VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2017) - Capstream Ventures Inc. (the "Company") (TSX VENTURE:CSP), a publicly traded investment company, is pleased to announce that it intends to proceed with a name change to "Axion Ventures Inc." (the "Name Change").
"We are excited to announce this name change in an effort to expand our brand," said John Todd Bonner, CEO and Chairman of the Company. "Since completing our listing on the TSX Venture Exchange (the "Exchange") in May 2016, we have:
- acquired additional interest in one of our assets, Axion Games Limited;
- closed two private placements for gross proceeds of over $20 million;
- entered into an agreement to acquire an interest in a company engaged in developing a marketing automation platform for retailers to offer various promotions;
- graduated to Tier 1 Issuer status from Tier 2 Issuer on the Exchange; and
- formed a joint venture to establish a video game academy and development studio in Thailand."
"We continued with the name "Capstream Ventures Inc." after completion of our listing in May 2016; however, we believe the name change will better reflect our portfolio and strategy to build a leading technology investment company."
The Name Change is subject to Exchange approval and the Company will provide further updates regarding the Name Change, including the effective date, the Company's new trading symbol and the Company's new website.
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; (ii) Innovega Inc., a private display technology eyewear and contact lense company with offices in San Diego, California and Bellevue, Washington; and (iii) True Axion Games Ltd., a newly formed private video game company with primary operations intended in Bangkok, Thailand.
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 the Company's current belief or assumptions as to the outcome and timing of such future events. Forward-looking statements in this news release include statements regarding the proposed Name Change, the Company's strategy, updates regarding the proposed Name Change, and future and the location of True Axion Games Ltd.'s business. 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 the Company. 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: the Company may decide not to complete the Name Change; the failure to obtain final Exchange approval; and changes in regulatory regime. The Company 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 the Company 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.