|By Marketwired .||
|January 8, 2014 01:17 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/08/14 -- Quinsam Capital Corporation (CNSX: QCA) ("Quinsam or the "Company") is pleased to update shareholders on its December activities.
Quinsam continues to selectively deploy funds into investments where Quinsam see's strong value and growth potential. The company has completed the purchase of positions in three additional companies: Grande West Transportation Group Inc. ("Grande West"), Bri-chem Corp. ("Bri-chem") and Enterprise Group, Inc. ("Enterprise").
Grande West was formed in 2008 to design and develop a 27.5 foot bus, known as the "Vicinity", in response to a Request for Information ("RFI") by BC Transit. The Vicinity bus is a Canadian designed, community shuttle bus transportation innovation that was conceived to meet the demand for a greener compact bus than was currently available in North America. The first Vicinity bus prototype was delivered in February 2010 as part of a beta-testing program. The Vicinity bus has now received certification by the Canada Motor Vehicle Safety Standard, Transport Canada, and the British Columbia Ministry of Transportation. Initial deliveries of 15 Vicinity buses occurred in August 2013 to BC Transit. Sales efforts across Canada have resulted in orders being received and production commenced for 10 Vicinity buses for Quebec and for 3 Vicinity buses for a Nova Scotia transit authority.
Bri-Chem has two primary segments of business: Bri-Chem's Drilling Fluid Division is North America's largest independent wholesale supplier of drilling fluids for the oil and gas industry. It provides over 100 critical drilling fluid products, cementing, acidizing and stimulation additives from 31 strategically located warehouses throughout Canada and the United States; Bri-Chem's Steel Pipe Division is the first company to introduce and construct a Thermal Pipe Expansion (TPE) facility in North America for manufacturing, testing and supply of large diameter seamless steel pipe for the energy industry.
Enterprise is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries. Enterprise's focus is primarily construction services and specialized equipment rental. The company's strategy is to acquire complementary service companies in Western Canada, consolidating capital, management and human resources to support continued growth. Enterprise became a Western Canadian leader in flameless heat technology in September 2012 with its acquisition of Artic Therm International Ltd. and became a technological leader in underground infrastructure construction by the closing of Calgary Tunnelling & Horizontal Augering Ltd. in June 2013. Quinsam acquired both shares and warrants as part of our investment in Enterprise.
About Quinsam Capital Corporation
Quinsam is a merchant bank based in Canada. Our merchant banking business encompasses a range of activities including acquisitions, 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 have a viable plan for unlocking such value. We do not invest on behalf of any third party, and do not offer investment advice.
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.