Capstream Announces Establishment of Joint Venture With True Incube, True Incube CAD$10 Million Investment in Capstream & Provides a Business Update
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 27, 2016) - Capstream Ventures Inc. (“Capstream” or the “Company“) (TSX VENTURE:CSP) and True Incube Co., Ltd. (“True Incube“), a subsidiary of True Corporation Public Company Limited (“True Corporation“), one of Southeast Asia’s leading telecommunications, media enterprises and game publishers, have agreed to form a joint venture to establish a video game academy and development studio in Thailand. Under the terms of a joint venture and shareholders’ agreement (the “JVA“), the joint venture will operate as a newly incorporated Thai company proposed to be named “True Axion Games Ltd.” (“True Axion Games“) with a wholly-owned subsidiary of Capstream (“Axion Interactive“) holding a 49% equity interest in True Axion Games, True Incube holding a 40% equity interest in True Axion Games and Red Anchor (Thailand) Co., Ltd. (“Red Anchor“), a limited company organised and existing under Thai law, holding a 11% equity interest in True Axion Games.
