StreamTrack, Inc. (OTCPK:STTK) announced that it has entered into an investment agreement for a private placement of warrants for gross proceeds of $500,000 on April 27, 2015. The transaction included participation from new accredited investor, RTV Media Corp. If the investor does not invest at least a total of $125,000 by July 31, 2015, an additional $125,000 by October 15, 2015, an additional $125,000 by January 15, 2016 and an additional $125,000 by April 15, 2016, in each case with a 15 day grace period, then the company may declare a breach of the agreement. The exercise price of the warrants is equal to 85% of the average closing price of the company's common stock on the over-the-counter market during the 10 trading days immediately preceding the date of the exercise of the warrants, with a minimum exercise price of $0.001 per share. Each party to the transaction will pay for their attorneys' fees and all other costs. On conversion, the investor must not at any time beneficially own more than 4.99% of the total issued and outstanding beneficially owned voting stock of the company.

On the same date, the company announced that it has received $75,000 in its first tranche closing. The company will receive the remaining funding of $425,000 in multiple tranches over the next 12 months until April 15, 2016. The company will receive $25,000 each on May 20, 2015 and July 31, 2015, $42,000 each on the 15th of every month from August 2015 to March 2015, and $39,000 as part of the last tranche on April 15, 2016.