GC-Global Capital Corp.

GC-Global Capital Corp.

June 30, 2011 09:30 ET

GC-Global Capital Corp. Announces its Financial Results for the First Quarter Ended March 31, 2011

TORONTO, ONTARIO--(Marketwire - June 30, 2011) - GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) ("GDE.A") is pleased to announce its financial results for the first quarter ending March 31, 2011.

Highlights from the First Quarter

  • First quarter revenues of $899,103, an increase of 22% over Q1 in 2010;
  • Net income for the first quarter of $370,242 compared to $425,725 in Q1, 2010;
  • Earnings per share of $0.02 for the first quarter;
  • Increase in net asset value per share to $0.83;
  • Healthy cash and short-term investments balance of $1.6 million at the end of the quarter.

Management's First Quarter Comments

For the first quarter Global Capital had revenue of $899,103 compared to revenue of $701,411 for the same period in 2010. Net income was $370,242 or $0.02 per share compared to net income of $425,725 or $0.02 per share for the same period in 2010. As at March 31, 2011, Global Capital had net assets totaling $15.9 million or $0.83 per share compared to $15.6 million or $0.81 per share as at December 31, 2010.

Chief Executive Officer, Jason Ewart commented, "We are pleased with the results in the first quarter." He added, "During the quarter we continued to deploy cash and increase our bridge loan portfolio."

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, 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.

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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