TORONTO, July 03, 2018 (GLOBE NEWSWIRE) -- Anil Damani announces that pursuant to a disposition of common shares (“Common Shares”) of Quantum International Income Corp. (the “Corporation”) through a private placement secondary offering (the “Offering”), he has reduced his holdings in the Corporation by an aggregate of 6,470,000 Common Shares.
Under the terms of the Offering, Mr. Damani sold the Common Shares at a purchase price of $1.00 per Common Share for aggregate gross proceeds of $6,470,000. The Common Shares were sold pursuant to section 2.3 of National Instrument 45-106 – Prospectus Exemptions and are subject to a hold period expiring four months and one day from the date hereof.
Immediately prior to the closing of the Offering which triggered the requirement to issue this release, Mr. Damani exercised control or direction over an aggregate 14,628,348 Common Shares, representing approximately 20.8% of the Corporation’s issued and outstanding Common Shares. Immediately after the Offering, that triggered the requirement to issue this release, Mr. Damani exercises control or direction over, an aggregate 8,158,348 Common Shares, representing approximately 11.6% of the Corporation’s issued and outstanding Common Shares.
The Offering was completed by Mr. Damani for investment purposes. Mr. Damani may increase or reduce his investment in the Corporation according to market conditions or other relevant factors.
This news release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the “Early Warning Report”). A copy of the Early Warning Report is available on SEDAR under the Corporation’s issuer profile at www.sedar.com or by contacting Mr. Damani’s counsel at 416-777-6245. For further information please contact:
James Clare
Bennett Jones LLP
3400 One First Canadian Place
P.O. Box 130
Toronto, Ontario
M5X 1A4
416-777-6245
The Corporation’s head office is located at:
79 Wellington Street West
Suite 1630, P.O. Box 138
Toronto, Ontario M5K 1H1