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QTMM PR Quantum Materials Closes Financing

Quote:SAN MARCOS, Texas, April 08, 2016 -- Leading North American quantum dot manufacturer Quantum Materials Corp (OTCQB:QTMM) today announced the company has closed its convertible note and warrant financing, previously disclosed in a Current Report on Form 8-K, filed on March 31, 2016.

“We accomplished our goal with the recent financing,” stated CEO Stephen A. Squires. “The funds raised this week leave the company well positioned to finalize the development of quantum dot products with our partners as we look forward to achieving significant revenues starting later in 2016.” Several directors and officers participated in the financing, for which Roth Capital Partners served as sole placement agent.

Quantum Materials Corp is working with leading display industry companies, to develop next generation quantum dot films focused on TV and high end monitor applications. “We are seeing increased adoption of quantum dots and we believe we are the only company that can currently deliver the full range of both cadmium-free and cadmium-based products sought by the display industry,” continued Squires. “Quantum Materials is well positioned to capture market share with our QDX product line of industry leading quantum dots. We anticipate being able to announce more development programs in the future and expect to see our products incorporated into displays available to the general public early next year.”

Also, concurrent with the close of financing, the Company is announcing that independent director Daniel Carlson has assumed the role of Chairman, taking over from company CEO and Director, Stephen A. Squires. “As we look to position Quantum Materials for a potential uplisting to a major exchange, the board felt it was prudent to separate the roles of CEO and Chairman by moving an independent director into the Chair,” stated Mr. Carlson. “This decision allows Stephen to devote his entire attention to moving the company through its successful development of quantum dots into commercial revenue, and I look forward to working closely with him to achieve this success.”



http://www.econotimes.com/Quantum-Materials-Closes-Financing-191870