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

GC-Global Capital Corp.

August 28, 2009 16:30 ET

GC-Global Capital Corp. Announces its Financial Results for the Second Quarter Ended June 30, 2009

TORONTO, ONTARIO--(Marketwire - Aug. 28, 2009) - GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) announces its financial results for the second quarter ending June 30, 2009.

Highlights from the Second Quarter

- Net assets of $18.6 million or $0.93 per share at the end of the quarter;

- Launches the GC-Global Capital Lending Partners Limited Partnership fund to provide bridge loans;

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

Management's Second Quarter Comments

Global Capital had net assets totaling $18.6 million or $0.93 per share compared to $19.7 million or $0.98 per share as at December 31, 2008. Included in the decrease was the $0.025 per share dividend declared and paid during the second quarter. For the six months ended June 30, 2009, Global Capital had a net loss before taxes of $334,268 or $0.02 per share compared to net income before tax of $1,878,477 or $0.09 per share for the same period in 2008. Net loss for the six months ended June 30, 2009 was $334,268 or $0.02 per share as compared to net income of $1,717,803 or $0.08 per share for the same period in 2008. For the quarter ended June 30, 2009, Global Capital had a net loss before taxes of $697,362 or $0.03 per share as compared to net income before tax of $1,465,586 or $0.07 per share for the same period in 2008. As at June 30, 2009, Global Capital had $1,218,151 in cash in cash and short-term investments

Chief Executive Officer, Jason Ewart commented, "Operations were essentially break-even during the quarter, however, the volatility in the Canadian dollar caused Global Capital to record a foreign exchange loss of $278,186 for the six month period as compared to a gain of $67,326 for the same period in 2008. We have hedged the short-term portion of our US holdings and continue to monitor and liquidate our US dollar denominated assets in a timely manner." He added, "During the quarter and subsequent to it we provided $2,000,000 in new bridge loans to IseeMedia Inc. and MBMI Resources Inc. which we expect to provide positive income to our operations in the second half of the year as well as other bridge loan transactions that we are in the process of closing."

Subsequent Events

As a result of the increase in the volume of deal flow, the Company has launched the GC-Global Capital Lending Partners Limited Partnership (the "Fund") which will provide secure bridge loans to micro-cap and small-cap companies. The Fund's investment objective is to provide investors with a high yield and the preservation of capital. As the General Partner of the Fund, Global Capital will participate along side the fund in these bridge loan transactions and receive a management fee and performance bonus for its services.

The Company has granted Directors, Officers and Employees incentive stock options to purchase 1,370,000 subordinate voting shares of the Company at the exercise price of $0.50 per share expiring on August 28, 2014. These incentive stock options are subject to TSX Venture Exchange acceptance.

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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