VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2013) - Brian E. Knight, of Algonquin, Illinois, announces that he has acquired beneficial ownership and control over an aggregate total of 8,469,230 common shares of CapGain Properties Inc. (the "Corporation") at a deemed price of $0.105 per common share and 380,000 common shares of the Corporation at a price of $0.075 per common share.
Prior to the acquisition, Mr. Knight did not did not own, nor have control or direction over, any common shares of the Corporation.
As a result of the acquisition, Mr. Knight now has beneficial ownership and control of an aggregate total of 8,849,230 common shares of the Corporation, which represents 18.62% of the Corporation's issued and outstanding common shares.
The 8,469,230 common shares were acquired by Mr. Knight pursuant to the Qualifying Transaction of the Corporation and the 380,000 common shares were acquired pursuant to a transfer within escrow in connection with the Qualifying Transaction. Mr. Knight may, in the future, acquire ownership and control over additional securities of the Corporation for investment purposes.
The 8,469,230 common shares of the Corporation were acquired by Mr. Knight pursuant to Section 2.16 of National Instrument 45-106 Prospectus and Registration Exemptions; and no exemption from securities legislation was required in relation to the acquisition of the 380,000 common shares transferred within escrow.