Red Branch Investments Ltd. entered into a memorandum of understanding to acquire 80% stake in Saksrithai Development Co. Ltd. on February 26, 2016. On June 2, 2016, Red Branch Investments Ltd assigned its interest to Vatic Ventures Corp. (TSXV:VCV.H). Vatic Ventures Corp. (TSXV:VCV.H) entered into a assignment and purchase agreement to acquire 80% stake in Saksrithai Development Co. Ltd. for THB 8 million on June 7, 2016. Under the terms, the consideration to be paid includes THB 8 million to Saksrithai shareholders. As consideration for the assignment, Vatic Ventures Corp. will issue 5.2 million common shares to Red Branch Investments plus a 1% NSR on the property. The agreement provides acquirer will fund a THB 50 million first stage exploration and development program which will include sufficient funding to satisfy work and expenditure commitments under the special prospecting licenses, to pay the Thailand project expenses and funding for general and administrative expenses in Thailand and Canada. In the event that the full amount of THB 50 million is not expended the Saksrithai shareholders will be entitled to a cash payment of 20% of the unspent balance. Upon closing of the transaction Gerry Wright, the principal of Red Branch Investments, will be joining the board of directors of Vatic Ventures Corp. The transaction is subject to TSX regulatory approval. On September 27, 2016, the company announced that it will now raise $1 million (THB 34.58 million) consisting of up to 13.3 million units priced at $0.075 per (THB 2.59) per unit. As of July 12, 2016, Vatic Ventures Corp. filed with the TSX Venture Exchange the preliminary documents required for the approval of the acquisition of 80% of Saksrithai Development Co. Ltd. The deal has received approval from the NEX Board of the TSX Venture Exchange on October 21, 2016. The currency conversion was done through 'www.oanda.com' on September 27, 2016. Vatic Ventures Corp. (TSXV:VCV.H) completed the acquisition of acquire 80% stake in Saksrithai Development Co. Ltd. on January 12, 2017.