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.
