Gunpowder Capital Corp. Provides Update on its USA Home Rehabili - Erie News Now | WICU & WSEE in Erie, PA

Gunpowder Capital Corp. Provides Update on its USA Home Rehabilitation Venture, and Makes a Further Investment

Posted:

Toronto, Ontario--(Newsfile Corp. - October 2, 2017) - Gunpowder Capital Corp. (CSE: GPC) (CSE: GPC.PR.A) (OTCQB: GNPWF) (FSE: YS6N) ("Gunpowder" or the "Corporation") is pleased to announce that the initial two properties the Corporation had previously invested into in the Corporation's USA Home Rehabilitation Market Pilot Programme (see press release dated Aug 8th, 2017) have been fully rehabilitated and that both properties have now been listed for sale. The Corporation anticipates that sale of the two properties will fully close within the next 60 days.

Upon the completion of the sale of the Corporation's two existing properties, the projected profit to the Corporation will amount to approximately Thirty-Seven Thousand Dollars ("$37,000.00") USD which represents a 78% annualized rate of return to the Corporation.

The Corporation is very pleased with the results of the partnership and has decided to make a further investment. As of the date of this press release, the Corporation has agreed too, and has acquired another property located in close proximity to the two existing properties. The Corporation has elected not to disclose the geographic region of our focus for competitive reasons. Total purchase price of the 3rd property was One Hundred and Twenty Thousand Dollars ("$120,000.00") USD which the Corporation has purchased in full.

As previously stated in its Aug 8th, 2017 press release, the Corporation has mandated a goal of rehabilitating four to six homes a month if the existing pilot programme, and the partnership the Corporation entered into, were deemed as being successful. The Corporation plans on completing definitive agreements within 45 days of the sale of the first two properties.

For further information please contact:

Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
E: frank.kordy@gunpowdercapitalcorp.com

Mr. Paul Haber
CFO
Gunpowder Capital Corp.
T: (416) 363-3833
E: paul.haber@gunpowdercapitalcorp.com

Forward-Looking Statements

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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