Click here to close now.




















Welcome!

News Feed Item

CapGain Properties Inc. (formerly called Big Mojo Capital Inc.) Announces Closing of Qualifying Transaction and Change of Name

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/08/13 -- CapGain Properties Inc., formerly called Big Mojo Capital Inc. (the "Corporation" - TSX Venture -"CPP") announces that it has closed its Qualifying Transaction with the Alberta corporation also called CapGain Properties Inc. ("AlbertaCo") by the issuance of a total of 43,478,671 common shares in exchange for all of the issued and outstanding shares of AlbertaCo. Of the 43,478,671 common shares of the Corporation, 37,978,671 common shares are subject to a Tier 2 Value Security Escrow Agreement; and 5,500,000 common shares are subject to a four month hold period ending April 21, 2013. The Corporation also issued 50,000 common shares to PI Financial Corp. as partial payment for acting as Sponsor for the Corporation's Qualifying Transaction.

In connection with the Qualifying Transaction, the Corporation changed its name from Big Mojo Capital Inc. to CapGain Properties Inc.

Through AlbertaCo, a wholly-owned subsidiary of the Corporation, the Corporation will carry on its business as an investment company specializing in purchasing real estate properties at discount values in the U.S. It intends to pursue the acquisition of properties that can be purchased below their market value, with an emphasis, where possible, on properties that are currently income producing or can become income producing. The primary parameters of a purchase are: the discounted value of the purchase price versus current market appraised value; amount of current income or income potential yet to be realized; and re-sale marketability.

The new board of directors of the Corporation consists of Brian E. Knight, Michael L. Loprieno, Neil B. Ramsay, and Rene Branchaud, as the new appointees, and Christopher Kape, a current and remaining director. Jacob (Jake) H. Kalpakian has resigned as President, Chief Executive Officer and Chief Financial Officer of the Corporation. Brian E. Knight has been appointed as President and Chief Executive Officer, James Brander has been appointed as Chief Financial Officer and Michael L. Loprieno has been appointed as Secretary.

In addition, 800,000 CPC escrowed shares were transferred within escrow, at a transfer price of $0.075 per share, by Jake Kalpakian, of which 380,000 shares were transferred to Strategic Lending Solutions, LLC, a company controlled by Brian E. Knight, and of which 420,000 shares were transferred to LOP Capital LLC, a company controlled by Michael L. Loprieno.

PI Financial Corp. acted as Sponsor for the Corporation's Qualifying Transaction.

The Corporation's common shares will resume trading on the TSX Venture Exchange under its new name CapGain Properties Inc. on Wednesday, January 9, 2013 under its new symbol CPP.

"This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available."

Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate" "believe", "expect", "plan", "intend", "estimate", "purpose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to the intention of the Corporation to identify and complete the acquisition and disposition of properties. Key assumptions on which our forward-looking statements are based include: the current state of the U.S. economy and real estate markets and the expectation that economic recovery will lead to increases in the demand for and values of real estate properties in the targeted markets; the availability of properties for purchase that are consistent with the Corporation's investment objectives and criteria; the prospects for the future sale, lease or refinancing of properties; and the ability to obtain financing on acceptable terms to meet its further capital requirements.

The Corporation cannot provide any assurance that the plans, intentions or expectations upon which these forward-looking statements are based will prove to be correct. These forward- looking statements are subject to risks, uncertainties and assumptions. Although the Corporation believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. There are risks which could affect the Corporation's future results and could cause the results to differ materially from those expressed in these forward-looking statements, including without limitation: real property ownership risks; reliance on management; acquisition risks; competition; failure to obtain additional financing; potential conflicts of interest; U.S. market factors; uninsured losses; and environmental matters. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Corporation does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements in this press release are made as of the date hereof and the Corporation undertakes no obligation to publicly update or revise forward-looking statements other than as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
CapGain Properties Inc.
Brian E. Knight
President and Chief Executive Officer
(847) 854-4213

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...