An investment issuer Capstream Ventures Inc. entered into an investment agreement with Red Anchor Trading Corp., a British Virgin Islands-registered company mainly operating in Bangkok, Thailand. Red Anchor is engaged in developing "HotNow" application, which is a marketing automation platform for retailers to offer various promotions in genres of their interests and within their proximity.
According to the Investment Agreement, Capstream has agreed to invest US$1.5 million in the BVI company, to purchase 9,375 of its ordinary shares, which make 15.9% of its voting shares on a fully diluted basis. The investment proceeds will be used for funding working capital of Red Anchor. The Agreement is subject to final TSXV approval.
According to the Investment Agreement, Capstream has agreed to invest US$1.5 million in the BVI company, to purchase 9,375 of its ordinary shares, which make 15.9% of its voting shares on a fully diluted basis. The investment proceeds will be used for funding working capital of Red Anchor. The Agreement is subject to final TSXV approval.