Manu K. Sekhri

July 13, 2017 21:00 ET

Manu K. Sekhri Discloses Holdings in Quantum International Income Corp.

TORONTO, ONTARIO--(Marketwired - July 13, 2017) - Manu K. Sekhri (the "Acquiror") announces that, pursuant to a grant of options by Quantum International Income Corp. (the "Company") on July 13, 2017 pursuant to the Company's stock option plan (the "Transaction"), Ascendant Group Holdings Inc., a company indirectly controlled by the Acquiror ("Ascendant"), acquired beneficial ownership of options ("Options") to purchase 3,380,501 common shares of the Company ("Common Shares") at an exercise price of $0.3525 per Common Share until July 12, 2022.

Immediately prior to the Transaction, the Acquiror beneficially owned 8,188,263 Common Shares and warrants to purchase 1,588,235 Common Shares ("Warrants"). Upon the Transaction, the Acquiror, beneficially owns 8,188,263 Common Shares, 3,380,501 Options, and 1,588,235 Warrants, representing beneficial ownership of, or the right to acquire beneficial ownership of, a total of 13,156,999 Common Shares (assuming the full exercise of all the Options and Warrants beneficially owned by the Acquiror), or approximately 18.13% of the issued and outstanding Common Shares (on a partially diluted basis after giving effect to the full exercise of all Options and Warrants beneficially owned by the Acquiror).

The Company granted the Options to Ascendant in consideration of the services provided by the Acquiror to the Company. The Acquiror may increase or reduce his investment in the Company according to market conditions or other relevant factors, but has no present intention to reduce his holdings. Neither the Acquiror nor any persons acting jointly or concert with the Acquiror currently has any plans or intentions that relate to the acquisition or disposition of securities of the Company.

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 Company's issuer profile at www.sedar.com or by contacting Manu K. Sekhri at 416-477-3414.

Contact Information

  • Manu K. Sekhri
    79 Wellington Street West
    Suite 1630, P.O. Box 138
    Toronto, Ontario M5K 1H1

    Company's head office is located at:
    79 Wellington Street West
    Suite 1630, P.O. Box 138
    Toronto, Ontario M5K 1H1