Business
Aumento Capital VI Corporation Announces Completion of $21.5 Million Financing of CryptoStar Inc.
Toronto, Ontario--(Newsfile Corp. - January 8, 2018) - Aumento Capital VI Corporation (TSXV: A...
About this update from Cryptostar Corp.
[{"type":"text","content":"Aumento Capital VI Corporation Announces Completion of $21.5 Million Financing of CryptoStar Inc.Toronto, Ontario--(Newsfile Corp. - January 8, 2018) - Aumento Capital VI Corporation (TSXV: AUO.P) (\"ACC\" or the \"Corporation\") and CryptoStar Inc. (\"CryptoStar\") are pleased to announce that on January 4, 2018, CryptoStar completed a private placement of 43,000,000 common shares of CryptoStar at a price of $0.50 per share for gross proceeds of $21,500,000 (the \"Private Placement\"). The net proceeds from the Private Placement are anticipated to be used to expand mining capacity of CryptoStar and for general working capital expenses. On December 22, 2017 the Corporation and CryptoStar announced they had entered into a letter of intent with respect to a reverse takeover of the Corporation by CryptoStar and its shareholders. The Corporation is a capital pool company and intends for the acquisition of CryptoStar to constitute its Qualifying Transaction (as such term is defined in the policies of the TSX Venture Exchange (the \"TSXV\")). Further details regarding the Qualifying Transaction are available in the Corporation's press release issued December 19, 2017.For further information:Aumento VI Capital CorporationDavid Danziger, Chief Executive [email protected] Inc.David Jellins, [email protected] of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and if applicable pursuant to TSX Venture Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information release or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.NEITHER TH...