Quantum International Income Corp. Announces Results for the Three and Six Months Ended August 31, 2014

TORONTO, ONTARIO--(Marketwired - Oct. 30, 2014) -

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Quantum International Income Corp. (TSX VENTURE:QIC.U)(TSX VENTURE:QIC), ("Quantum" or the "Company" or "QIIC"), today announces results for the three and six months ended August 31, 2014.

With effect from March 14, 2014, the name of the Company changed from "E.G. Capital Inc." to "Quantum International Income Corp".

Comparison of the three and six months ended August 31, 2014 and August 31, 2013

Revenue was $nil for the three month period ended August 31, 2014 as compared to $nil for the same period last year.

Administrative expenses were $1,377,355 for the three months ended August 31, 2014 as compared to $85,106 for the same period last year. The increase in administrative expenses compared to the prior year is primarily related to the reactivation transaction and acquisitions.

For the three months ended August 31, 2014, administrative expenses included $1,007,734 in professional and advisory expenses, $217,023 in management fees, $32,463 in regulatory related expenses, and $120,135 in general and other administrative expenses. For the three months ended August 31, 2013, the Company incurred $77,101 in professional and advisory expenses, $7,419 in regulatory related expenses and $586 general administrative expenses.

Administrative expenses were $1,683,741 for the six months ended August 31, 2014 as compared to $101,271 for the same period last year. The increase in administrative expenses compared to the prior year is primarily related to the reactivation transaction and acquisitions.

For the six months ended August 31, 2014, administrative expenses included $1,131,035 in professional and advisory expenses, $319,442 in management fees, $59,648 in regulatory related expenses, and $173,616 in general and other administrative expenses. For the six months ended August 31, 2013, the Company incurred $89,101 in professional and advisory expenses, $11,584 in regulatory related expenses and $586 in general administrative expenses.

As a result of the foregoing factors, the loss for the three and six months ended August 31, 2014 was $1,380,802 and $1,694,573, respectively. $57,419 of the net loss for the three and six months ended August 31, 2014 is attributable to the non-controlling interest in the subsidiary that acquired the Roseland Assets.