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Routemaster Capital steps back from Pinedale deal

Routemaster Capital Inc. will not pursue the US$1.35 million deal to acquire 49% of Pinedale Springs LLC, as the investment does not align with Routemaster's strategic investment policies, according to a press release from Routemaster.

The decision came after Routemaster conducted due diligence into Cary, N.C.-based Pinedale Springs, following the signing of a letter of intent on Dec. 14, 2017, between the parties.

Routemaster also entered into an amended and restated cooperation agreement with GEAR Blockchain Inc. that clarifies Routemaster's role to provide GEAR with financial assistance and help with identifying green energy projects to power its crypto-mining business.

Routemaster will not be part of any offering or sale of GEAR's tokens, and assistance to GEAR will purely be advisory and nonbinding in nature.