Capstream Ventures Inc.
TSX VENTURE : CSP

August 29, 2016 14:46 ET

Capstream Announces Closing of $10.1 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 29, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR ISSEMINATION IN THE UNITED STATES

Capstream Ventures Inc. ("Capstream" or the "Company") (TSX VENTURE:CSP) is pleased to announce that it has today closed a private placement (the "Private Placement") of 20,242,600 common shares (the "Shares") at a price of C$0.50 per Share for gross proceeds of C$10,121,300.

Proceeds of the Private Placement will be used for working capital requirements for further investment activities and other general corporate purposes.

PI Financial Corp. ("PI") acted as agent with respect to a portion of the Private Placement and received a fee of C$247,278. PI was also reimbursed by the Corporation for its expenses in connection with the Private Placement. The remainder of the Private Placement was non-brokered.

The Private Placement is subject to final approval from the TSX Venture Exchange (the "Exchange"). All Shares issued pursuant to the Private Placement are subject to a four-month hold period expiring on December 30, 2016.

On behalf of the Company

"John Todd Bonner", Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Cautionary Statement Regarding Forward-Looking Information

Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "proposed" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Capstream's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Capstream. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the Exchange, the failure to obtain final Exchange approval; general economic and business conditions; and changes in regulatory regime. Capstream cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and Capstream is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Contact Information

  • John Todd Bonner
    Chief Executive Officer
    604.687.7767