Quantum Blockchain Technologies reports raising £1M through placing of shares
Quantum Blockchain Technologies Plc (LON:QBT) announces 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 at a price of 1.4 pence per Placing Share.
The net proceeds of the lacing are set to 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.
Francesco Gardin, Executive Chairman and CEO of QBT, commented:
“We are pleased to have performed this placing, which secures the funds to continue implementing the development of the Company’s cutting edge proprietary technologies ”
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.