pcNewsWire – Quantum International Income Corp. (TSX-V: QIC) has completed its previously announced non-brokered private placement of 3,529,404 units at $0.17 per unit for gross proceeds of $600,000.
Proceeds are expected to be used by Quantum to strengthen its balance sheet (including the reduction of outstanding payables) and for general corporate and working capital purposes.
Not for distribution to United States newswire services or for dissemination in the United States
QUANTUM INTERNATIONAL INCOME CORP. COMPLETES PRIVATE PLACEMENT
(Toronto: May 29, 2017) Quantum International Income Corp. (the “Corporation” or “Quantum”) (TSXV: QIC) is pleased to announce that it has completed its previously announced non-brokered private placement of 3,529,404 units of the Corporation (each a “Unit”) at a price of $0.17 per Unit for aggregate gross proceeds of $600,000 (the “Offering”). Each Unit is 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 initially purchase one common share of the Corporation (a “Warrant Share” and together with the Units, Warrants, and Unit Shares, the “Securities”) at a price of $0.215 per Warrant Share at any time on or prior to May 29, 2020.
The net proceeds of the Offering are expected to be used by Quantum to strengthen its balance sheet (including the reduction of outstanding payables) and for general corporate and working capital purposes.
All of the Securities are subject to a hold period under Canadian securities laws expiring on September 30, 2017. The Offering is subject to final acceptance of the TSX Venture Exchange, which the Corporation expects to receive in due course.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered (including all underlying securities thereof) have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and such securities may not be offered or sold within the United States, or to, or for the account or benefit of, U.S. persons, absent U.S. registration or an applicable exemption from U.S. registration requirements.
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:
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.
SOURCE: Quantum International Income Corp.