Quantum International Income Corp. Announces Exchange of Certain Notes
Toronto, Ontario (FSCwire) - Quantum International Income Corp. (the "Corporation" or "Quantum") (TSXV: QIC) announces that holders (the "Note Holders") representing $1,254,240 of principal amount ("Principal Amount") of secured senior exchangeable notes (the "Notes") of Quantum US Healthcare Corp., a wholly-owned subsidiary of the Corporation, have exchanged their Notes for a total of 25,084,800 common shares of the Corporation (the "Exchange Shares") pursuant to the terms and conditions of the facility agreement described in the Corporation's press release dated February 10, 2016 (the "Facility Agreement"). $119,972.45 in accrued interest on the Principal Amount has also become payable, and, pursuant to the Facility Agreement, the Corporation has elected to pay this amount through the issuance to the Note Holders of 1,499,650 additional common shares of the Corporation (the "Interest Shares") at a deemed issue price of $0.08 per Interest Share. As of the date of this press release, the Interest Shares have not been issued. The issuance of the Interest Shares is subject to TSX Venture Exchange approval.
After giving effect to the issuance of the Exchange Shares and the Interest Shares, the Corporation will have 181,458,887 common shares issued and outstanding on an undiluted basis and 210,473,087 common shares issued and outstanding on a fully-diluted basis (assuming full exercise of all issued and outstanding warrants and options of the Corporation). For additional information regarding the Notes, see the Corporation's press release dated February 10, 2016.
More information on Quantum is available at www.quantumincomecorp.com.
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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, but not limited to, risks and other 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.
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Source: Quantum International Income Corp. (TSX Venture:QIC, TSX Venture:QIC.U)
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