True joins with Capstream Ventures to form True Axion Games
True Corp’s wholly owned subsidiary True Incube Company will invest in 20 million common shares of Capstream Ventures Inc, a company listed on the Toronto Stock Exchange, at the price of 50 Canadian cents per share, True reported to the Stock Exchange of Thailand yesterday.
The total investment of C$10 million (Bt265 million) represents 8.84 per cent of the total issued shares of Capstream after the capital increase.
Furthermore, True Incube has agreed with Capstream to establish a new joint venture, incorporated in Thailand under the name True Axion Games Ltd, which will become a True associated company.
True Axion Games is a video-game and application development studio and video-game development training academy, which will have registered capital of Bt89 million.
Axion Interactive Inc will hold 49 per cent in the JV, while True Incube will secure 40 per cent and Red Anchor (Thailand) Co 11 per cent.
