Calgary, Alberta and Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - SuperQ Quantum Computing Inc. (CSE: QBTQ) (OTCQB: QBTQF) (FSE: 25X) ("SuperQ Quantum", "SuperQ", or the "Company") is pleased to announce the closing of its previously announced private placement financing (the "Offering") for aggregate gross proceeds of C$4,600,713, which includes the full exercise of the over-allotment option. Under the Offering, the Company sold 5,898,350 units of the Company (the "Units") at a price of C$0.78 per Unit (the "Offering Price").
Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Share at a price of C$1.00 at any time on or before June 30, 2028, provided, however, that the Warrants will not be exercisable for a period of 60 days following the closing date of the Offering.
Canaccord Genuity Corp. (the "Agent") acted as sole agent and sole bookrunner in connection with the Offering. As consideration for its services, the Agent received (i) a cash commission of C$322,049.91, representing 7% of the gross proceeds of the Offering and (ii) an aggregate of 412,884 compensation warrants (the "Broker Warrants"), representing 7% of the aggregate number of Units issued pursuant to the Offering, with each such Broker Warrant entitling the holder to purchase one Share at the Offering Price at any time on or before June 30, 2028. The Company also paid to the Agent a corporate finance fee of C$100,000 by issuance of an aggregate of 128,205 Shares at the Offering Price.
The Company intends to use the net proceeds from the Offering for quantum hardware development, including human resources, lab facilities, software and equipment, conduct research and product development and for the general working capital needs of the Company.
The Units were sold by way of private placement 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 (the "Listed Issuer Financing Exemption"). The securities issued under the Listed Issuer Financing Exemption are not subject to a hold period pursuant to applicable Canadian securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.