Still more acquistions Seven Aces Limited Acquires Gaming Contracts from Universal Games LLC
Wednesday, March 13, 2019 8:00 AM
Second Acquisition Completed in the Month of March
TORONTO, ON / ACCESSWIRE / March 13, 2019 / Seven Aces Limited (formerly Quantum International Income Corp.) (the "Company" or "Aces") (TSX-V: ACES) is pleased to announce that its 60% owned subsidiary, Lucky Bucks, LLC ("Lucky Bucks"), has acquired four (4) location contracts from Universal Games LLC., a digital skill-based gaming terminal operator based in the U.S. State of Georgia, in exchange for cash consideration of US$1,037,758 (the "Acquisition").
The purchase price for the Acquisition was funded by Lucky Bucks through an advance under the senior secured credit facility described in the press release of the Corporation dated November 15, 2018 and entitled "Quantum Announces Increase in Credit Facility to US$100 million; Other Corporate Updates ". The gaming terminals that have been acquired are fully licensed and governed by the Georgia State Lottery, and offer players a variety of skill-based coin-operated amusement machines.
Manu K. Sekhri, Chief Executive Officer of Seven Aces Limited, added the following remarks: "This acquisition is consistent with our strategy of adding high performing locations, in the state of Georgia."
The Acquisition was completed pursuant to a purchase agreement dated March 12, 2019 among Lucky Bucks and Universal Games LLC and Sandip Patel which will be available on SEDAR (www.sedar.com) under Aces' issuer profile.
About Seven Aces Limited
Seven Aces Limited (formerly Quantum International Income Corp.) is a gaming company, with a vision of building a diversified portfolio of world class gaming operations. The Corporation looks to enhance shareholder value by growing organically and through acquisitions. Currently, the Corporation is the largest route operator of skill-based gaming machines in the State of Georgia, United States of America.
For more information about ACES is available online at www.sevenaces.com.
For further information please contact Aces:
Manish Grigo
Vice President, Corporate Affairs
Tel. (416) 569-3292
manish@quantumincomecorp.com
Stephanie Lippa
Office Manager
Tel. (416) 477-3411
stephanie@quantumincomecorp.com