Quantum Blockchain Technologies Plc – Business Update – Existing Technology Investments
London, June 23
24 June 2021
Quantum Blockchain Technologies Plc
(“QBT” or “the Company”)
Existing Investments and Sipiem Court Hearing Date
The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to report on recent developments on the Company’s existing investments.
ForCrowd Srl (“Forcrowd”)
QBT has increased its stake in Forcrowd to 41.17%, having purchased an additional 21.17% stake in ForCrowd held by minority shareholders for a total consideration of €34,000, (€10,000 of which has been deducted from the €20,000 payable to ForCrowd, as announced on 1 February 2021), taking advantage of a special situation that arose among previous shareholders.
Furthermore, Forcrowd is due to launch its first crowdfunding campaign of 2021 (currently in the “coming soon” section on its website). The Company is pleased to report that the project has already received pre-launch investment commitments, enhancing the probability of a successful campaign for ForCrowd.
The business launching the campaign is called MakeMe Srl, an Italian innovative start-up which operates in the recruitment sector.
Other crowdfunding campaigns are expected to be launched soon.
PBV Monitor Srl (“PBV”)
As announced on 15 October 2020, PBV, in which QBT has a 10% interest, launched its intelligence service.
Subsequently, PBV has focused on the efficient marketing of its intelligence service to law firms and inhouse legal counsels, whilst consolidating its editorial partnerships in Italy (to print and sell sectorial printed directories) and establish new relationships, especially in the USA.
Currently, considering the general improvement of the Covid-19 pandemic in Europe, PBV expects to re-launch its industry award events for the legal sector (in Italy and France), and hopes to re-invigorate a line of revenue that was negatively affected in 2020.
Moving forward, PBV is aiming to consolidate its intelligence service as a potential new line of revenue alongside its legal directory and award events, and to soft launch its new legal networking platform, which has been developed internally.
Geosim Systems Ltd (“Geosim”)
Following the successful delivery of its contract to develop a 3D high-resolution map of the indoor and outdoor areas of a major Asian airport (as last announced on 17 August 2020), Geosim is currently completing the first Phase in the development of a similar 3D Reality Model for a major North American airport.
The Milan and London Digital Twin projects announced on 16 December 2019, remain on hold but are still deemed viable and potentially still of interest by QBT.
Sipiem SpA (“Sipiem”) Court Hearing Date
Following the announcement on 28 May 2021, the Court of Venice has scheduled the hearing for 10 November 2021 during which the Judge will receive the parties’ comments on the report of the independent expert.
As noted in the Company’s announcement, the independent expert has assessed the economic value of the possible damages suffered by Sipiem at an amount of up to €7.8 million, subject to the Judge ruling that the conduct of Sipiem’s former board and internal audit committee was unlawful.
Francesco Gardin, Executive Chairman and CEO of QBT, commented, “Although the Company’s focus is now primarily on Quantum, Artificial Intelligence, Blockchain and Cryptocurrencies, QBT continues to monitor developments of the companies it has previously invested in, helping them in their growth and aiming eventually, to successful exits.
“Additionally, we are pleased that the Court of Venice promptly acted to schedule a new hearing, and we continue pursuing this legal claim with a positive outlook”.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please contact:
|Quantum Blockchain Technologies Plc
Francesco Gardin, CEO and Executive Chairman
|+39 335 296573|
|SP Angel Corporate Finance
(Nominated Adviser & Broker)
+44 (0)20 3470 0470
|Leander (Financial PR)
|+44 (0) 7795 168 157|
About Quantum Blockchain Technologies Plc
QBT (AIM: QBT) is an AIM listed investment company which has recently realigned its strategic focus to technology related investments, with special regard to Quantum computing, Blockchain, Cryptocurrencies and AI sectors. The Company has commenced an aggressive R&D and investment programme in the dynamic world of Blockchain Technology, which includes cryptocurrency mining and other advanced blockchain applications.
For further information, please visit, www.quantumblockchaintechnologies.co.uk