GC-Global Capital Corp.

GC-Global Capital Corp.

February 04, 2010 09:30 ET

GC-Global Capital Corp. and IOU Central Inc. Enter Into $375,000 Loan Agreement

TORONTO, ONTARIO--(Marketwire - Feb. 4, 2010) - GC-Global Capital Corp. (TSX VENTURE:GDE.A) ("Global Capital") and IOU Central Inc. ("IOU Central") are pleased to announce the completion of a secured loan (the "Loan") in the principal amount of $375,000.

The nine month secured Loan from Global Capital bears interest at 12% per annum, payable monthly. As consideration for providing the Loan, Global Capital was issued a bonus in the form of common shares of IOU Central.

In October, 2009, IOU Central and MCO Capital Inc. (TSX VENTURE:MCO.H) ("MCO") announced that they had entered into a non-arm's length letter of intent pursuant to which MCO would acquire all of the outstanding common shares of IOU Central in an all-share transaction. Mr. Philippe Marleau is the founder of IOU Central and has served as IOU Central's CEO and sole director since August 2006. In addition, Mr. Marleau currently serves as an independent director of Global Capital.

About IOU Central

IOU Central, a Canadian Corporation, holds 89.0% of the shares of IOU Central Inc., a Delaware Corporation (IOU USA), which will operate an Internet-based lending platform in the United States as its sole activity. Currently, IOU USA facilitates loans between borrowers and third-party lenders. Upon the approval of its regulatory filings with the SEC, IOU USA's Internet-based loan marketplace will enable registered borrowers to post loan requests and borrow money and registered lenders to purchase notes issued by IOU USA, the proceeds of which are designated to fund specific loans made to individual registered borrowers. Please refer to the IOU USA registration statement filed with the SEC on EDGAR for more information on its business. IOU USA's principal executive offices are located at 125 Town Park Drive, Suite 300, Kennesaw, Georgia 30144, and its website address is http://www.ioucentral.com/.

About Global Capital

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. For further information, please visit Global's website at www.gcglobalcapital.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information