Quantum eMotion Retains Red Cloud Financial ServicesNews Release June 6
Montreal, Quebec--(Newsfile Corp. - June 6, 2024) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) ("QeM" or the "Corporation"), announces that, subject to regulatory approval, it has retained Red Cloud Securities Inc. ("Red Cloud") to provide market-making services to the Corporation in compliance with the policies and guidelines of the TSX Venture Exchange ("TSX-V") and other applicable legislation.
Red Cloud is a Toronto-based financial services company that listed companies with accessing capital markets and enhancing their corporate profile.
Red Cloud will trade common shares of QeM on the TSX-V for the purposes of maintaining a reasonable market and improving the liquidity of the Corporation's common shares.
Under the agreement, the Corporation will pay Red Cloud $5,000 per month during the term, payable quarterly upfront in advance for the first 3 months and thereafter monthly. There are no performance factors contained in the agreement between Red Cloud and the Corporation and Red Cloud will not receive any shares or options from the Corporation as compensation for services it will render. The term of engagement is ongoing and may be terminated by either party on 30 days' prior written notice.
The Corporation and Red Cloud have an arm's length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of QeM.