GC-Global Capital Corp. Seizing Joint Venture Assets

V.GDE.A

Toronto, Ontario--(Newsfile Corp. - April 9, 2014) - GC-Global Capital Corp. (TSXV: GDE.A) ("Global Capital") announces that it is seizing the assets of Tanenbaum Landscaping & Design Inc. (“TLD”) which declared bankruptcy on April 8, 2014. Global Capital is working with TLD’s bankruptcy administrator to seize TLD’s assets which secure its promissory note in (the “Note”). The Note is secured by all of TLD’s assets under General Security Agreements and guarantees. Global Capital will provide an update on the proceeds recovered from the bankruptcy as part of its continuous disclosure.

TLD, formerly DDR Landscaping Contractors Ltd. (“DDR”), was acquired under Global Capital’s joint venture TGC Acquisition Corp. (“TGC”) with Rossmore and Partners Investments Corp. (“Rossmore”) in July 2011. Global Capital and Rossmore have an equal interest in the joint venture. Based in Oakville, TLD was a commercial site contractor in the Ontario region.

About Global Capital

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. For further information, please contact Jason G. Ewart, C.E.O. at (416) 488-7760 or visit Global Capital’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.


Rate this press release
3 stars
v
Usefulness

Clarity

Credibility
Add to favourites icon Add to favourites