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Touchstone Gold Invests In Cambridge Quantum Computing

Tue, 23rd Jun 2015 08:29

LONDON (Alliance News) - Touchstone Gold Ltd on Tuesday said it has made a GBP200,000 investment in Cambridge Quantum Computing Ltd.

Touchstone, an AIM-listed investing company, said it has invested GBP200,000 in new convertible preferred shares in CQCL. The convertible preferred shares are convertible into new ordinary shares of CQCL at a price per share that will be 20% below the price per ordinary share paid by CQCL's expected institutional and other investors in a financing that is currently anticipated to occur in 2015, Touchstone said.

In addition, GOS Systems, a security software company in which Touchstone has invested, will be granted reseller rights for CQCL's Quantum Key Encryption products.

Touchstone shares were up 7.8% to 0.5495 pence on Tuesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance