GAINEY CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT

February 28, 2019 

 

Vancouver, British Columbia – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce that the Company has closed the second and final tranche of its non-brokered private placement (the “Offering”) announced on November 28, 2018 and will issue an additional 10,300,000 Units at a price of $0.05 per Unit for gross proceeds of $515,000.

 

In the first tranche close, the Company issued an aggregate of 15,000,000 Units at a price of $0.05 per Unit for gross proceeds of $750,000.  Each Unit consists of one common share and one common share purchase warrant which entitles the holder to purchase an additional common share of the Company at a price of $0.10 for a period of four years from the date of issuance.  

 

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.

 

The net proceeds of the Offering will be used to advance exploration activities at the Company’s Las Margaritas property located in the State of Durango, Mexico, as well as for general working capital.

 

About Gainey Capital Corp.

Gainey is a gold and silver exploration, development and ore processing company exploring an aggregate of 18,766 hectares strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The Company’s mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day.  Additional information on Gainey, its current operations and its vision, is available on the Company’s website at www.gaineycapital.com or from info@gaineycapital.com.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

   “David Coburn”

David Coburn, Chief Executive Officer

 

For information, please contact the Company:

Phone: 480-347-8904     

E-mail: info@gaineycapital.com

Website: www.gaineycapital.com

 

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.