Mr. Andrew Cheung reports

01 QUANTUM ANNOUNCES CLOSING OF $2.35 MILLION FINANCING

01 Quantum Inc. has closed its previously announced equity financing of 4,892,499 units, led by Hampton Securities Ltd., at an issue price of 48 cents per unit for gross proceeds of $2,348,399.52.

Each unit consists of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant is exercisable at 75 cents for a period of 36 months from the closing of the offering.

"This financing strengthens our balance sheet and provides the necessary capital to pursue our strategic road map," said Andrew Cheung, chief executive officer of 01 Quantum. "With a solid financial foundation, we are expanding our product development and sales and marketing capabilities to drive engagement with key stakeholders. As quantum computing advances, we remain focused on building the secure communications infrastructure that will underpin trust in the quantum era."

The company relied on Part 5A of National Instrument 45-106 (Prospectus Exemptions) as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption) for the issuance of units pursuant to the offering, and, as such, the securities underlying the units are not subject to resale restrictions.

Hampton acted as the sole agent on the offering, which was completed on a commercially reasonable effort basis. As consideration for its services, the agent received a cash fee equal to 7 per cent of the gross proceeds of the offering. In addition, the company issued to the agent 342,475 compensation options. Each compensation option entitles the agent to purchase one common share at the offering price for a period of 36 months from the closing of the offering. The compensation options are non-transferable, and the securities issued on exercise of the compensation options are subject to a hold period that expires four months and one day after issuance.

The company intends to use the net proceeds from the offering to advance its product development initiatives, expand its product development, sales and marketing teams, accelerate commercialization efforts of its technology and commercial applications, and finance general working capital needs as further described in the offering document (as defined below).

Pursuant to the offering, the company issued 200,000 units to Tyson Macaulay, a director of the company, who is consider to be a related party (within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions)), making the offering a related-party transaction (within the meaning of MI 61-101). The company was exempt from obtaining a formal valuation for, and minority approval of, the related-party subscription pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively. The material change report to be filed in connection with the offering will be filed fewer than 21 days prior to the closing of the offering. The shorter period was necessary to permit the company to close the offering in a time frame consistent with usual market practice for transactions of this nature.

About 01 Quantum Inc.

01 Quantum, formerly 01 Communique Laboratory Inc., is known for its innovative work in postquantum cybersecurity and remote access solutions. The company's cybersecurity business unit focuses on postquantum cybersecurity with the development of its IronCAP product line. IronCAP's technologies are patent protected in the United States by its patents No. 11,271,715 and No. 11,669,833. The company's remote access business unit provides its customers with a suite of secure remote access services and products under its I'm InTouch and I'm OnCall product offerings.

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