TORONTO, April 21, 2020 (GLOBE NEWSWIRE) — QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) is pleased to announce the appointment of Douglas Sommerville to the role of President of QuestCap’s MedQuest Investment Division. As a veteran leader in the North American medical, pharmaceutical and technology industries, Mr. Sommerville will bring a wealth of experience to QuestCap’s flagship division, and enhance QuestCap’s vision of bringing together industry experts to lead their mission of socially conscious investing.
“We’re thrilled that Doug has agreed to lead the MedQuest team,” said Stan Bharti, Co-chair of QuestCap. “QuestCap is currently focused on making strategic investments in third parties that are conducting research in innovative medical technology and therapies, and Doug is the visionary leader we need to source and evaluate premier projects.”
“As a social-impact investment focused company, QuestCap is investing in new research, effective therapies and innovative testing solutions – some that we hope will contribute to the fight against COVID-19,” commented Mr. Sommerville. “I’m honoured to join this revolutionary team.”
About Douglas Sommerville
Prior to joining QuestCap, Douglas held the role of Head of Country for Canada for Teva Canada, a subsidiary of Teva Pharmaceutical Industries Ltd. (“Teva”), the world’s leading provider of generic medicines. In this role, Mr. Sommerville was responsible for Teva’s third largest global subsidiary, with sales in excess of $1.3 billion. Douglas led all aspects of the company’s commercial, distribution, demand planning and customer operations – aligning and coordinating all company functions, production, supply chain, regulatory and global support functions. Douglas was also the Chairman of the Canadian Generic Pharmaceutical Association up until his retirement from Teva Canada in 2018.
Previous to his tenure at Teva Canada, Mr. Sommerville was Global Vice President, Infusion Systems with Baxter Healthcare International (“Baxter”), one of the world’s largest medical, pharmaceutical and technology companies. In his role, Douglas was responsible for the company’s infusion pumping devices and intravenous administration sets worldwide, as well as pain management and ambulatory infusion devices, working with Baxter’s product development, regional sales and marketing teams globally.
The company is not making an express or implied claims that its product has the ability to eliminate, cure or contain COVID-19 at this time.
About QuestCap Inc.
QuestCap is an investment company that seeks to enhance shareholder value over the long term by opportunistically making various investments that may include, without limitation, the acquisition of equity, debt or other securities of publicly traded or private companies or other entities, financing in exchange for pre-determined royalties or distributions and the acquisition of all or part of one or more businesses, portfolios or other assets.
For additional information, please contact:
G Scott Moore, Co-Chair
For Canadian media enquires please contact:
For US media enquires please contact:
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 Company’s strategic investments in third parties conducting research of innovative medical technology and therapies. 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.
Daimler to invest in Chinese EV battery maker Farasis' $480 million IPO: sources – TheChronicleHerald.ca
By Zhang Yan and Julie Zhu
BEIJING/HONG KONG (Reuters) – Daimler AG plans to invest in Farasis Energy’s planned $480 million IPO, aiming to ensure a stable supply of batteries from the Chinese firm as it ramps up electric vehicle production, three people familiar with the matter said.
The plan has yet to be finalised and is subject to change, the people said, speaking on condition of anonymity as the discussions were private. The size of the potential investment was not immediately clear, they added.
The two firms struck a deal last year for Farasis to supply Daimler with lithium-ion battery cells and Farasis is building a factory in Germany.
Daimler and Farasis declined to comment on the potential IPO investment.
Eleven-year old Farasis gained approval last week to raise about 3.44 billion yuan in an initial public offering on China’s Nasdaq-like STAR board. The float, which is slated for the current quarter, could value the company at up to 30 billion yuan ($4.2 billion), sources have previously said.
Like many other global automakers under pressure to meet tougher emission standards in Europe and China, the German maker of Mercedes-Benz vehicles plans to ramp up EV production. It currently procures batteries from China’s CATL 300750.SZ> for its China-made EQC electric car.
Automakers are keen to build deeper relationships with battery makers to manage supply, either by investing in the companies or signing long-term contracts.
