Montreal, Quebec--(Newsfile Corp. - June 6, 2024) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) ("QeM" or the "Corporation"), announces that, subject to regulatory approval, it has retained Red Cloud Securities Inc. ("Red Cloud") to provide market-making services to the Corporation in compliance with the policies and guidelines of the TSX Venture Exchange ("TSX-V") and other applicable legislation.
Red Cloud is a Toronto-based financial services company that listed companies with accessing capital markets and enhancing their corporate profile.
Red Cloud will trade common shares of QeM on the TSX-V for the purposes of maintaining a reasonable market and improving the liquidity of the Corporation's common shares.
Under the agreement, the Corporation will pay Red Cloud $5,000 per month during the term, payable quarterly upfront in advance for the first 3 months and thereafter monthly. There are no performance factors contained in the agreement between Red Cloud and the Corporation and Red Cloud will not receive any shares or options from the Corporation as compensation for services it will render. The term of engagement is ongoing and may be terminated by either party on 30 days' prior written notice.
The Corporation and Red Cloud have an arm's length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of QeM.
About QeM
The Company's mission is to address the growing demand for affordable hardware and software security for connected devices. QeM has become a pioneering force in classical and quantum cybersecurity solutions thanks to its patented Quantum Random Number Generator, a security solution that exploits the built-in unpredictability of quantum mechanics and promises to provide enhanced protection for high-value assets and critical systems.
The Company intends to target highly valued Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.
For further information, please visit our website at https://www.quantumemotion.com/ or contact:
Francis Bellido, Chief Executive Officer
Tel: 514.956.2525
Email: info@quantumemotion.com
Website: www.quantumemotion.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation's periodic reports including the annual report or in the filings made by Quantum from time to time with securities regulatory authorities.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212002
SOURCE: Quantum eMotion Corp.
