Anil A. Damani Reports Holdings in Quantum International Income Corp.
Toronto, Ontario (FSCwire) - Anil A. Damani reports that on October 21, 2016, he and a person acting jointly or in concert with him (collectively, the "Acquirors") acquired 43,885,045 common shares (the "Acquired Shares") of Quantum International Income Corp. (the "Company") upon the closing of the transactions (the "Transactions") contemplated in a membership interest purchase agreement dated October 21, 2016 among Southern Star Gaming, LLC, a wholly-owned subsidiary of the Company, Lucky Bucks HoldCo, LLC, Mr. Damani, and Lucky Bucks Ventures, Inc., a corporation controlled by Mr. Damani (the "Agreement"). Pursuant to the Agreement, the Company indirectly acquired a controlling interest in Lucky Bucks, LLC (the "Controlling Interest"). As partial consideration for the Controlling Interest, the Company issued the Acquirors the Acquired Shares (the "Share Consideration"). The value of the Share Consideration was $3,932,100 (based on a deemed price of $0.0896 per Acquired Share).
Immediately prior to the closing of the Transactions, Mr. Damani owned no securities of the Company. Upon the closing of the Transactions, Mr. Damani owns or controls 43,885,045 common shares of the Company or approximately 28.34% of the issued and outstanding common shares of the Company (on a partially diluted basis).
The Acquirors acquired the Acquired Shares for investment purposes and may increase or reduce their investment in the Company according to market conditions or other relevant factors. The Acquirors currently has no other plans or intentions that relate to the acquisition or disposition of securities of the Company.
This news release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the anticipated filing of an early warning report (the "Early Warning Report") within the prescribed period. A copy of the Early Warning Report will be available on SEDAR under the Company's issuer profile at www.sedar.com.
For more information, please contact:
Anil A. Damani
5675 Jimmy Carter Blvd., Suite 725,
Norcross, GA 30071
Company's head office is located at:
79 Wellington Street West
Suite 1630, P.O. Box 138
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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