Sources said in January that Volkswagen AG was looking at taking a 20% stake in Chinese battery maker Guoxuan High-tech Co Ltd 002074.SZ>.
Farasis, which is based in Ganzhou city in the eastern province of Jiangxi, will use the IPO proceeds for a lithium-ion battery project and to replenish its working capital, according to its preliminary prospectus.
The company, which has plants in Ganzhou and Zhenjiang, also counts China’s BAIC BluePark New Energy Technology Co Ltd 600733.SS> and Great Wall Motor Co Ltd 601633.SS> as major customers.
($1 = 7.1303 Chinese yuan)
(Reporting by Zhang Yan and Yilei Sun in Beijing and Julie Zhu in Hong Kong; Additional reporting by Edward Taylor in Frankfurt; Editing by Edwina Gibbs)
Billion dollar investment fund manager demands end to CERB – ThinkPol
A billion dollar investment fund manager is demanding an end to the $2,000 per month Canada Emergency Response Benefit claiming that income support to people who lost jobs due to COVID-19 pandemic is making it hard for him to hire workers.
“I’m hiring like crazy right now. Lots of great talent out there,” tweeted Canaccord Genuity Cash Management Group investment manager Andrew Johns. “Sadly, there is obviously a whole sub segment of the population that has no interest in working. Gov’t needs to end #CERB now!”
I’m hiring like crazy right now. Lots of great talent out there.
Sadly, there is obviously a whole sub segment of the population that has no interest in working.
Gov’t needs to end #CERB now!
— Andrew Johns (@AndrewNJohns) May 24, 2020
Even while calling for an end to support for unemployed workers, Johns, who founded the Bitcoin ATM network HoneyBadger Inc, is advising his investment firm’s corporate clients on how to maximize government benefits.
Thursday, May 21st
1pm PST; 2pm MST; 4pm ESThttps://t.co/xsksPzHHSG
— Andrew Johns (@AndrewNJohns) May 17, 2020
Reaction to Johns’s tweet has been swift.
“Are you willing to offer them more than they get on CERB?,” asked Tracy Assoun. “If not, why would they work for you? CERB is a bare minimum. $12.50/hr 40 hrs a week. Big deal. If you don’t pay more than that, I wouldn’t want to work for you either.”
“Classic ‘This is my reality so it must be the case for all of society!’.” said Nick Faye. “Just because your business is hiring doesn’t mean that the economy isn’t currently a fraction of what it was before with many industries (eg. tourism, performing arts, etc) still unable to safely open.”
“The CERB is literally less than minimum wage,” Jane Murdoch said. “If potential employees would rather be taking CERB than work for you, that’s a you problem. Your business practices need improving.”
Market weekly – Healthcare, an investment theme for the coming decade (podcast) – Investors' Corner BNP Paribas
Both US and global healthcare stocks have outperformed their respective broader markets during the coronavirus pandemic. This is just the start of a long-term trend, says Jon Stephenson, senior portfolio manager for US equities and specialist for healthcare innovators in our Boston office. In this week’s podcast Daniel Morris, senior market strategist, discusses with Jon why healthcare stands out as the sector that may become the investment theme for this decade.
This podcast is part of a series articulating our investment views and strategies during the COVID-19 crisis.
For more on the virus, the economic fallout, and the implications for financial markets and investors, read our series of weekly updates. If you need further information on our strategies or investment policies, please contact your dedicated client relationship manager.
Any views expressed here are those of the author as of the date of publication, are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may take different investment decisions for different clients.
The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay. Past performance is no guarantee for future returns.
Investing in emerging markets, or specialised or restricted sectors is likely to be subject to a higher-than-average volatility due to a high degree of concentration, greater uncertainty because less information is available, there is less liquidity or due to greater sensitivity to changes in market conditions (social, political and economic conditions).
Some emerging markets offer less security than the majority of international developed markets. For this reason, services for portfolio transactions, liquidation and conservation on behalf of funds invested in emerging markets may carry greater risk.
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