PREMIER:-

Premier holds claims to Rare Earth Mining Exploration Properties in New Mexico, has options over Oil & Gas Wells in Oklahoma and holds the largest amount of the outstanding Common Stock of GNCC Capital, Inc. (OTC: GNCP) which gives Premier an indirect exposure to their claims to Gold and Silver Mining Exploration Properties. Premier's Futures Trading Company is extremely active and continues to trade some 16 hours a day; solely in Index linked Futures Contracts. Premier also holds material cash and short term loan/investment deposits.

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.

Contact Information:

BOARD OF DIRECTORS

Contact Information:

GNCC CAPITAL, INC.

Telephone: (702) 990-0156
E Mail: [email protected]

Investor Relations Contact:

E Mail: [email protected]
Twitter: https://twitter.com/gncccapital

SOURCE GNCC Capital, Inc.