TORONTO, Oct. 13, 2017 (GLOBE NEWSWIRE) -- Quinsam Capital Corp. (“Quinsam”) (CSE:QCA) is
pleased to announce that it has closed a non-brokered private placement of 16,163,326 units (“Units”) at a price
of CAN$0.15 per Unit, for gross proceeds of $2,424,499.95 (the “Offering”).
Each Unit consists of one (1) common share in the capital stock of Quinsam (“Common Share”) and
one-half (1/2) of one common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to
purchase one Common Share at a price of CAN$0.30 per Common Share until the date which is twenty-four (24) months following the
closing date of the Offering, whereupon the Warrants will expire.
A cash finder’s fee in the aggregate amount of $141,946.50 equal to up 8% of the total proceeds raised by
finders pursuant to the Offering was paid and a total of 946,305 finder’s warrants (“Finder Warrant”) were issued
as part of finders fees in connection with their involvement in the Offering. Each Finder Warrant will entitle the holder to
purchase one Common Share at a price of CAN $0.15 until the date which is twenty-four (24) months following the closing date of the
Offering, whereupon the Finder Warrants will expire.
Quinsam intends to use the net proceeds from the Offering to purchase financial interests in cannabis companies
and for general working capital purposes.
The securities issued and issuable pursuant to the Offering will be subject to a four month and one day
statutory hold period.
About Quinsam Capital Corporation
Quinsam is a merchant bank based in Canada. Our merchant banking business may encompass a range of activities
including acquisitions, advisory services, lending activities and portfolio investments. Quinsam invests its capital for its own
account in assets, companies or projects which we believe are undervalued and where we see a viable plan for unlocking such value.
We do not invest on behalf of any third party and we do not offer investment advice.
Generally, Quinsam does not believe that individual investments are material reportable events. Quinsam chooses
to announce certain investments once the company is certain that it has finished buying its position because the Company feels that
this information helps Quinsam's investors understand its investment decision making process. Generally, Quinsam does not announce
the sale of investments.
For further information please contact:
John Lewis, Business Development
(416) 523-7086
john@quinsamcapital.com
Eric Szustak, President
(905) 330-7948
eric@quinsamcapital.com
Roger Dent, CEO
(647) 993-5475
roger@quinsamcapital.com
This press release may contain forward-looking statements relating to anticipated future events, results,
circumstances, performance or expectations that are not historical facts but instead represent our beliefs regarding future events,
which are inherently uncertain. Forward-looking statements can often, but not always, be identified by forward-looking words such
as "anticipate", "believe", "continue", "expect", "goal", "plan", "intend", "estimate", "may", "project", "predict", "potential",
"target", and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions,
intentions or statements about future events or performance. By their nature, forward-looking statements require us to make
assumptions which include, among other things, that (i) Quinsam will have sufficient capital under management to effect its
business strategies, (ii) the business strategies will produce the results intended by Quinsam, and (iii) the markets will react
and perform in a manner consistent with the business strategies.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes that
the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations
will prove to be correct. Some of the risks and other factors that could cause actual results to differ materially from those
expressed in forward-looking information expressed in this press release include, but are not limited to: market and general
economic conditions, interest rates, regulatory and statutory developments, the nature of the Company's investments, the available
opportunities and competition for investments, the concentration of the Company's investments in certain industries and sectors,
reliance on key personnel, risks affecting the Company's investments, management of the growth of the Company, and exchange rate
fluctuations. Readers are cautioned that the foregoing list of risks and factors is not exhaustive. Although the Company has
attempted to identify important factors that could cause actual events or results to differ materially from those described in
forward-looking information, there may be other factors that cause events or results to differ from those intended, anticipated or
estimated. The forward-looking information contained herein is provided as of the date of this press release, based upon the
opinions and estimates of management and information available to management as at the date of this press release. The Company does
not undertake and specifically disclaims any intention or obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, unless required by applicable law. Readers are cautioned not to place
undue reliance on forward-looking information contained in this press release.