Quinsam Opportunities I Inc. Announces Closing of Initial Public Offering

TORONTO, ON / ACCESSWIRE / June 30, 2015 / Quinsam Opportunities I Inc. (TSXV: QOP.P) (“Quinsam” or the “Company“), a capital pool company, is pleased to announce that it has closed its initial public offering of 5,000,000 common shares at $0.10 per common share for aggregate gross proceeds of $500,000. Fin-XO Securities Inc. (“Fin-XO“) acted as agent for the offering and received a cash commission of 10% of the gross proceeds of the offering and a corporate finance fee of $10,000 plus applicable taxes. In addition, the Company has granted Fin-XO an option to acquire up to 500,000 common shares of the Company at a per share price of $0.10 exercisable for a period of 24 months from the date the Company’s common shares are listed on the TSX Venture Exchange (the “TSXV“).

Upon closing of the offering, Quinsam also granted 900,000 incentive stock options to its directors which are exercisable within five (5) years from the date of grant at an exercise price of $0.10 per share. As a result of the closing of its initial public offering, Quinsam now has 9,000,000 common shares issued and outstanding (4,000,000 of which are subject to escrow restrictions in accordance with the policies of the TSXV).

The TSXV has conditionally approved the listing of the common shares of the Company. Subject to fulfilling final listing requirements, the Company expects that its common shares will commence trading on the TSXV on or about July 3, 2015 under the symbol “QOP.P”. The Company would like to thank Fin-XO for the role that it played in the distribution of the initial public offering of the Company.

About Quinsam Opportunities I Inc.

The only business of Quinsam is the identification and evaluation of assets or businesses with a view to completing a “Qualifying Transaction” in accordance with TSXV Policy 2.4 – Capital Pool Companies. The funds raised under the offering will be used to pursue such Qualifying Transaction.

For further information, please contact Eric Szustak, President, Chief Financial Officer and Secretary of the Company, at: Telephone: 905.330.7948 Facsimile: 647.259.1785

NEITHER THE 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.

Forward-looking Statements

This press release contains statements about Quinsam’s expectations regarding the completion of the application for listing and the commencement of trading on the TSXV that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as final listing approval from the TSXV. Although Quinsam believes that the expectations reflected in these forward-looking statements are reasonable as Quinsam assumes it will be able to fulfill the terms of the conditional listing approval granted by the TSXV, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to fulfill conditions of listing and inability to obtain required regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof, and Quinsam undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

SOURCE: Quinsam Opportunities I Inc. 

ReleaseID: 430273