TORONTO, ON / ACCESSWIRE / May 6, 2024 / IC CAPITALIGHT CORP. (the "Company" or "Capitalight") (CSE:IC), is pleased to announce the completion of a successful transaction with AJ2 Logistics LLC ("Railstate"), a Washington D.C. based rail logistics data software company.
Described as ‘live data like google maps but for north america's rail network' Railstate's mission is to provide rail network transparency to all users so they choose rail first, benefitting both the supply chain and the environment. Railstate's unique data, produced from a sensor network utilizing Artificial Intelligence, gives railroad shippers, infrastructure operators and users the impartial insights they need to optimize their supply chain. Learn more at www.railstate.com.
In late 2022, IC Capitalight was approached to provide bridge financing to Railstate. The bridge was designed to allow Railstate to complete a subsequent equity financing. In April 2023, Capitalight advanced US$300,000 to Railstate and arranged for other investors to provide an additional US$100,000 through the Capitalight facility, structured as a loan with equity purchase warrants.
On April 30, 2024, Railstate announced the completion of an equity financing for US$4.2 million resulting in Capitalight's US$300,000 principal amount repayment with interest. Capitalight received a total of US$62,850 in interest and fees representing a one-year return on capital of 20.9%. Capitalight also continues to participate in Railstate's future growth through warrants to purchase equity in Railstate on favorable terms. These warrants were granted in connection with the bridge and equity financing.
ABOUT IC CAPITALIGHT CORP.
IC Capitalight Corp. operates as a merchant bank that pursues value-based investment opportunities in accordance with its internal investment policies. The Company provides shareholders with long-term capital growth by investing in a portfolio of private company investments and mineral exploration properties that are expected to generate positive cash flows.
The company is listed on the CSE under the symbol "IC." To learn more about the Company please visit http://www.capitalight.co
For further information contact: +1.866.653.9223 or info@capitalight.co
SOURCE: IC Capitalight Corp.
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