IQ-AI Regulatory News (IQAI)

IQ-AI Limited

("IQ-AI" or the "Company")

Placing and Broker Option

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IQAI Limited (the "Company" or "IQAI"), the parent company of Wisconsin-based Imaging Biometrics, LLC ("IB"), which is focused on delivering quantitative imaging platforms and therapeutics that transform how clinicians diagnose and treat patients more efficiently and effectively, is pleased to announce a placing (the "Placing") via its broker Peterhouse Capital Limited ("Peterhouse"), to raise £300,000 (gross) through the issue of 20,000,000 new ordinary shares of £0.01 each ("Ordinary Shares") at 1.5p per share (the "Issue Price"). The Placing has not been underwritten.

The net proceeds will be used further the development of oral gallium maltolate, the oral anti-tumour agent currently under study in the phase 1 trial, via an intermediate-sized expanded access program and other commercialization initiatives necessary to fully leverage the Fast Track Designation granted by the US FDA.

In addition, there is a Broker option (the "Broker Option") for up to 6,666,666 new Ordinary Shares which will raise up to a further £100,000 enabling existing shareholders to participate in the Placing via Peterhouse.

Existing Shareholders who hold shares in the Company and are on the register of members as at the close of business on 21 February 2024, will be given a priority right to participate in the Broker Option and all orders from such Existing Shareholders will be accepted and processed by Peterhouse, subject to scale-back in the event of over-subscription under the Broker Option. The Company and Peterhouse at their discretion may decide to increase the amount of the Broker Option to meet demand. The Broker Option has not been underwritten. Peterhouse is entitled to participate in the Broker Option as principal.

The Broker Option is exercisable by Peterhouse on more than one occasion, at any time from the time of this announcement to 4.30 p.m. UK time on 23 February 2024, at its absolute discretion, following consultation with the Company. There is no obligation on Peterhouse to exercise the Broker Option or to seek to procure subscribers for the Broker Option. Peterhouse may also, subject to prior consent of the Company, allocate new shares after the time of any initial allocation to any person submitting a bid after that time.

The Broker Option Shares are not being made available to the public and none of the Broker Option Shares are being offered or sold in any jurisdiction where it would be unlawful to do so. No Prospectus will be issued in connection with the Broker Option.

Admission of the Placing Shares and the new Ordinary Shares issued pursuant to the Broker Option is expected to occur on or around 1 March 2024.

The Directors of the Company accept responsibility for the contents of this announcement.

**ENDS**

 For further information please contact:

IQ-AI Limited

Trevor Brown/Brett Skelly/Vinod Kaushal

Tel: 020 7469 0930

Peterhouse Capital Limited (Financial Adviser and Broker)

Lucy Williams/Heena Karani

Tel: 020 7220 9797