(Toronto: May 5, 2017) Quantum International Income Corp. (the “Corporation” or “Quantum”) (TSXV: QIC) announces that it intends to complete a non-brokered private placement of units of the Corporation (“Units” and each a “Unit”) at a price of $0.17 per Unit for gross proceeds to the Corporation of up to $600,000 (the “Offering”). Each Unit will be comprised of one common share of the Corporation (a “Unit Share”) and one common share purchase warrant (a “Warrant”), with each Warrant entitling the holder thereof to purchase one common share of the Corporation (a “Warrant Share”) for a period of 36 months from the closing date of the Offering at a price of $0.215 per Warrant Share. The Units, Unit Shares, Warrants, and Warrant Shares are collectively referred to herein as the “Offered Securities”. The Corporation intends to use the proceeds from the Offering primarily to strengthen the Corporation’s balance (including the reduction of outstanding payables) and for general corporate and working capital purposes. The Offered Securities to be issued under the Offering will be offered pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Closing of the Offering is anticipated to occur on or before May 25, 2017 and is subject to receipt of all required regulatory approvals including the approval of the TSX Venture Exchange. The Securities issued under the Offering will be subject to a four month hold period which will expire four months and one day from the date of closing of the Offering.
About Quantum International Income Corp.
The Corporation seeks opportunities to acquire and grow businesses in order to generate stable distributions for its shareholders, along with capital appreciation. The Corporation seeks to acquire operating businesses with a proven track record, an opportunity for growth and whose management wishes to continue to operate the business going forward. The Corporation’s investment approach is to grow through the acquisition of “platform” businesses that are consistent with its business strategy and acquisition criteria and then to continue to build revenues and earnings within these businesses. Potential acquisition targets may be private or public companies in a variety of industries. Acquisition of all or a majority of the ownership of each such business is preferred. Value will be created by seeking out high growth, high margin opportunities where the acquired businesses can maintain and develop the deep knowledge, expertise and understanding of their customers’ needs required to deliver superior service and command higher pricing and margins than the competition.
More information on Quantum is available at www.quantumincomecorp.com.
|For further information please contact Quantum:Hassan Ijaz
Tel. (416) 477-3419
Tel. (416) 477-3411
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This release contains certain information which, as presented, constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information involves statements that relate to future events and often addresses expected future business and financial performance, containing words such as “expect” and “intend”, statements that an action or event “may” or “will” be taken or occur, or other similar expressions. These statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Corporation to control or predict, and which may cause Quantum’s actual results, performance or achievements to be materially different from those expressed or implied thereby, including factors discussed in the Corporation’s annual information form dated July 23, 2015, (the “Annual Information Form”) which is available on SEDAR under Quantum’s profile at www.sedar.com. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, in the Annual Information Form, and as otherwise disclosed from time to time on SEDAR under Quantum’s profile at www.sedar.com.
Unless otherwise specified in this release, information contained in this release is current as of the date of this release. Unless otherwise specified, all dollar amounts herein refer to Canadian dollars. The Corporation undertakes no obligation to update forward-looking statements except as may be required by applicable Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.