REG - Braveheart Inv Group - Subscription in IQ-AI Ltd Placing

Braveheart InvestmentAnnouncement

18/03/2025 10:30

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RNS Number : 1322B  Braveheart Investment Group plc  18 March 2025

18 March 2025

 

Braveheart Investment Group plc

(the "Company")

 

Subscription in IQ-AI Ltd Placing

 

Braveheart Investment Group plc (AIM: BRH) announces the participation in
IQ-AI Ltd's ("IQ-AI") placing to raise £250,000 (the "Placing") via the
issuance of 25,000,000 new ordinary shares (the "Placing Shares") at a price
of £0.01 per share (the "Issue Price"). The Company, an existing shareholder
in IQ-AI, has subscribed for 7,000,000 Placing Shares for a consideration of
£70,000. On admission of the Placing Shares, the Company will hold 72,415,862
ordinary shares in IQ-AI which represents 29.35% of the issued share capital
of IQ-AI as enlarged by the Placing.

 

IQ-AI, the parent company of Wisconsin-based Imaging Biometrics, LLC (IB), is
focused on delivering quantitative imaging platforms and therapeutics that
transform how clinicians diagnose and treat patients more efficiently and
effectively. IQ-AI's ordinary shares are listed on the main market of the
London Stock Exchange.

 

In the year ended 31 December 2023, IQ-AI made a loss before tax of
approximately £0.62 million on revenue of approximately £0.6 million and as
at that date had net assets of approximately £0.09 million. As at 30 June
2024, IQ-AI had net assets of approximately £0.43 million.

 

The Board continues to seek investment opportunities, both within its existing
portfolio and from outside. The Braveheart Board considers this investment to
be a strategic investment and thus an important addition to the Group's
portfolio.

 

For further information:

 

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown, Chief Executive Officer

 Viv Hallam, Executive Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: 020 3328 5656
 James Reeve / Ashur Joseph

 Peterhouse Capital Limited (Joint Broker)                      Tel: 020 7469 0936

 

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