Quantum International Income Corp. Releases Third Quarter Financial Results
Toronto, Ontario (FSCwire) - Quantum International Income Corp. (the "Corporation" or "Quantum") (TSXV: QIC) announces that it has released its financial results for the three and nine months ended November 30, 2016 (the "Third Quarter Financial Results"), which contain the first financial results from Lucky Bucks HoldCo, LLC ("LBI"), a Georgia limited liability company in which the Corporation has a 51% interest, since the Corporation acquired its interest in LBI in October 2016. The Third Quarter Financial Results and related management's discussion and analysis can be accessed under the Corporation's issuer profile on SEDAR at www.sedar.com.
The Corporation further announces that the board of directors of the Corporation (the "Board") has appointed Mark Lerohl as a director. Mr. Lerohl is President of Radar Capital Inc. ("Radar Capital"), a private investment firm focused on making growth equity investments. Prior to that Mark spent over 15 years in the finance industry, more than a decade of which was dedicated to investment banking. Before Radar Capital, Mark focused on servicing Canadian private equity firms with Macquarie Capital Markets Canada. Mark holds an MBA from the Ivey Business School at Western University, and a BSc. in math and economics from the University of Alberta. He is also a CFA Charterholder. The commencement of Mr. Lerohl's active involvement with the Corporation is subject to the approval of the TSX Venture Exchange.
Manu K. Sekhri, Chief Executive Officer of the Corporation, commented “We are delighted to welcome Mark to the Board. Mark's experience as principal investor, M&A advisor and corporate financier will prove invaluable as we pursue our aggressive consolidation strategy in Georgia.”
The Corporation also announces that, further to the Corporation's press release dated January 30, 2017, the Corporation anticipates that the Corporation's acquisition of 100% of the businesses of Triple 7's Amusement LLC and Lucky Star Amusement will be completed through LBI.
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 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, the 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.
To view this press release as a PDF file, click onto the following link:
Source: Quantum International Income Corp. (TSX Venture:QIC, TSX Venture:QIC.U)
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