NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Aug. 20, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap”) (CSE:QSC; FRA:34C1) is pleased to announce that it has increased the size of its previously announced private placement financing from $2.5 million to up to $4.5 million. The Company will now issue up to 22,500,000 units of the Company at a purchase price of $0.20 per unit. Each unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.25 for a period of 24 months following the closing date.
The Company previously announced that it has closed the first tranche of the private placement by issuing 7,755,500 units at a price of $0.20 per unit for aggregate gross proceeds of $1,551,100.
About QuestCap Inc.
QuestCap Inc. (CSE:QSC; FRA:34C1) is a social-impact investment company. It seeks, secures and funds recognized sciences, technologies, and solutions that impact our global community today.
The QuestCap executive team is complemented by a panel of global advisors that provide expertise across industries and geographies. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopedic treatment, foot and ankle care, and sports medicine.
QuestCap provides financing for a diverse range of entities in exchange for pre-determined royalties or distributions, or acquires all or part of one or more businesses, portfolios or other assets.
For additional information, please contact:
Doug Sommerville, CEO
Doug.Sommerville@Questcapinc.com
416-301-5418
For US media inquiries please contact:
Veronica Welch
veronica@vewprmedia.com
+1-508-643-8000
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 upsizing of the private placement financing; the pursuit by QuestCap of investment opportunities; and the merits or potential returns of any such investments. 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.