GC-Global Capital Corp.
TSX VENTURE : GDE.A

GC-Global Capital Corp.

December 01, 2008 09:30 ET

GC-Global Capital Corp. Announces Its Financial Results for the Third Quarter Ended September 30, 2008

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2008) - GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to announce its financial results for the third quarter ending September 30, 2008.

Highlights from the Third Quarter

- Positive operating cash flows of $2,042,100 for the third quarter;

- Earnings per share of $0.08 for the first nine months, compared to $0.07 per share for the same period in 2007;

- Company continues to maintain a strong balance sheet with no debt.

Management's Third Quarter Comments

For the third quarter Global Capital had realized revenue of $701,053 compared to realized revenue of $1,333,262 for the same period in 2007. Due to an unrealized charge on the Company's held for trading investments, the Company had net revenue of $160,253 for the quarter compared to net revenue of $1,333,262 for the same period in 2007. Net income was $7,689 or $0.00 per share compared to a net income of $452,443 or $0.02 per share for the same period in 2007. As at September 30, 2008, Global Capital had net assets totaling $23.2 million compared to $24.5 million as at June 30, 2008 or $1.14 per share as compared to $1.20 per share as of June 30, 2008. The decrease in revenue, net income and net asset value is primarily due to a decrease in structuring fees and the recognition of unrealized losses on portfolio investments during the quarter. Cash flow from operations for the quarter was strong with operations generating positive cash flow of $2,042,100 compared to negative $302,527 for the same period in 2007.

For the nine months ended September 30, 2008, Global Capital had net income of $1,725,492 or $0.08 compared to a net income of $1,332,157 or $0.07 per share for the same period in 2007.

Chief Executive Officer, Jason Ewart commented, "Given the negative conditions within the global equity markets, we were pleased with the Company's ability to produce positive cash flows during the third quarter. The Company continues to maintain a strong balance sheet with no debt."

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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