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Toronto, Ontario and New York, New York–(Newsfile Corp. – August 25, 2021) – QuantGate Systems Inc. (OTCQB: QGSI) (the “QuantGate” or “Company”), an Artificial Intelligence (“AI“), Machine Learning (“ML“) SaaS-based Fintech solutions provider, is delighted to report the closing of USD $1,619,513 Convertible Debenture (“Convertible Debenture“) pursuant to the previously announced transaction of November 15, 2019, and an additional USD $1,000,000 non-brokered Private Placement by a Strategic Investor (“Investor“).

On November 15, 2019, the Company commenced a private placement offering of Senior Secured Convertible Notes (“Notes“) on a best efforts basis up to a maximum of USD 3.25 Million. The notes bear interest of 1% per month which will accrue and be added to the principal as a balloon payment at maturity (18 months). The principal and interest automatically convert into three-year convertible debentures with a 12% coupon, paid semi-annually (QuantGate: Annual Year End Report May 31, 2020 Note 5: Convertible Debentures).

QuantGate is also delighted to announce the completion of a non-brokered Private Placement financing (the “Financing“) in the amount of USD $1 Million. Pursuant to the offering, the Company received Gross proceeds of USD $1 Million, via a Secondary Offering (the “Offering“) by the issuance of 5 million shares at USD $.20 per share. The entire financing was subscribed by an arms-length, Strategic Investor.

Use of proceeds of the Notes, as well as the Financing, will be used for general working capital purposes, and to strengthen the Company balance sheet.

“This injection of capital comes at a pivotal time for our Company,” states Leonardo “Leo” Cardoso, CEO of QuantGate. “As we continue to build out our sophisticated intelligence and solutions, having this working capital allows us to greatly accelerate our development and tech stack as we push towards rolling out our Premium services features.”

Wayne Welter, Chairman of QuantGate, comments, “We continue to execute on the company’s Business Plan and vision, and remain laser focused to develop the best software solutions for our clients, and the Investment community. By integrating our “Intelligence” and our proprietary solutions, from our Enterprise platform across the entire ecosystem to trading apps and Digital Wallets, is a game-changer for our company, 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% wholly owned subsidiary of QuantGate. Our core intelligence identifies investment opportunities across multiple asset classes, rooted in the financial markets, and perfected for cryptocurrency exchanges, enabling our valued clients to make better informed investment decisions. Turnkey solutions and efficient API’s, founded on robust and scalable SaaS architecture, easily allow 3rd party integration for onboarding existing users, and scaling globally.

For additional information on QuantGate Systems Inc., please visit the Company’s website at www.quantgatesystems.com, or visit their social media: Twitter, Facebook and LinkedIn.

For further information on the Pilot 2.0, please visit www.pilottrading.co and connect on Facebook and Instagram.

Forward-Looking Statements:

All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will 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, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. 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 revise them to reflect the occurrence of future unanticipated events.

QuantGate Systems Inc. does not undertake any obligation to update any forward-looking statements and cautions investors to consider all other risks and uncertainties, including those disclosed in QuantGate filings with the United States Securities and Exchange Commission.

Contact Information:

QuantGate Systems:
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94336

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