Business
Gainey Capital Announces Closing of Financing
VANCOUVER, BC / ACCESSWIRE / November 15, 2017 / Gainey Capital Corp. (the "Company" or "Gai...
About this update from Masivo Silver Corp.
[{"type":"text","content":"Gainey Capital Announces Closing of FinancingVANCOUVER, BC / ACCESSWIRE / November 15, 2017 / Gainey Capital Corp. (the \"Company\" or \"Gainey\") (TSX-V: GNC; OTC PINK: GNYPF) is pleased to announce that it has closed the second, and final, tranche of its previously announced non-brokered private placement by issuing an additional 5,979,653 units at a price of $0.12 per unit to raise gross proceeds of $717,758 with all securities issued having a four-month hold period which expires on March 11, 2018. Total gross proceeds of the Offering are $1,957,558 with a total of 16,312,986 shares, 16,312,986 warrants, and 385,000 Finders' Warrants being issued.\nAs previously announced, each Unit in this offering consists of one common share in the capital of the Company (each a \"Common Share\") and one share purchase warrant (a \"Warrant\"). Each full warrant entitles the Unit holder to purchase one (1) additional GNC common share at a price of $0.24 per share at any time within 36 months of the closing.\nWith respect to finders' fees, the Company will pay an aggregate of $30,000 in cash, issue 135,000 shares, and issue 385,000 Finders Warrants in connection with this offering. The Company issued 250,000 Finders' warrants exercisable at a price of $0.16 for a period of 24 months and 135,000 Finders' warrants at an exercise price of $0.24 for a period of 36 months.\nThe net proceeds of the Offering will be used to advance exploration activities at the Company's Mexican El Colomo property as well as for general working capital.\nAbout Gainey Capital Corp.\nGainey 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 [email protected].\nON BEHALF OF THE BOARD OF DIRECTORS,\n \"David Coburn\" David Coburn, Chief Executive Officer\nFor information, please contact the Company:\nPhone: 480-347-8904 E-mail: [email protected] Website: www.gaineycapital.com \nThis news release does not constitute an offer to sell or a solicitation of...