pcNewsWire – Gainey Capital Corp. (TSX-V: GNC; OTCPK: GNYPF) has arranged a non-brokered private placement of up to 20,833,333 units at $0.12 per unit for gross proceeds of up to $2,500,000.
Proceeds will be used for exploration activities at the company’s 100%-owned El Colomo project located in the states of Nayarit and Durango, western Mexico.
Gainey Arranges $2,500,000 Financing
VANCOUVER, BC / ACCESSWIRE / June 21, 2017 / (TSXV: GNC) (OTC PINK: 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 activities 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.
Gainey Capital is a gold and silver exploration, development and mineral processing company exploring an aggregate of 187 sq kms strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The company’s processing centre, located outside of Huajicori, in Nayarit and Durango, Mexico, is capable of processing up to 300 tons of mineralized material per day with the capability to upgrade to 600 tons per day with a low capital expenditure. Additional information on Gainey Capital, its current operations and its vision is available on the Company’s website at www.gaineycapital.com or from email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer
For information, please contact the Company: