(Toronto: November 15, 2018) Quantum International Income Corp. (the "Corporation" or "Quantum") (TSXV: QIC) is pleased to announce that Lucky Bucks, LLC ("Lucky Bucks"), Quantum's 60% owned portfolio company, and Lucky Bucks Holdco, LLC, Lucky Bucks' direct parent and holding company, have entered into an amendment (the "First Amendment to Credit and Guaranty Agreement") to their US$75 million multi-draw credit facility (the "Credit and Guaranty Agreement") with Goldman Sachs Specialty Lending Group, L.P. ("GSSLG") dated as of April 9, 2018.
The First Amendment to Credit and Guaranty Agreement, effective as of November 14, 2018, among other things, increases the size of the credit facilities which are available to Lucky Bucks under the Credit and Guaranty Agreement, as the borrower thereunder, to an aggregate principal amount (together with amounts already drawn) of US$100 million and adds AB Private Credit Investors as an additional lender thereunder. Lucky Bucks expects to use the proceeds of the Credit and Guaranty Agreement (as amended and increased by the First Amendment to Credit and Guaranty Agreement) to finance Lucky Bucks' growth through strategic acquisitions. "The expansion of the credit facility reflects our continued access to capital to execute our consolidation strategy" said Manu K. Sekhri, Chief Executive Officer of Quantum and added "We feel our leverage continues to be very low in comparison to our peers."
Stock Option Grant
The Corporation also announces that it has granted an aggregate of 1,462,589 stock options to certain officers, directors, consultants and employees of Quantum, pursuant to the stock option plan of the Corporation. Each stock option entitles the holder thereof to purchase one common share of the Corporation at a price of $1.00 until November 15, 2023.
About Quantum International Income Corp.
Quantum International Income Corp. is a gaming company. Quantum's vision is to build a diversified portfolio of world class gaming operations. The Corporation looks to enhance shareholder value by growing organically and through acquisitions. The Corporation has an active acquisition strategy with a particular focus on cash-flows and high margins. Currently, the Corporation is the largest operator of skill-based gaming machines in the State of Georgia.
More information on Quantum is available at www.quantumincomecorp.com.
|For further information please contact Quantum:
Vice President, Corporate Affairs
Tel. (416) 569-3292
Tel. (416) 477-3411
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Cautionary Statement Regarding Forward-Looking Information
This release contains certain information which, as presented, constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information involves statements that relate to future events and often addresses expected future business and financial performance, containing words such as “expect” and “intend”, statements that an action or event “may” or “will” be taken or occur, or other similar expressions. These statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Corporation to control or predict, and which may cause Quantum’s actual results, performance or achievements to be materially different from those expressed or implied thereby, including, but not limited to, risks related to the inability by Quantum to complete the Acquisition, as well as other factors discussed in the Corporation’s annual information form dated July 23, 2015, (the “Annual Information Form”) which is available on SEDAR under Quantum’s profile at www.sedar.com. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, in the Annual Information Form, and as otherwise disclosed from time to time on SEDAR under Quantum’s profile at www.sedar.com.
Unless otherwise specified in this release, information contained in this release is current as of the date of this release. Unless otherwise specified, all dollar amounts herein refer to Canadian dollars. The Corporation undertakes no obligation to update forward-looking statements except as may be required by applicable Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.