Business
Redwood AI Announces Letter of Intent for Potential Acquisition of Quantum.IQ
VANCOUVER, BC / ACCESS Newswire / May 28, 2026 / Redwood AI Corp. (CSE:AIRX)(OTCQB:RDWCF)(Frankfurt:Y0N, WKN: A422EZ) ("Redwood" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent ("LOI") to explore a ...
About this update from Redwood Ai Corp.
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / May 28, 2026 / Redwood AI Corp. (CSE:AIRX)(OTCQB:RDWCF)(Frankfurt:Y0N, WKN: A422EZ) ("Redwood" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent ("LOI") to explore a possible transaction to acquire Quantum.IQ ("QIQ"), an arm's length party. There can be no assurance that the parties will enter into a definitive agreement or that the proposed transaction will be completed.","length":499,"tagName":"p"},{"type":"text","content":"Based in Vancouver, British Columbia, Quantum.IQ is an AI-driven, next generation quantum cybersecurity company, developing software designed to help high-security organizations, including government, defence, financial services and critical infrastructure sectors, identify, assess and upgrade the encryption systems they rely on to protect sensitive data from future quantum-enabled cyber threats. Its Post-Quantum Cryptography ("PQC") platform is designed to support end-to-end quantum-resilient security adoption, including cryptographic asset discovery, Cryptographic Bill of Materials ("CBOM") creation1, alignment with emerging PQC standards, remediation planning, continuous monitoring, and executive-level reporting. Quantum.IQ's platform is intended to help organizations assess their cryptographic posture, identify potential exposure across certificates, TLS configurations, APIs, and source code, and plan migration pathways toward quantum-resistant security infrastructure.","length":1011,"tagName":"p"},{"type":"text","content":"Under the terms of the LOI, the parties intend to negotiate a definitive agreement pursuant to which Redwood would acquire QIQ for consideration payable in common shares in the capital of Redwood, subject to a maximum purchase price of 7,000,000 common shares issuable upon closing, and up to a further 7,000,000 common shares upon the achievement of certain milestones, and with final terms to be determined through mutual due diligence and the negotiation of definitive documentation. All consideration shares (i.e., up to 14,000,000) will be subject to the following escrow release conditions:","length":596,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"10% to be released after 4 months","length":33,"tagName":"p"}]}...