QuantGate Significantly Strengthens Balance Sheet with Closing of Convertible Debenture Funding and Additional Private Placement from Strategic Investor
Toronto, Ontario and New York, New York – (Newsfile Corp. – August 25, 2021) – QuantGate Systems Inc. (OTCQB: QGSI) (the “QuantGate” or “Company”), Artificial Intelligence (“AI“), machine learning (“ML“) The SaaS-based Fintech solutions provider is delighted to announce the closing of US $ 1,619,513 Convertible debenture (“Convertible debenture“) as part of the previously announced operation of November 15, 2019 and a 1,000,000 USD Private placement not negotiated by a strategic investor (“Investor“).
On November 15, 2019, the Company launched a private placement offering of Senior Secured Convertible Notes (“Remarks“) on a best efforts basis up to a maximum of $ 3.25 million. The Notes bear interest at 1% per month which will accrue and be added to principal as a lump sum payment at maturity (18 months Principal and interest automatically convert into three-year convertible debentures with a coupon of 12%, paid semi-annually (QuantGate: year-end annual report May 31, 2020 Note 5: convertible debentures).
QuantGate is also pleased to announce the completion of a non-middleman private placement financing (the “Funding“) in the amount of US $ 1 million. In connection with the offering, the Company received gross proceeds of US $ 1 million, through a secondary offering (the”Offer“) by issuing 5 million shares at $ 0.20 per share. The entire financing has been subscribed by an independent strategic investor.
The use of the proceeds from the Notes, together with the financing, will be used for general working capital purposes and to strengthen the Company’s balance sheet.
“This capital injection comes at a pivotal time for our business,” said Leonardo “Leo” Cardoso, CEO of QuantGate. “As we continue to develop our intelligence and sophisticated solutions, having this working capital allows us to significantly accelerate our development and technology stack as we strive to deploy our premium service features. “
Wayne Welter, President of QuantGate, comments, “We continue to execute the business plan and corporate vision, and remain laser focused to develop the best software solutions for our customers and the investment community.Intelligence“and our proprietary solutions, from our enterprise platform across the entire ecosystem to trading applications and digital wallets, are game-changers for our business, the investment community and for our shareholders.”
QuantGate Systems Inc. (OTCQB: QGSI) is a publicly traded Fintech company operating for over 10 years, developing sophisticated Artificial Intelligence (AI), Machine learning (ML) and proprietary big data processing algorithms and analytics to deliver SaaS solutions and seamless API integration. Pilot trading (www.pilottrading.co) is a 100% subsidiary of QuantGate. Our core intelligence identifies investment opportunities across multiple asset classes, anchored in financial markets and perfected for cryptocurrency exchanges, enabling our valued clients to make more informed investment decisions. Turnkey solutions and efficient APIs, based on a robust and scalable SaaS architecture, easily enable third-party integration for existing user integration and scalability on a global scale.
All statements included in this press release that deal with activities, events or developments that the Company expects, believes or anticipates will occur or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors that it deems appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties which contribute to the possibility that predictions, forecasts, projections and other forward-looking statements may prove to be inaccurate, some of which are beyond the control of the Company. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of unforeseen future events.
QuantGate Systems Inc. makes no commitment to update any forward-looking statements and warns investors of all other risks and uncertainties, including those disclosed in documents filed by QuantGate with the United States Securities and Exchange Commission. United.
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