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Provider: Reuters Investment Profile

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GNCC Capital Inc provides updates on reorganization

Wednesday, 18 Jun 2014 11:08am EDT 

GNCC Capital Inc:Updates on its reorganization as set out in a press release dated June 11, 2014.Company is being reorganized as Holding Company with its wholly owned subsidiaries being initially engaged in Mining Exploration as well as in two other unrelated Industry Sectors.This reorganization process will be completed by close of business on June 19, 2014.In order to complete upon series of acquisitions unrelated to Mining Exploration, Company was required to reorganize.First in an expected series of acquisitions to be announced in the week commencing on June 23, 2014.Company confirms that its acquisition of Alamo, North Rawhide and McCracken Mining Exploration Properties will be completed on June 19, 2014.Company will be acquiring these properties through wholly owned subsidiary company of the Company, Walker Lane Exploration, Inc.Full acquisition price of these properties will be through the issuance of recently authorized shares of Series C Preferred Stock.Company is significantly increasing size and scope of its Mining Exploration Properties through these acquisitions. 

Company Quote

20 Mar 2015