|By Marketwired .||
|August 6, 2013 01:09 PM EDT||
LAKE IN THE HILLS, ILLINOIS -- (Marketwired) -- 08/06/13 -- CapGain Properties Inc. (TSX VENTURE:CPP) is pleased to announce that its wholly-owned subsidiary, CapGain Holdings Inc. ("CapGain"), has come to terms and has entered into an option agreement with Win Capital Group LLC ("Win Capital") to purchase additional ownership interest in Orlando MF Partners LLC ("Orlando MF Partners"), which is a single purpose entity whose sole asset are the properties located at 1200 West Holden Avenue, Orlando, Florida and 4855 South Orange Blossom Trail, Orlando, Florida.
CapGain currently has a 45.36% interest in Orlando MF Partners, and the aforementioned option agreement will allow CapGain to acquire up to 29.57% of Win Capital's, one of the other current interest holders, interest in Orlando MF Partners. In consideration for the option to acquire the additional interest, CapGain Properties Inc. shall grant Win Capital warrants on 1,083,600 shares of CapGain Properties Inc. priced at $0.10 per share.
The foregoing grant of warrants is subject to approval by the TSX Venture Exchange.
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.
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.
CapGain Properties Inc.
Chief Executive Officer