Vancouver, BC - Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) announces that the Company has arranged a non-brokered private placement (the “Offering”) of up to 20,833,333 units (“Units”) in the capital of the Company at a price of $0.12 per Unit for gross proceeds of up to $2,500,000.
Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.24 per share for a period of 24 months. All securities issued in connection with the Offering will be subject to a statutory four-month plus one-day hold period. Finders’ fees may be paid in connection with this Offering.
The proceeds of the Offering will be used for exploration activites at the Company’s 100%-owned El Colomo project located in the states of Nayarit and Durango, western Mexico. The El Colomo project hosts 23 gold/silver mineralized zones which the Company continues to explore with drilling and geophysical testing. Detailed drill results from the La Nueva Victoria zone, one of the 23 El Colomo zones, are available in Gainey press releases dated September 28, 2016 and October 3, 2016, available at www.sedar.com.
About Gainey Capital Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer
For information, please contact the Company:
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FORWARD LOOKING STATEMENTS: This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise..
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.