Continues Consolidation in Georgia Gaming Market with Recent Acquisitions of Twenty (20)
Additional Gaming Contracts From Feeling Lucky Amusement, LLC and Goldstar Amusement LLC (Toronto: November 21, 2018) Quantum International Income Corp. (the "Corporation" or "Quantum") (TSXV: QIC) is pleased to announce that its 60% owned subsidiary, Lucky Bucks, LLC ("Lucky Bucks"), has acquired eleven (11) additional gaming contracts from Feeling Lucky Amusement, LLC, a digital skill-based gaming terminal operator based in the U.S. State of Georgia, in exchange for cash consideration of US$4,938,434 (the "Acquisition"). The purchase price for the Acquisition was funded by Lucky Bucks through an advance under the senior secured credit facility described in the press release of the Corporation dated November 15, 2018 and entitled "Quantum Announces Increase in Credit Facility to US$100 million; Other Corporate Updates". The gaming terminals that have been acquired are fully licensed and governed by the Georgia State Lottery, and offer players a variety of skill-based coin-operated amusement machines.
With the completion of the Acquisition, the Corporation has acquired an aggregate of twenty (20) additional contracts in November 2018: eleven (11) from Feeling Lucky Amusement, LLC, and nine (9) from Goldstar Amusement LLC (as described in the press release of the Corporation dated November 8, 2018 and entitled "Quantum International Income Corp. to Acquire Assets from Goldstar Amusements LLC to Continue its Consolidation of the Georgia Gaming Market").
Manu K. Sekhri, Chief Executive Officer of Quantum, added the following remarks: "We are delighted to add these twenty (20) high-quality locations to our growing footprint in the Georgia gaming market. Having successfully completed the acquisitions of Feeling Lucky Amusement and Goldstar Amusement this month to date, we are continuing to explore opportunities to consolidate additional assets in the Georgia gaming market."
The Acquisition was completed pursuant to a purchase agreement dated November 21, 2018 among Lucky Bucks, Feeling Lucky Amusement, LLC, Faruq Patel, Naveed Masood and Nadiya Alibhai, which will be available on SEDAR (www.sedar.com) under Quantum's issuer profile.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.