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
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.