Quantum eMotion Closes Brokered LIFE Financing of C$10,000,000

Core Points - Quantum eMotion Corp. has successfully closed a private placement raising total gross proceeds of C$10,000,000 by issuing 13,333,333 units at a price of C$0.75 per unit [1][2] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of an additional share at C1.10 for three years [2] - The net proceeds will be used to accelerate research and development efforts, expand the R&D team, hire staff for commercialization initiatives, and for general working capital needs [3] Financial Details - The Agent received a cash fee of 6.5% of the gross proceeds and was issued non-transferable warrants representing 5.0% of the total units issued, with each warrant allowing the purchase of a common share at C0.88 for 30 months [5] - The securities issued are expected to be immediately freely tradeable and not subject to a hold period under Canadian securities laws [4] Company Overview - Quantum eMotion Corp. focuses on providing affordable hardware and software security for connected devices, leveraging its patented Quantum Random Number Generator for enhanced cybersecurity solutions [7] - The company targets sectors such as Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security, Government Networks, and Quantum Cryptography [8]