Gainey Extends Expiry Date of Outstanding Warrants
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#501 – 595 HOWE STREET VANCOUVER, BC, CANADA V6C 2T5 TEL : 604-685-4655 FAX : 604-685-4675 ________________________________________________________________________________________
TSX Venture Trading Symbol: GNC May 6, 2016
GAINEY EXTENDS EXPIRY DATE OF OUTSTANDING WARRANTS
Gainey Capital Corp. (TSXV: GNC) (“Gainey” or the “Company”) is pleased to announce that it has applied to the TSX Venture Exchange to extend the expiry date for 13,617,500 of its outstanding unlisted common share purchase warrants (the “Warrants”). The Warrants, each of which is currently exercisable to purchase one common share of the Company at $0.30 per share, were originally issued by the Company as part of nonbrokered unit private placement financing completed in May 2014 (“the Private Placement”). The Company will extend the expiry date of the Warrants to 4:30 pm PST on May 23, 2018 subject to TSX Venture Exchange approval.
The Company currently has an aggregate of 14,502,900 Warrants issued and outstanding pertaining to the Private Placement, of which only 13,617,500 Warrants are eligible for amendment, pursuant to the policies of the Exchange. A total of 885,400 Warrants issued as finders' warrants under the Private Placements are not eligible for amendment.
The extension provides the Company with the opportunity to raise funds without conducting a new equity financing which would cause significant dilution to the existing shareholders. The Warrant exercise proceeds are intended to be spent on advancing exploration of the Company's properties in Mexico and for general working capital purposes.
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 [email protected] .
ON BEHALF OF THE BOARD OF DIRECTORS
“David Coburn”
David Coburn, Chief Executive Officer
For information, please contact the Company:
Phone: 602-315-1231 E-mail: [email protected] Website: www.gaineycapital.com
FORWARD LOOKING STATEMENTS: This press release may contain forward-looking statements. Forwardlooking statements are statements that are not historical facts and are generally, but not always, identified by
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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.