Quantum Numbers Corp. Announces Its Plan to Raise a Round of Capital Investment to Help Finance the Next Level of Development, a Planned CMOS Implementation and Help Position Its Initial Entry in the Healthcare Industry
Montreal, Canada - October 01, 2020 - (TSXV:QNC) Quantum Numbers Corp. (the "Corporation" or "QNC"), an innovative developer of cryptographic solutions based on Quantum Random Number Generator (QRNG) announces a plan to raise its next round of capital investment for a non-brokered placement.
"The next round of capital investment for QNC will be dedicated to further advance our technology and implement our proven patented design at the CMOS chip level. Also, during the past few months, our Board Directors further analyzed and identified the most prevalent industries where our distinct QRNG patented technology will be most needed and accepted with its high levels of security benefits. According to our latest research, we foresee a compelling industry fit with the Healthcare Industry and a strong potential increase in demand that can be met with our current intellectual property assets and future embedded solutions." Marc Rousseau, CEO.
The Corporation will be offering units at a price of $0.07 per unit (each, a "Unit") for gross proceeds of up to $750,000. Each Unit shall consist of one common share and one common share purchase warrant exercisable at a price of $0.15 for a period of 18 months from the date of grant. An acceleration clause is included. Should the Common Shares of the Corporation trade at a price per share of at least $0.20 for a period of not less than twenty consecutive business days, the Corporation may request that the holders of the Warrants exercise their Warrants into Common Shares of the Corporation within the twenty-business day-period following a notice to the Warrant's holders to that effect.
All of the securities to be issued under the private placement will be subject to a four-month resale restriction. In connection with this transaction, finder's fees may be issuable to qualified parties in accordance with the policies of the Canadian Securities Exchange.
The company will hold videoconferences according to the following schedule:
Ontario and Quebec on October 6, 2020 at 13.30PM EST.
Western Canada on October 7, 2020 at 11:AM PST.
Maritime provinces on October 8, 2020 at 9:00AM EST.
Upon request, videoconferences can also be arranged with private groups.
To request a Zoom bridge or for more information please contact:
Quantum Numbers Corp.
Pierre C. Miron
T (514) 894-4324
This news release contains certain "forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed timing and completion of the private placement and the proposed use of proceeds from the private placement. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility;
liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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