|By Marketwired .||
|January 8, 2013 05:51 PM EST||
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.
CapGain Properties Inc.
Brian E. Knight
President and Chief Executive Officer
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 8, 2015 12:00 AM EDT Reads: 2,526
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...
Jul. 7, 2015 10:30 PM EDT Reads: 2,492
"We have seen the evolution of WebRTC right from the starting point to what it has become today, that people are using in real applications," noted Dr. Natasha Tamaskar, Vice President and Head of Cloud and Mobile Strategy and Ecosystem at GENBAND, in this SYS-CON.tv interview at WebRTC Summit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 10:15 PM EDT Reads: 1,215
Enterprises are turning to the hybrid cloud to drive greater scalability and cost-effectiveness. But enterprises should beware as the definition of “policy” varies wildly. Some say it’s the ability to control the resources apps’ use or where the apps run. Others view policy as governing the permissions and delivering security. Policy is all of that and more. In his session at 16th Cloud Expo, Derek Collison, founder and CEO of Apcera, explained what policy is, he showed how policy should be arch...
Jul. 7, 2015 09:30 PM EDT Reads: 1,231
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
Jul. 7, 2015 08:00 PM EDT Reads: 978
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Jul. 7, 2015 07:00 PM EDT Reads: 2,669
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Jul. 7, 2015 07:00 PM EDT Reads: 2,636
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Jul. 7, 2015 05:45 PM EDT Reads: 2,512
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
Jul. 7, 2015 05:00 PM EDT Reads: 2,324
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
Jul. 7, 2015 05:00 PM EDT Reads: 2,291
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 04:45 PM EDT Reads: 1,749
"CenturyLink brings a full suite of services to the table and that enables us to be an IT service provider," explained Jeff Katzen, Director of the Cloud Practice at CenturyLink, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 04:15 PM EDT Reads: 874
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Jul. 7, 2015 04:00 PM EDT Reads: 1,997
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Jul. 7, 2015 03:45 PM EDT Reads: 2,720
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Jul. 7, 2015 03:45 PM EDT Reads: 1,468