Gunpowder Capital Corp., Completes the Sale of its Fourth USA Home Rehabilitation Property
Toronto, Ontario--(Newsfile Corp. - December 21, 2018) - Gunpowder Capital Corp. (CSE: GPC) (CSE: GPC.PR.A) (OTCQB: GNPWF) (FSE: YS6N) ("Gunpowder" or the "Corporation") announced today that it its partner in its USA Home Rehabilitation Market Pilot Programme (the "Programme") has successfully closed the sale of the fourth rehabilitated property the partnership has worked on together.
Gunpowder fully financed the purchase of this property which amounted to Four Hundred Thousand Dollars ("$400,000.00") USD and the Corporation earned Seven Thousand & Ninety Dollars ("$7,090.00") USD in interest on the purchase. Since December of 2017, Gunpowder has now earned approximately Fifty-Two Thousand Dollars ("$52,000.00") USD in total profit which was generated via both interest earned, and via net profit earned, from the combined sale of the four previous properties. The Corporation currently now has one remaining rehabilitation project.
The Corporation may elect to exit this business in early 2019 unless the inventory of available projected profitable projects increases significantly, as the changing economic conditions, and lack of inventory of potential profitable projects, will prevent the Corporation in achieving the critical mass it had hoped to achieve.
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view. For more information please visit www.gunpowdercapitalcorp.com.
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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