QuestCap Announces Private Placement Financing of Up to $2 Million
21 Februar 2020 - 2:00AM
QuestCap Inc. (“
QuestCap” or the
“
Company”) (CSE: QSC) is pleased to announce that
it intends to complete a non-brokered private placement financing
of up to 20,000,000 common shares (each, a “Common Share”) at a
price of $0.10 per Common Share for gross proceeds of up to
$2,000,000 (the “Offering”).
All Common Shares issued in connection with the
Offering will be subject to a statutory hold period of four-months
and one day. Completion of the Offering is subject to a number of
conditions. The Company may pay a finder’s fee to one or more
brokers in connection with the Offering. The Company intends to use
the net proceeds of the Offering for pursuing investment
opportunities and general corporate purposes. The Offering is
expected to close on or about March 6, 2020.
Finder’s fees may be paid to eligible finders in
accordance with the policies of the CSE consisting of a cash
commission equal to up to 10% of the gross proceeds raised under
the Offering.
About QuestCap
QuestCap is an investment company that seeks to
enhance shareholder value over the long term by opportunistically
making various investments that may include, without limitation,
the acquisition of equity, debt or other securities of publicly
traded or private companies or other entities, financing in
exchange for pre-determined royalties or distributions and the
acquisition of all or part of one or more businesses, portfolios or
other assets.
For additional information, please contact:Aaron
Atin Corporate Secretaryaaron.atin@fmresources.ca
1-416-861-5888
Cautionary Note Regarding
Forward-looking Information
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the Offering, and in
particular the expected use of proceeds of the Offering. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company, as the case
may be, to be materially different from those expressed or implied
by such forward-looking information. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will
not be registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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