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TORONTO, Oct. 02, 2018 (GLOBE NEWSWIRE) -- Quinsam Capital Corporation (CSE:QCA) ("Quinsam" or the "Company") is
pleased to announce that it expects a large number of liquidity events by its investee companies in the coming months.
“Quinsam has invested in a large number of pre-public companies over the last year” said Roger Dent, CEO of
Quinsam. “Many of these investments were in anticipation of going-public transactions. Following the usual slow period for
liquidity events in the summer of 2018, Quinsam now anticipates a very active period for liquidity events as we head into the end
of 2018. In all cases, we currently expect the liquidity events to have a positive impact on our NAV. We are at present very
optimistic about the prospects for our Q4 results.”
The timing of these liquidity events is not in Quinsam’s control and they are subject to regulatory approvals,
which may not be forthcoming. However, based on what has been announced, liquidity events anticipated in the near term include the
following:
Acreage Holdings: Quinsam invested $992,000 in Acreage at a pre-money value of approximately US$500 million.
Acreage has announced an RTO on the CSE with an anticipated listing in November. The RTO is with Applied Inventions Management
Corp. “We think that Acreage has the potential to be regarded as the premier US cannabis company” said Roger Dent. “Given the
market response to the current private financing by Curaleaf Inc., we would not be surprised to see Acreage trade at a very large
premium to our cost.”
FLRish Inc (dba Harborside): Quinsam invested US$1.25 million in this company and it has announced an RTO with
Lineage Grow Company Ltd., another Quinsam investee. We anticipate a well-received listing in December.
Halo Labs Inc. has received conditional listing approval from the CSE for its merger with Apogee Opportunities
Inc. We invested $500,000 in Halo Labs Inc. and we understand that listing is imminent.
Next Green Wave Holdings Inc., in which we invested $525,000 at $0.35 a share, has received conditional listing
approval. We anticipate trading in October 2018.
IM Cannabis Corp., in which we invested $400,000, has announced an RTO with Navasota Resources Inc. It expects
to list on the CSE in November.
Irri-Al-Tal Ltd. has announced an RTO with Sagittarius Capital Corp. Quinsam invested $350,000 in the company
and we anticipate trading in October.
Xtraction Services, Inc. has announced an RTO with Caracara Silver Inc. Quinsam invested US$400,000 in Xtraction
in convertible debentures.
Xanthic Biopharma Inc. is merging with Green Growth Brands, a major US cannabis growth initiative. Quinsam holds
in excess of 2 million shares of Xanthic. The merger was announced in July and we anticipate completion of the deal prior to the
end of the year.
Segra International Corp. intends to list its shares on the CSE prior to Oct. 31, 2018. Quinsam invested
$100,000 at $0.25 per share and $300,000 at $0.75 per unit.
MVC Technologies Inc. (dba Sail Cannabis), in which Quinsam invested $440,000, has announced its intention to go
public though an RTO with a numbered company. We anticipate trading later this year.
CityView Green has announced a going-public merger with Icon Exploration Inc. Quinsam acquired 3 million shares
of CityView Green as part of a mortgage loan advance. We anticipate a listing before year end.
Osoyoos Cannabis Inc. has announced an RTO with LKP Solutions Inc. Quinsam invested $500,000 in Osoyoos and we
anticipate trading later this year.
CannAmerica Brands Corp., in which we invested $495,000, has filed a preliminary prospectus for an IPO.
Grown Rogue Unlimited, LLC, in which Quinsam invested $440,000, has announced an RTO with Novicius Corp. A CSE
listing is expected.
Biome Grow Inc. (formerly Cultivator Catalyst) has announced that it has received conditional listing approval
from the CSE for its RTO transaction with Orca Touchscreen Technologies Ltd. Quinsam invested $300,000 in this company.
ALQ Gold Corporation, in which Quinsam invested $405,000, has completed a filing statement for a public listing
which is expected later this year.
In addition to the potential liquidity events listed above, there are other liquidity events which are possible
but for which no formal announcements have been made to date.
Q3 Results
Quinsam expects to report Q3 results in mid-November. While Quinsam is only beginning the process of compiling
its earnings report, Quinsam expects to deliver another quarter of solid earnings.
About Quinsam Capital Corporation
Quinsam is a merchant bank based in Canada that is focusing on cannabis-related investments. 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:
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: cannabis companies
Quinsam has invested in obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other
licenses, and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as
changes in applicable laws and regulations, including U.S. state-law legalization; market and general economic conditions of the
cannabis sector or otherwise, 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 at 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.
