DALLAS, TX, Oct. 24, 2016 /CNW/ - TCQ Financial LLC ("TCQ") announced today the filing of an Early Warning Report under Part 5 of Multilateral Instrument 62-104 – Take-over Bids and Issuer Bids reporting on the control and direction it acquired over equity securities of Quantum International Income Corp. (TSXV: QIC) (the "Corporation").
Contemporaneously with a loan financing (the "Financing") to the Corporation for the acquisition (the "LBI Acquisition") of a 51% interest in the business of Lucky Bucks Inc. ("LBI"), which closed on October 21, 2016, TCQ purchased 21,942,522 common shares of the Corporation (the "Shares"), which represents approximately 14.45% of all of the issued and outstanding common shares of the Corporation, after giving effect to such purchase and the issuance of common shares of the Corporation as additional consideration for its interest in the business of LBI (collectively the "Outstanding Common Shares"). Additionally, in connection with the Financing, TCQ acquired a warrant that is exercisable for 1,500,000 common shares of the Corporation (the "Warrant"), which represents approximately 0.98% of the Outstanding Common Shares. Before the Financing TCQ did not hold any common shares or warrants of the Corporation.
The Shares and the Warrant were acquired through a private placement. TCQ paid an aggregate of CAD$1,966,050 for the Shares or CAD$.0896 per Share and the Warrant was issued as part of the Financing. The Shares and the Warrant were acquired by TCQ for investment purposes and not for the purpose of exercising control or direction over the Corporation. Both the Shares and the Warrant were issued under the "accredited investor" prospectus exemption provided in Section 2.3 of National Instrument 45-106 – Prospectus Exemptions.
The Corporation reports its address as 79 Wellington Street West, Suite 1630, Toronto, Ontario, M5K 1H1.
About TCQ Financial LLC
TCQ Financial LLC is organized in Delaware, USA, and managed by Trive Capital Management LLC. Trive Capital is a private equity firm that is focused on acquiring, and making equity and debt investments in, strategically viable middle-market companies that exhibit transformational upside potential. Trive Capital forms collaborative, long-term partnerships with exceptional management teams to identify and implement strategic initiatives that ultimately will lead to operational improvements and value creation. TCQ Financial and Trive Capital have the address set forth below.
SOURCE TCQ Financial LLC
For further information: TCQ Financial LLC, c/o Trive Capital Management LLC, 200 Crescent Court, Suite 1040, Dallas, TX 75201, United States of America, Attn: Conner Searcy, Telephone: (214) 499-9722