Regulatory news from QBT- site1 Jun 2023 10:05
Reasons for placement:Quantum Blockchain Technologies Plc
(“Quantum Blockchain Technologies” or “the Company”)
Placing to Raise £1,000,000
The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to announce that it has raised £1,000,000 (before expenses) through the placing of 71,428,571 new ordinary shares of 0.25 pence each in the Company (“Placing Shares”) at a price of 1.4 pence per Placing Share (the “Placing”).
The net proceeds of the Placing will allow the Company to continue to progress its research and development programmes, particularly the further development of its proprietary bitcoin mining machine learning algorithms and software product release, North America business development activities, fund the progression of the Sipiem in Liquidazione S.r.l’s response to the defendants’ appeal and provide general working capital.
Admission & Total Voting Rights
Application will be made for the 71,428,571 Placing Shares to be admitted to trading on AIM with admission expected to occur on or around 6 June 2023. The Placing Shares will rank pari passu with the Company’s existing Ordinary Shares.
Following admission of the Placing Shares, the Company’s enlarged issued share capital will comprise 1,068,980,422 ordinary shares of 0.25 pence each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
1 June 2023