GC-Global Capital Corp.

GC-Global Capital Corp.

June 02, 2009 09:30 ET

GC-Global Capital Corp. Announces Its Financial Results for the First Quarter Ended March 31, 2009

TORONTO, ONTARIO--(Marketwire - June 2, 2009) - GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to announce its financial results for the first quarter ending March 31, 2009.

Highlights from the First Quarter

- Net income before taxes for the first quarter of $363,094;

- Earnings per share of $0.02 for the first quarter;

- Healthy cash and short term investments balance of $2.9 million at the end of the quarter.

Management's First Quarter Comments

For the first quarter Global Capital had revenue of $377,083 compared to revenue of $838,792 for the same period in 2008. Net income before taxes was $363,094 or $0.02 per share compared to a net income before taxes of $412,891 or $0.02 per share for the same period in 2008. As at March 31, 2009, Global Capital had net assets totaling $19.7 million compared to $19.7 million as at December 31, 2008 or $0.98 per share as compared to $0.98 per share as of December 31, 2008.

Chief Executive Officer, Jason Ewart commented, "We were pleased with the results in the first quarter." He added, "We ended the period with a good amount of cash on our balance sheet that we expect to be deployed into several current bridge loan transactions that we are finalizing and looking forward to announcing in the near future."

Subsequent to the End of the First Quarter

On April 30, 2009, Global Capital declared a cash dividend of $0.025 per share payable to shareholders of Global Capital's subordinate voting and multiple voting shares. The dividend is payable June 15, 2009, to shareholders on record on May 15, 2009. This marked the fifth year in a row that Global had paid a cash dividend to its shareholders.

A full set of unaudited financial statements and related notes have been filed on SEDAR.

About GC-Global Capital Corp.

Global Capital is a merchant bank which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.

Forward-Looking Information

These materials include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Other than statement of historical fact, all statements in this material, including, without limitation, statements regarding fair values of marketable securities, investments, bridge loans, convertible debentures, estimated asset retirement obligations, and future plans and objectives of the Company, are forward-looking statements that involve various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of these materials. Important factors that could cause actual results to differ materially from the Company's expectations include, without limitation, the level of bridge loans completed, the nature and credit quality of the collateral security, the sufficiency of cost estimates for remaining reclamation obligations as well as those factors discussed in the Company's documents filed from time to time with the TSX Venture Exchange, Canadian securities regulators and other regulatory authorities. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

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