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QIC.v Quantum Int'l agreement for 51% of Lucky Bucks LLC



2016-10-21 16:20 ET - Property Agreement


The TSX Venture Exchange has accepted for filing documentation relating to an asset purchase agreement between arm's-length parties (the vendors) and an indirect wholly owned subsidiary of Quantum International Income Corp. Pursuant to the agreement, Southern Star Gaming LLC, an indirect wholly owned subsidiary of Quantum International, shall acquire a 51-per-cent interest in Lucky Bucks LLC, a digital terminal gaming business in Georgia, U.S.

In consideration, Quantum International shall pay an aggregate of $10.5-million (U.S.) and issue 43,885,045 common shares to the vendors.

Further, Quantum International shall issue an aggregate of 1,116,071 common shares to James Boyden as finders' fees in connection with the transaction.

For more information, please refer to Quantum International's news releases dated April 27, 2016, and Aug. 17, 2016.

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