Quinsam Releases Profitable Q1/2015 Results and Announces Four New Investments
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TORONTO, ONTARIO--(Marketwired - May 7, 2015) -
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Quinsam Capital Corporation (CSE:QCA) ("Quinsam" or the "Company") today announced results for the first quarter ending March 31, 2015. The Company also announced the completion of four new investments.
Q1/2015 Results
In the first quarter ending March 31, 2015, Quinsam earned $0.01 per share versus $0.01 in the preceding year. Net Investment Income/Revenue increased from $117,099 in Q1/2014 to $172,093 in Q1/2015.
Roger Dent, CEO of Quinsam, said, "We are very pleased to have registered $0.01 of EPS in our first quarter. While the TSX-V Index fell about 1% in the first quarter, our investments performed well."
Operating expenses remained at very modest levels, with total costs of approximately $16,000 excluding stock option related expenses.
Based on the results in Q1, the company recently declared its third quarterly dividend.
Full results are available on SEDAR.
New Investments
Quinsam has recently completed four new investments with an aggregate value of $650,000. "These investments were accessed through our considerable microcap deal flow that is unavailable to the vast majority of retail and institutional investors," said Roger Dent. "We are very pleased with these investments and we have already seen some good performance from them. We think that these names really highlight the sorts of things we are looking for when we invest."
We acquired a stake in DistinctTech Inc., a private Toronto-based infrastructure play. The company is well advanced in its going public process, having already announced an RTO with QE2 Acquisition Corp.
We acquired a stake in Inspira Financial Inc., the latest investment vehicle created by the team that was behind the highly-successful Patient Home Monitoring Corp. and Convalo Health International, Corp. Inspira is also expected to be public in the near term, having announced an RTO with Chrysalis Capital IX Corp.
Quinsam participated in the recent $0.25-per-share financing undertaken by Posera-HDX Inc. Posera is a leader in the provision of IT/payment processing solutions to the restaurant industry. The company has recently announced an acquisition that we think will significantly enhance its financial and competitive position.
Your company also invested in a new issue by Poydras Gaming Finance Corp. at $0.07 per share. The financing will fund the completion of two acquisitions that are expected to be highly accretive. Poydras announced recently that a senior gaming industry executive is joining its board of directors.
Recent Performance
Subsequent to quarter end, Quinsam enjoyed strong asset growth in the month of April. The overall small cap market, as measured by the TSX-V Index, was up 2% to 3% in April. In comparison, the assets of Quinsam grew by nearly 10% in April.
About Quinsam Capital Corporation
Quinsam is a merchant bank based in Canada. Our merchant banking business encompasses a range of activities including advisory services, lending activities and portfolio investments. Quinsam invests its capital for its own account in assets, companies or projects which we believe are undervalued and where we see a viable plan for unlocking such value. We do not invest on behalf of any third party and we do not offer investment advice.
Generally, Quinsam does not believe that individual investments are material reportable events. Quinsam chooses to announce certain investments once the company is certain that it has finished buying its position because the Company feels that this information helps investors in Quinsam understand its investment decision making process. Generally, Quinsam does not announce the sale of investments.
This press release may contain forward-looking statements relating to anticipated future events, results, circumstances, performance or expectations that are not historical facts but instead represent our beliefs regarding future events, which are inherently uncertain. Forward-looking statements can often, but not always, be identified by forward-looking words such as "anticipate", "believe", "continue", "expect", "goal", "plan", "intend", "estimate", "may", "project", "predict", "potential", "target", and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance.
By their nature, forward-looking statements require us to make assumptions which include, among other things, that (i) Quinsam will have sufficient capital under management to effect its business strategies, (ii) the business strategies will produce the results intended by Quinsam, and (iii) the markets will react and perform in a manner consistent with the business strategies.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes that the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: market and general economic conditions, interest rates, regulatory and statutory developments, the nature of the Company's investments, the available opportunities and competition for investments, the concentration of the Company's investments in certain industries and sectors, reliance on key personnel, risks affecting the Company's investments, management of the growth of the Company, and exchange rate fluctuations. Readers are cautioned that the foregoing list of risks and factors is not exhaustive. Although the Company has attempted to identify important factors that could cause actual events or results to differ materially from those described in forward-looking information, there may be other factors that cause events or results to differ from those intended, anticipated or estimated.
The forward-looking information contained herein is provided as at the date of the date of this press release, based upon the opinions and estimates of management and information available to management as at the date of this press release. The Company does not undertake and specifically disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable law. Readers are cautioned not to place undue reliance on forward-looking information contained in this press release.
