01 Quantum Announces Closing of $2.35 Million Financing

Core Viewpoint - 01 Quantum Inc. has successfully closed an equity financing round, raising approximately $2.35 million to strengthen its balance sheet and support its strategic initiatives in the quantum cybersecurity sector [1][3]. Financing Details - The financing involved the issuance of 4,892,499 units at an issue price of $0.48 per unit, resulting in gross proceeds of $2,348,399.52 [1]. - Each unit consists of one common share and one-half of a common share purchase warrant, with each full warrant exercisable at $0.75 for 36 months [2]. Use of Proceeds - The net proceeds from the offering will be utilized for product development initiatives, expanding sales and marketing teams, accelerating commercialization efforts, and general working capital needs [5]. Related Party Transaction - The company issued 200,000 units to a director, Tyson Macaulay, classifying the offering as a related party transaction. The company was exempt from obtaining a formal valuation and minority approval for this transaction [6]. Agent and Compensation - Hampton Securities Limited acted as the sole agent for the offering, receiving a cash fee of 7% of the gross proceeds and 342,475 compensation options, each allowing the purchase of one common share at the offering price for 36 months [4]. Company Overview - 01 Quantum Inc. specializes in post-quantum cybersecurity and remote access solutions, with its IronCAP™ product line being patent-protected in the U.S. [8].