Toronto, Ontario--(Newsfile Corp. - January 16, 2017) - Gunpowder Capital Corp. (CSE: GPC), (CSE: GPC.PR.A), (FSE: YS6N), (the "Corporation"), announced today that it has purchased additional investment portfolio assets from YCF Capital Inc., ("YCF") a Toronto based private investment firm. Please see our press release dated November 16th, 2016.
The YCF loan portfolio consists of mortgages and commercial loans all of which are in "good standing". The loan portfolio that Gunpowder Capital Corp., is purchasing generates approximately 16% interest per annum and has a face value of Three Hundred and Thirty-Two Thousand Dollars ("$332,000.00") CDN. The Corporation has agreed to issue Thirty-Three Thousand, Two Hundred ("33,200") of its "Class - A" Preferred Shares at Ten Dollars ("$10.00") CDN per "Class - A" Preferred share, as consideration for the purchase.
In total, the entire loan portfolio purchase amounted to Nine Hundred and Thirty Thousand Dollars ("$930,000.00") CDN which will generate for Gunpowder Capital Corp., approx. One Hundred and Fifty Thousand Dollars ("$150,000.00") CDN, per annum in revenue.
For further information please contact:
| Mr. Frank Kordy Interim CEO & Director Gunpowder Capital Corp. T: (647) 466-4037 E: frank.kordy@gunpowdercapitalcorp.com | Mr. Paul Haber CFO Gunpowder Capital Corp. T: (416) 363-3833 E: paul.haber@gunpowdercapitalcorp.com |
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release.
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