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Quinsam Updates Shareholders on Dosecann Investment
May. 18, 2018 09:19AM PST
Cannabis Investing NewsQuinsam Capital Corporation announced the completed sale of the company’s position in Dosecann to Cannabis Wheaton Income.
Quinsam Capital Corporation (CSE:QCA) announced the completed sale of the company’s position in Dosecann to Cannabis Wheaton Income (TSXV:CBW).
As quoted in the press release:
Roger Dent, CEO of Quinsam said “We are very pleased with the result of our investment in Dosecann and we look forward to its contribution to our Q2/2018 results.”
Quinsam invested $875,000 in Dosecann in early 2018. The investment consisted of a combination of $875,000 of convertible debentures and 437,500 warrants.
In exchange for its investment in Dosecann, Quinsam received 1,092,000 shares of Cannabis Wheaton plus 546,000 warrants in Cannabis Wheaton with an exercise price of $0.962. In addition, Quinsam will receive additional Cannabis Wheaton shares in lieu of the interest owing on the debenture. In aggregate, the value of the securities obtained by Quinsam is well in excess of $2 million at the present time.
Click here to read the full press release.
Source: globenewswire.com
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