GC-Global Capital Corp. (TSXV:GDE.A) announced the spin-off GC Marathon Financial Corp. to the shareholders of GC-Global on October 21, 2013.

The subordinate voting shares and multiple voting shares of GC Marathon will be distributed on the basis of one GC Marathon subordinate voting share for every subordinate share of GC-Global held as of the distribution record date and one GC Marathon multiple voting share for every multiple share of GC-Global held as of the distribution record date. The shares of GC Marathon will be distributed to Global Capital's shareholders through a reduction of paid up capital. The transaction was approved by the Board of Directors of GC-Global and is subject to approval by shareholders of GC-Global at a Special Meeting to be held on December 19, 2013, approval for listing of subordinate voting shares of GC Marathon on the CNSX and issue of receipt by applicable provincial securities commissions for a final prospectus of GC Marathon in respect of the distribution.

As part of the process of the spin-out transaction, GC Marathon intends to file a prospectus in Ontario to qualify the secondary distribution by Global Capital to its shareholders of all of the outstanding shares of GC Marathon Corp. Following the approval of the prospectus, GC Marathon intends to seek a public listing of its shares. As of December 19, 2013, the deal was approved by the shareholders of GC-Global.