Giga Capital Corporation
TSX VENTURE : GIG.H

March 25, 2011 19:18 ET

Giga Capital Corporation: Withdrawal of Proposed Transaction With Join Pacific Investment Ltd.

CALGARY, ALBERTA--(Marketwire - March 25, 2011) -

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Giga Capital Corporation (TSX VENTURE:GIG.H) ("Giga" or the "Corporation") announced today that it has decided not to proceed with its proposed Qualifying Transaction with Join Pacific Investment Ltd. ("Join"), which was previously announced on May 18, 2010. In addition, the previously announced private placement of common shares of Giga will also not be proceeding, as the private placement was to occur in connection with the transaction with Join.

Giga intends to identify and evaluate new businesses opportunities and seek other qualified candidates with a view of completing a Qualifying Transaction under the policies of the TSX Venture Exchange ("TSXV") in the future. All potential transactions will be subject to the approval of the TSXV and there is no assurance that a Qualifying Transaction will be completed.

Forward Looking Information

Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Giga's beliefs, plans, expectations, anticipations, estimates and intentions in respect of pursuing new businesses opportunities with a view of completing a Qualifying Transaction under the policies of the TSXV. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes Giga's expectations as of the date of this news release.

By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the party's control including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, inability to meet or continue to meet listing requirements on the NEX board of the TSXV, the inability to obtain required consents, permits or approvals, failure to identify suitable candidates for completion of a Qualifying Transaction, failure to complete a Qualifying Transaction and the risk that actual results will vary from the results forecasted and such variations may be material. 

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Giga's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Giga will derive therefrom. There is no assurance that the necessary approvals for completion of a proposed Qualifying Transaction. 

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law Giga disclaims any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Giga Capital Corporation
    (403) 716-2230 or Cell: (403) 554-6241
    (403) 263-0502 (FAX)