QIC.v Quantum Int'l to roll back one for three March 17
2017-03-17 01:46 ET - News Release
Mr. Hassan Ijaz reports
QUANTUM INTERNATIONAL INCOME CORP. ANNOUNCES SHARE CONSOLIDATION
Quantum International Income Corp. intends to proceed with a consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for every three preconsolidation common shares. The consolidation was previously approved by the shareholders of the corporation at the annual and special meeting of the shareholders held on May 18, 2016, and is subject to approval by the TSX Venture Exchange.
The directors of the corporation believe that the proposed consolidation better positions the corporation going forward from a trading and financial reporting perspective.
The corporation intends the effective date of the consolidation to be March 17, 2017, with the common shares trading on a postconsolidation basis beginning at the open of markets on March 20, 2017. As of the date of this press release, a total of 181,458,887 common shares are issued and outstanding. Assuming the implementation of the consolidation, a total of approximately 60,486,296 postconsolidation common shares would be issued and outstanding, subject to the treatment of fractional interests. Any fractional interest of 0.5 or more of a common share resulting from the consolidation will be rounded up to the nearest whole common share, and any fractional interest of less than 0.5 of a common share resulting from the consolidation will be rounded down to the nearest whole common share. There is no name change in conjunction with the consolidation, and the corporation's trading symbol on the TSX-V will remain the same.
About Quantum International Income Corp.
The corporation seeks opportunities to acquire and expand businesses to generate stable distributions for its shareholders, along with capital appreciation. The corporation seeks to acquire operating businesses with a proven 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.
We seek Safe Harbor.
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