LAKE IN THE HILLS, ILLINOIS--(Marketwired - Sept. 26, 2013) - CapGain Properties Inc. ("CapGain" or the "Corporation") (TSX VENTURE:CPP) announces that Praveen Varshney has been appointed to its Board of Directors and Christopher Kape has resigned as a director.
Praveen Varshney is a principal of Vancouver based Varshney Capital Corp., a family-owned venture capital, merchant banking, and corporate advisory services firm. Varshney Capital invests in a wide variety of industries, including but not limited to real estate, resource, technology, and alternative energy. Varshney Capital's current projects include: Mountain Province Diamonds, the largest diamond mine under development globally with DeBeers as a partner; Canada Zinc Metals, a significant zinc deposit being developed in British Columbia; and Mogo.ca, Canada's largest online unsecured consumer lending company. Mr. Varshney's real estate experience includes the development and acquisition of properties throughout North America in a variety of sectors ranging from commercial and industrial to retirement homes and hotels. He is a 1987 graduate from the University of British Columbia, and he subsequently earned his Chartered Accountant designation with KPMG.
Christopher Kape has resigned as a director of the Corporation due to other commitments. CapGain would like to thank Mr. Kape for his contributions to the Corporation and wish him the best in his future endeavours.
CapGain would also like to clarify that Greg McLean, although a nominee as a director at its last shareholders' meeting, was unable to act as a director due to other business commitments and therefore has not been appointed to the Board of Directors.
CapGain is an investment company that is focused on the acquisition of income producing real property in select markets in the United States. The Company's management and expertise within the real estate and finance industries allow it to acquire properties at significantly below market value.
Additional information on CapGain may be accessed through the TMX website (www.tmx.com) and the SEDAR website (www.sedar.com) under the profile for CapGain.
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.
This press release may contain forward-looking statements within the meaning of applicable legislation. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology.
Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether CapGain is able to meet price, performance, quality and delivery requirements. Although CapGain believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. CapGain undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.