QuestCap Inc.
(“QuestCap” or the “Company”)
(CSE: QSC; OTCMKTS: COPRF; FRA: 34C1) is pleased to announce its
new investment strategy for the Company and the appointment of a
new CEO to drive the strategy forward. The Company has outlined
three new strategic directions for its investment strategy:
MedQuest, ClimateQuest, and TechQuest. These divisions will focus
on investments in public health, mitigating climate change and
innovative technologies, respectively. Together they aim to improve
the world and humankind through highly targeted social-impact
investing.
QuestCap Appoints Neil Said as Chief
Executive Officer
Neil Said is a businessman and corporate
securities lawyer who has worked as an officer and legal consultant
to numerous Canadian listed companies in the technology, cannabis,
mining, oil & gas and healthcare industries. Mr. Said began his
career as a securities lawyer at Osler, Hoskin & Harcourt LLP,
where he worked on a variety of corporate and commercial
transactions. Neil is also currently the head of legal for the
Forbes & Manhattan group of companies. Mr. Said obtained a
Juris Doctor from the Faculty of Law at the University of Toronto
and he received a Bachelor of Business Administration (Honours)
with a minor in Economics from Wilfrid Laurier University.
The appointment of Mr. Said follows the
resignation of Mr. Stan Bharti as Chief Executive Officer of
QuestCap. Mr. Bharti will continue as a director and, along with
Scott Moore, will act as Co-Chairman of the Company.
New Investment Strategy
MedQuestThe Covid-19 pandemic
is threatening societies across the world. This virus has created
serious challenges but also new opportunities to bring life-saving
technology and therapies to market. MedQuest is pursuing numerous
investments in health sciences to help advance and develop products
used to detect, treat, and overcome COVID-19. MedQuest is looking
to invest in opportunities that will: improve testing around the
world, source effective therapies, and develop a lasting cure.
ClimateQuestAnthropogenic
climate change is threatening to drastically alter the environments
we inhabit and the way we live. In order to prevent further
degradation of our planet, it is imperative that mankind adopt new
technologies and systems that limit, eliminate, or removed
greenhouse gas emissions. The crisis is understood and numerous
organizations and entrepreneurs have produced powerful innovations
but lack the resources to commercialize them. Enter ClimateQuest.
Our experienced team will source, review and identify meaningful
investment opportunities in sustainable initiatives that have the
potential to produce tangible environmental impacts.
TechQuestDisruptive innovation
changed transportation from horseback to cars, communication from
landlines to cellphones, and entertainment from cable to streaming
video. TechQuest aims to continue human evolution by sourcing and
financing groundbreaking technology, procedures, and platforms. We
will work with innovators and developers to fund their passions and
help turn them into reality. Partnering with visionaries at the
seed-stage has the potential to create exceptional value for
TechQuest investors.
Eco Capital Acquisition
Finally, further to the Company’s press release
dated March 23, 2020, QuestCap announces the signing of the
definitive agreement with respect to, and the completion of, the
acquisition (the “Acquisition”) of all of the issued and
outstanding common shares in the capital of Eco Capital Growth
Corp., a British Colombia company (“Eco Capital”). In consideration
for the Acquisition, QuestCap issued 8,000,000 common shares of the
Company at a deemed price of $0.07 per share in exchange for all of
the common shares in the capital of Eco Capital, resulting in the
shareholders of Eco Capital owning 12.6% of the Company on an
undiluted basis.
Engagement of Native Ads and Hybrid
Financial
Additionally, the Company has entered into a
12-month programmatic digital advertising campaign with Native
Ads for a total cost of US$700,000, comprised of $525,000 for
digital advertising, paid distribution, and media buying over the
campaign period and, $175,000 for content creation, consulting,
managed services and management fees over the course of the
campaign period. Native Ads is a full-service ad agency, that owns
and operates a proprietary ad exchange with over 80 integrated SSPs
(supply-side platforms) resulting in access to 3-7 billion daily
North American ad impressions. Neither Native Ads nor any of its
directors and officers own any securities of the Company.
Hybrid Financial has been engaged by QuestCap
for a period of six-months starting April 1, 2020 which term may be
renewed for successive three-month periods thereafter upon the
mutual agreement of QuestCap and Hybrid. Hybrid will be paid a
monthly fee of $66,666.67, plus applicable taxes, during the
initial six-month term. Hybrid is a sales and distribution company
that actively connects issuers to the investment community across
North America. Using a data driven approach, Hybrid provides its
clients with comprehensive coverage of both American and Canadian
markets. Hybrid Financial has offices in Toronto and Montreal.
About Eco Capital
Eco Capital is a uniquely positioned early stage
investor, developer and incubator of sustainably focused high
growth opportunities with a focus on financial return, lasting
positive environmental impact and benefiting society.
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:
Scott Moore Co-Chairman smoore@forbesmanhattan.com
1-416-861-5903
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 launch of the three new
strategic divisions; disclosure related to Eco Capital; the
engagement of Native Ads and Hybrid Financial; and potential
investments to be made by the Company. 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.
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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