VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 2, 2016) - Capstream Ventures Inc. ("Capstream" or the "Company") (TSX VENTURE:CSP) is pleased to announce that it has been approved for graduation to Tier 1 Issuer status from Tier 2 Issuer status by the TSX Venture Exchange (the "TSXV").
Tier 1 is the TSXV's premier tier and is reserved for the TSXV's most advanced issuers with the most significant financial resources. Tier 1 Issuers benefit from decreased filing requirements and improved service standards.
"We are pleased with our graduation to a Tier 1 listing on the TSXV less than six months following the completion of our Qualifying Transaction," said CEO Todd Bonner. "This represents another positive milestone in our continuing development."
With the graduation to a Tier 1 listing, the common shares of Capstream previously deposited into escrow pursuant to the rules of the TSXV will now be governed by the release provisions of Tier 1 Issuer escrow. As such, an aggregate of 11,943,609 common shares will be immediately releasable from escrow and an aggregate of 105,562,564 common shares that will remain in escrow will be released from escrow as follows: 28,134,512 common shares are releasable November 17, 2016; 35,187,516 common shares are releasable on May 17, 2017; and the remaining 42,240,536 common shares are releasable on November 17, 2017. However, 29,909,520 of the common shares deposited into escrow pursuant to the rules of the TSXV were deposited into a separate performance based escrow and have not yet been released. Therefore, until the performance escrow conditions are met and the performance escrow shares are released, the actual escrow release from Computershare Investor Services Inc. shall be as follows: 9,141,707 immediately; 21,499,400 on November 17, 2016; 26,867,875 on May 17, 2017; and 32,236,351 on November 17, 2017.
Capstream is an Investment Issuer with interests in: (i) Axion Games Limited, a private online video games development and publishing company with primary operations in Shanghai, China; and (ii) Innovega Inc., a private display technology eyewear and contact lense company with offices in San Diego, California and Bellevue, Washington.
On behalf of Capstream Ventures Inc.
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.
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: 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.