Capitalight Congratulates Railstate ON Transaction
CAPITALIGHT CONGRATULATES RAILSTATE ON TRANSACTION
NEWS RELEASE – TORONTO, 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 [email protected]