Placing to Raise £350,000
Quantum Blockchain Technologies raised £350,000 through placing of 140,000,000 shares at 0.25p each.
- Gross proceeds £350,000
- Placing price per share 0.25 pence
- Number of placing shares 140,000,000
- Total voting rights post-admission 1,748,083,941 ordinary shares
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Quantum Blockchain Technologies plc (AIM: QBT), the AIM-listed research & development and investing company focused principally on a research and development programme within blockchain technology, announces that it has raised £350,000 (before expenses) through the placing of 140,000,000 new ordinary shares of 0.25 pence each in the Company (the "Placing Shares") at a price of 0.25 pence per Placing Share (the "Placing").
The net proceeds of the Placing will be used for:
Continued research and development, testing and optimisation of the Company's proprietary Bitcoin mining technologies, including its Method C AI Oracle and related software products, together with testing and business development activities;
Bringing the newly granted US patent for its ASIC Ultra Boost
TM
to a market-ready condition, including the collation of data at fine measurements at a low nanometers scale; a pre-condition for any commercial negotiation with ASIC manufacturers;
Porting and integration work with mining hardware and software environments, including work relating to the AI Oracle;
Commercial and business development activities with prospective industry counterparties; and
General working capital purposes.
Admission and Total Voting Rights
Application will be made for the Placing Shares to be admitted to trading on AIM, with admission expected to occur at 8.00 a.m. on or around 8 September 2026 ("Admission"). The Placing Shares will rank
pari passu
in all respects with the Company's existing ordinary shares.
Following Admission, the Company's issued share capital will comprise 1,748,083,941 ordinary shares of 0.25 pence each. The Company does not hold any ordinary shares in treasury. Accordingly, the total number of voting rights in the Company following Admission will be 1,748,083,941.
This figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Francesco Gardin, CEO and Executive Chairman of QBT, commented:
"The Placing provides the Company with additional working capital to support the development and testing activities required to bring our proprietary Bitcoin mining technologies to market.
Our current focus is on progressing the work on the AI Oracle and our other software-based solutions, while further developing relationships with industry participants and potential future commercial partners in preparation for commercial deployment."
596/2014 on market abuse, which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended ("UK MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of UK MAR."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.