Toronto, Ontario--(Newsfile Corp. - September 5, 2017) - Gunpowder Capital Corp., (CSE: GPC) (CSE: GPC.PR.A) (OTC Pink: GNPWF) (FSE: YS6N) ("Gunpowder" or the "Corporation") announced today that its fully owned subsidiary GP Realty Inc., has purchased in full, 935 Albert Street, a two unit, fully tenanted, residential rental property located in Windsor, Ontario.
Total purchase price of the property was One Hundred & Fifty Thousand Dollars ("$150,000.00") CDN. Gunpowder is in the process of arranging first mortgage financing on the property and estimates that the cash on cash return generated by this property post financing will be 27% per annum.
With the completion of this acquisition the Corporation now has acquired 13 units in Windsor which complement our 17 units in London Ontario. The Corporation now holds over Two Million Dollars ("$2,000,000.00") CDN in real estate assets on its balance sheet which currently generate over Twenty One Thousand Dollars ("$21,000.00") per month in revenue. The Corporation continues to source additional strong revenue generating real estate assets.
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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