SuperQ closes $3.45-million offering

Dr. Muhammad Khan reports SUPERQ QUANTUM CLOSES BROKERED LIFE FINANCING OF $3,450,000 INCLUDING FULL EXERCISE OF AGENT'S OPTION SuperQ Quantum Computing Inc. has closed its previously announced commercially reasonable effort offering, through Hampton Securities Ltd., pursuant to which the company issued a total of 3,285,713 units at a price of $1.05 per unit for aggregate gross proceeds of $3.45-million, including exercise in full of the overallotment option. Each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant entitles the holder thereof to acquire one additional share at a price of $1.40 per share for a period of 36 months from the closing of the offering. The offering was led by Hampton which received a cash commission equal to 7 per cent of the gross proceeds of the offering and was issued non-transferable broker warrants equal to 7 per cent of the number of units issued pursuant to the offering. Each broker warrant is exercisable to acquire one share at the issue price for a period of 36 months from the closing of the offering. The company intends to use the net proceeds from the offering to obtain resources for quantum hardware development, including human resources, lab facilities, software and equipment, to conduct research and product development, and for the general working capital needs of the company. The units were sold pursuant to Part 5A of National Instrument 45-106 (Prospectus Exemptions), as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption), and are not subject to a hold period pursuant to applicable Canadian securities laws. The broker warrants are subject to a hold period of four months and one day from the closing of the offering. About SuperQ Quantum Computing Inc. SuperQ is defining the next era of enterprise transformation, looking to emerge as a partner for global organizations seeking direct quantum and supercomputing return on investment previously beyond reach. It is looking to position itself as the trusted leader in quantum and supercomputing-powered problem solving and optimization. Its flagship Super platform strives to make the most advanced computational power intuitive and accessible. This will empower executives, leading research institutions and critical government agencies to unlock immediate business impact across finance, health care, logistics, defence and beyond, leveraging its proprietary artificial intelligence autopilots to turn complex challenges into executive-ready results with one-click productization and deployment. SuperQ Quantum is headquartered in Canada with a growing international presence, particularly in the United States, Middle East and Asia, strategically establishing Super hubs in key regions. We seek Safe Harbor.