18:54:00 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Quantum International Income Corp
Symbol QIC
Shares Issued 28,942,733
Close 2014-06-27 C$ 0.33
Market Cap C$ 9,551,102
Recent Sedar Documents

Quantum receives holder, TSX-V OK for acquisitions

2014-09-02 17:25 ET - News Release

Mr. Grant White reports

QUANTUM INTERNATIONAL INCOME CORP. COMPLETES ACQUISITIONS AFTER RECEIVING SHAREHOLDER APPROVAL AND TSX VENTURE EXCHANGE CONDITIONAL APPROVAL

Quantum International Income Corp. has completed the establishment of its partnership with DGAT Partners LLC, the controlling entity of NYC Surgical Associates, through the establishment of Centers for Special Surgery LLC, a Delaware limited liability company jointly controlled by the company and DGAT. CSS has, through its operating subsidiary Center for Special Surgery of Essex County LLC, acquired certain assets comprising the Roseland Ambulatory Surgery Center, one of the largest ambulatory surgery centres in New Jersey. Separately, the company has also completed its acquisition of a controlling stake in Multiple Media Entertainment Inc., a full-service media content and distribution company headquartered in Toronto, Ont.

The establishment of CSS, acquisition of the RASC and acquisition of MME, which were previously announced in the company's news releases of June 27, 2014, and Aug. 8, 2014, will together constitute a change of business (within the meaning of the policies of the TSX Venture Exchange) and, subject to the receipt of final approval of the exchange, will see the company reactivated and graduate from a listing on the NEX board of the exchange to a listing on the exchange as a Tier 2 issuer. Full details of the transactions may be found in the company's filing statement, available on SEDAR.

The company completed the transactions after receiving: (i) the conditional approval of the exchange on Aug. 27, 2014, and, (ii) the approval of a majority of the shareholders of the company, which was obtained by way of written consent.

In connection with the completion of the transactions, an aggregate of 18,440,128 subscription receipts of the company, which were issued pursuant to concurrent brokered and non-brokered private placements completed in a series of tranches between Aug. 11, 2014, and Aug. 15, 2014, were converted, for no additional consideration, into an aggregate of 18,440,128 common shares of the company. The concurrent financing was announced on June 27, 2014, and further described in the company's news releases of Aug. 11, 2014, and Aug. 15, 2014. Full details on the concurrent financing may be found in the company's filing statement, available on SEDAR. All common shares issued pursuant to the concurrent financing will be subject to a hold period expiring on the date that is four months and one day from the date of the issuance of the overlying subscription receipt. Concurrently with the conversion of the company's subscription receipts to common shares, the company paid a cash commission to Global Securities Corp. equal to 6 per cent of the aggregate gross proceeds of the brokered component of the concurrent financing. The agent also received 897,450 options to purchase common shares of Quantum at an exercise price of 35 cents at any time prior to Aug. 28, 2016. Certain other cash commissions and compensation options were paid to finders in connection with the non-brokered portion of the concurrent financing in amounts no more favourable than the compensation received by the agent. The company expects such finders to receive an aggregate cash commission of $47,790.59 and 136,544 compensation options.

Completion of the transactions and the change of business remains subject to final exchange acceptance.

Trading in the company's shares on the exchange has been halted since the announcement of the transactions on June 27, 2014. Subject to receipt of final exchange acceptance, trading is expected to recommence in the week of Sept. 8, 2014.

We seek Safe Harbor.

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