SuperQ Quantum Closes Brokered LIFE Financing of $3,450,000 Including Full Exercise of Agent's Option

Executive Summary

• SuperQ Quantum Computing Inc. closed its commercially reasonable efforts offering, issuing 3,285,713 units at $1.05 per unit for total gross proceeds of $3.45 million.
• Each unit includes one common share and one warrant to purchase an additional share at $1.40 for 36 months; broker warrants were also issued equal to 7% of the units.
• Net proceeds are earmarked for quantum hardware development, lab facilities, staffing, software/equipment acquisition, research & product development, and general working capital.

Key Details

• Units Issued: 3,285,713 units @ $1.05 per unit → Gross Proceeds: $3,450,000 (including full exercise of the over‑allotment option).
• Unit Composition:
• 1 common share per unit.
• 1 share purchase warrant per unit (exercise price $1.40 per share; exercisable for 36 months from closing).
• Broker Warrants: Non‑transferable warrants equal to 7% of the number of units issued; each broker warrant allows purchase of one share at the issue price ($1.05) for 36 months. Broker warrants are subject to a hold period of 4 months + 1 day.
• Underwriter/Placement Agent: Hampton Securities Limited acted as lead placement agent, receiving a cash commission equal to 7% of gross proceeds.
• Use of Proceeds: Funding for quantum hardware development (human resources, lab facilities, software and equipment), research & product development, and general working capital.
• Regulatory Exemptions: Units sold under NI 45‑106 Part 5A prospectus exemptions; no hold period on the units themselves under Canadian securities law.

Notable Quotes

(No direct quotes were provided in the release.)