Quantum International Income Corp. Announces Share Consolidation
Toronto, Ontario (FSCwire) - Quantum International Income Corp. (the "Corporation" or "Quantum") (TSXV: QIC) announces that it intends to proceed with a consolidation of its issued and outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every three (3) pre-consolidation Common Shares (the "Consolidation"). The Consolidation was previously approved by the shareholders of the Corporation ("Shareholders") at the annual and special meeting of the Shareholders held on May 18, 2016, and is subject to approval by the TSXV.
The directors of the Corporation believe that the proposed Consolidation better positions the Corporation going forward from a trading and financial reporting perspective.
The Corporation intends the effective date of the Consolidation to be March 17, 2017 with the Common Shares trading on a post-Consolidation basis beginning at the open of markets on March 20, 2017. As of the date of this press release, a total of 181,458,887 Common Shares are issued and outstanding. Assuming the implementation of the Consolidation, a total of approximately 60,486,296 post-Consolidation Common Shares would be issued and outstanding, subject to the treatment of fractional interests. Any fractional interest of 0.5 or more of a Common Share resulting from the Consolidation will be rounded up to the nearest whole Common Share and any fractional interest of less than 0.5 of a Common Share resulting from the Consolidation will be rounded down to the nearest whole Common Share. There is no name change in conjunction with the Consolidation, and the Corporation's trading symbol on the TSXV will remain the same.
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.
Tel. (416) 477-3419
Tel. (416) 477-3411
Neither the 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 related to the inability by Quantum to complete the Consolidation, as well as 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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