CapGain Properties Inc. Announces Appointment of New Director and Director Resignation

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Praveen Varshney is a principal of Vancouver based Varshney Capital Corp., a family-owned venture capital, merchant banking, and corporate advisory services firm. Varshney Capital invests in a wide variety of industries, including but not limited to real estate, resource, technology, and alternative energy. Varshney Capital's current projects include:


Mountain Province Diamonds, the largest diamond mine under development globally with DeBeers as a partner; Canada Zinc Metals, a significant zinc deposit being developed in British Columbia; andMogo.ca, Canada's largest online unsecured consumer lending company. Mr. Varshney's real estate experience includes the development and acquisition of properties throughout North America in a variety of sectors ranging from commercial and industrial to retirement homes and hotels. He is a 1987 graduate from the University of British Columbia, and he subsequently earned his Chartered Accountant designation with KPMG.

Christopher Kape has resigned as a director of the Corporation due to other commitments. CapGain would like to thank Mr. Kape for his contributions to the Corporation and wish him the best in his future endeavours.

CapGain would also like to clarify that Greg McLean, although a nominee as a director at its last shareholders' meeting, was unable to act as a director due to other business commitments and therefore has not been appointed to the Board of Directors.