CapGain Properties Inc. Announces Full Conversion of Debentures
Calgary, Alberta--(Newsfile Corp. - April 17, 2019) - CapGain Properties Inc. (TSXV: CPP.H) ("CapGain" or the "Company") is pleased to report that it has completed additional restructuring transactions.
On February 19, 2019 and February 20, 2019, the Corporation received variations on cease trade orders from the Alberta Securities Commission and the British Columbia Securities Commission, respectively, to allow for conversion of the Company's outstanding convertible debentures (the "Debentures") into up to 37,500,000 common shares of the Company.
On April 15, 2019, the Company complete a second and final close of the Debenture conversion and converted the full remaining outstanding face value of $88,000 of Debentures plus their accrued and unpaid interest into 6,852,160 common shares of the Company. The common shares were issued to debenture holders on a pro-rata basis based on the face value of the Debentures.
About CapGain Properties Inc.
CapGain is an investment company with a focus on the acquisition of income producing businesses.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Arthur Kwan, Chief Executive Officer
CapGain Properties Inc.
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