LAKE IN THE HILLS, ILLINOIS -- (Marketwired) -- 05/14/13 -- Further to the news release dated April 29, 2013, in which CapGain Properties Inc. (TSX VENTURE: CPP) ("CapGain") announced the appointment of Ross Amos to CapGain's Board of Directors, CapGain is now pleased to announce the option price of the options Mr. Amos shall receive in consideration for his work on CapGain's Board of Directors has been amended from $0.07 to $0.10. The amount of common shares that may be acquired under the option remains at 50,000.
Mr. Amos has over 27 years of experience in the real estate industry in both the public and private sectors. He has served as CFO of Pagecorp Ltd., which converted 28 real estate partnerships comprising of 4,500 partners and 3,000 apartment units and a 160 room hotel, into an entity publicly traded on the TSX. Mr. Amos has also served as Vice President and President of several real estate development companies, and was President of Journey's End General Partner Company, in which he managed 64 limited partnerships, each of which owned at least one hotel, and administered the liquidation of over $250,000,000 worth of those hotel investments. Most recently, Mr. Amos served as President of Everest Canadian Properties Company where he developed Canada's first comprehensive liquidation program for previously illiquid limited partnerships. Mr. Amos currently is also a Director on the Boards of Contrans Group Inc. and Centurion Property Investments Inc.
The foregoing appointment is subject to approval by the TSX Venture Exchange.
CapGain is an investment company that purchases, re-structures when applicable, and sells real estate in the United States, with a forward moving focus on income producing real estate. CapGain's contacts within the real estate and finance industries allow the purchase of properties significantly below market value.
Additional information on the operations or financial results of CapGain is included in reports on file with applicable securities regulatory authorities and may be accessed through the TMX website (www.tmx.com) and the SEDAR website (www.sedar.com) under the profile for CapGain.
Forward-Looking Statements, if any
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.
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.
Chief Executive Officer
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