Gunpowder Capital Corp., Subsidiary Continues to Grow Real Estate Assets.
Toronto, Ontario, August 18th, 2017 – Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTC PINK: GNPWF), (Frankfurt: YS6N), (“Gunpowder” or the “Corporation”) announced today that its fully owned subsidiary GP Realty Inc., has completed the purchase of 1571 Hickory Road, a four 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. The Corporation funded the purchase by making a Thirty- Seven Thousand, Four Hundred and Seventy-Five Dollar (“$37,475.00”) CDN down payment and by securing a one year fixed rate mortgage from a major Canadian financial institution. The mortgage bears interest at a rate of 3.45% per annum and is being amortized over a 25 year period. Gunpowder estimates that the cash on cash return generated by this property will be 30% per annum.
Mr. Frank Kordy stated: “We continue to make excellent progress increasing both the Corporation’s total asset base and increasing the Corporation’s incoming streams of revenue. We continue to source additional real estate assets in both the residential and commercial spaces throughout Ontario.”
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 Mr. Paul Haber
CEO & Director CFO
Gunpowder Capital Corp. Gunpowder Capital Corp.
T: (647) 466-4037 T: (416) 363-3833
E: frank.kordy@gunpowdercapitalcorp.com E: paul.haber@gunpowdercapitalcorp.com
NT4
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