Brief: GNCC Capital Says Will Be Invested Only In Cannabis Sector By Commencement Of Business Next Week

GNCC Capital

27/08/2019 11:39

Aug 27 (Reuters) - GNCC Capital Inc  GNCP.PK :
    * GNCC CAPITAL, INC. - NOW CONFIRMS VERY SIGNIFICANT AND
IMMEDIATE
RESTRUCTURING
    * GNCC CAPITAL INC - WILL BE INVESTED ONLY IN CANNABIS
SECTOR BY
COMMENCEMENT OF BUSINESS NEXT WEEK.
    * GNCC CAPITAL INC - NOW A RECONSTITUTION OF BOARD OF
DIRECTORS
AND BY THIS WEEKEND
    * GNCC CAPITAL - MAJORITY OF ISSUED & OUTSTANDING SECURED
SHARES
OF SERIES "A" & "C" CONVERTIBLE PREFERRED STOCK, TOTALING $25.5
MILLION ARE BEING CANCELLED
    * GNCC CAPITAL INC - N E BLOM WILL RESIGN AS COMPANY'S
PRESIDENT
AND WILL BE COMPANY'S NON-EXECUTIVE CHAIRMAN
    * GNCC CAPITAL INC - EXECUTIVE CHAIRMAN, R Y LOWENTHAL WILL
BE
RESIGNING FROM BOARD AND WILL NO LONGER BE AFFILIATED WITH CO
    * GNCC CAPITAL - NO REVERSE SPLIT OF CO'S COMMON STOCK WILL
BE
PERMITTED UNDER ANY CIRCUMSTANCES WHATSOEVER; & FOR A PERIOD OF
NOT LESS THAN THREE YEARS

Source text for Eikon:  ID:nPn1Bmn60a 
Further company coverage:  GNCP.PK 

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