NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION BY ANY UNITED STATES NEWS DISTRIBUTION SERVICE
TORONTO, Oct. 10, 2018 — Quinsam Capital Corporation (CSE:QCA) (“Quinsam” or the “Company”) is pleased to update its investors on recent news relating to liquidity events by its investee companies.
Quinsam congratulates RMMI Corp. (“RMMI”) for their recent listing on the Canadian Securities Exchange (“CSE”) under the symbol RMMI. “The CSE listing for RMMI represents the culmination of considerable effort by the management and board of RMMI as it has advanced its Alberta facility. Quinsam initially invested in RMMI at $1 per share and is a significant investor in the company,” said Roger Dent, CEO of Quinsam.
Quinsam would also like to congratulate Biome Grow Inc. (CSE: BIO) on its start of trading yesterday. Quinsam invested $300,000 in this company at an effective price of $0.60 per share and carried the investment at $0.80 per share at the end of Q2/2018. The shares closed yesterday at $1.95. This company is developing cultivation facilities in Nova Scotia, Newfoundland and Ontario.
Quinsam would also like to congratulate Next Green Wave Holdings Inc. which has announced that it will begin trading on the CSE today. Quinsam invested $525,000 in this company at $0.35 per unit (1 share + 1/2 warrant at $0.60). This company is developing cultivation facilities in California.
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Acreage Holdings: Quinsam invested $992,000 in Acreage at a pre-money value of approximately US$500 million. Acreage is one of the largest US cannabis companies and has now commenced marketing of a $200 million going-public financing on the CSE. While pricing of the financing is still some weeks away, the initial marketing range is approximately 3x our cost. “In our opinion, this financing should be well received by the market,” said Roger Dent.
Quinsam continues to look forward to numerous other Q4 liquidity events.
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 [email protected]
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.