Quantum Blockchain Technologies Plc Business Update - Existing Technology Investments

 
TIDMQBT 
 
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          [phone] 
 
 
SP Angel Corporate Finance 
(Nominated Adviser & Broker)                          [phone] 
Jeff Keating 
 
 
Leander (Financial PR)                                [phone] 
Christian Taylor-Wilkinson 
 
 
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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

June 24, 2021 02:00 ET (06:00 GMT)