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TORONTO, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Quinsam Capital Corporation (“Quinsam”) (CSE:QCA) is pleased to announce that it has completed or agreed to complete a number of investments following its recent equity financings. Also, Quinsam wishes to update investors on the strong performance by a number of the companies in its portfolio.
New Investments
In recent weeks, Quinsam has been actively deploying funds raised from our recent financings. We anticipate announcing a number of additional new investments as funds are deployed.
PlantExt Ltd.
We purchased US$250,000 of common shares in PlantExt Ltd. PlantExt is an Israel-based company focused on the use of cannabis for the treatment of inflammation related diseases. We are hopeful that the company will seek a Canadian listing in 2018.
Xanthic Biopharma Limited
We purchased $300,000 of common shares in Xanthic Biopharma Limited. Xanthic has developed cannabis-related delivery technologies. The most exciting one for us is a technology to create good tasting powdered beverages. We are hopeful that the company will seek a Canadian listing in 2018.
Aura Health Corp.
We purchased $300,000 of convertible debentures issued by Aura Health Corp. Aura Health is an operator of cannabis clinics in Nevada, Arizona and Florida. They plan to open clinics in Germany in 2018. We are hopeful that the company will seek a Canadian listing in 2018.
Seed Capital
We purchased two tranches totalling $200,000 of common shares and warrants in Seed Capital Corp. Seed Capital Corp. in a cannabis investment vehicle run by Robert Josephson, who was an early leader in the Canadian cannabis space.
Segra International Corp.
We were able to secure a small $100,000 common share investment in Segra International Corp. We would have bought more but this was all that was available to us. Segra is a specialist in cannabis plantlet production and developing a cannabis tissue production facility in California. The company is an applicant to become a licensed produce user in Canada as well.
Doja Cannabis Company Limited
We purchased $300,000 in units of Doja convertible debentures and warrants as part of its recent financing. The common shares recently traded at $2.50. Our debentures convert at $1.24 and our warrants strike at $1.86.
Rocky Mountain Marijuana Inc.
We purchased $250,000 of common shares in the capital of Rocky Mountain Marijuana Inc. Rocky Mountain is an ACMPR applicant. We are hopeful that the company will seek a Canadian listing in 2018.
Georgian Bay Biomed Ltd.
We purchased $300,000 of common shares and warrants in the capital of Georgian Bay Biomed Ltd. Georgian Bay is an ACMPR applicant with a very attractive contraction financing package. We are hopeful that the company will seek a Canadian listing in 2018.
We also topped up our investment in Osoyoos Cannabis to a total investment of $500,000.
Recent Investment Performance
“We are preparing our Q4/2017 results,” said Roger Dent, CEO. “While we still have some work required to finalize the results, we expect that Q4/2017 will be the strongest quarter in Quinsam’s history by a significant margin.”
We have seen a number of exceptional performances including those by Canada House Wellness, Doja, Indiva, HarvestOne, Platinex, Icon, Quadron and Osoyoos. Some of these investments, which in some cases include warrants, have returned well in excess of 100% in a short time frame. Also, our legacy holdings in In-Touch, Posera, Biorem and VitalHub were also important contributors.
While we continue to like Quadron, we decided to take gains and sell our holding due to its strong performance.
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
roger@quinsamcapital.com
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: market and general economic conditions, 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 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.