REG-Quantum Blockchain Technologies Plc: Business Update - Existing Technology Investments

Quantum Blockchain TechnologiesAnnouncement

24/06/2021 07:05

24 June 2021

Quantum Blockchain Technologies Plc
(“QBT” or “the Company”)

Business Update:

 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.

-ends-

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) Jeff Keating              +44 (0)20 3470 0470   
 Leander (Financial PR) Christian Taylor-Wilkinson                                 +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



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