Waterloo, Ontario--(Newsfile Corp. - August 11, 2026) - QuantumCore Ltd. (CSE: QNCR) (FSE: K1Y) ("QuantumCore" or the "Company") is pleased to announce that it has completed an upsized first tranche of its previously announced non-brokered private placement financing (the "Offering"). Pursuant to the first tranche closing, the Company issued 2,343,945 common shares of the Company (the "Shares") at a price of C$2.00 per Share for aggregate gross proceeds of C$4,687,890.

The Company is also pleased to announce that it has upsized the Offering from C$4,269,600 to aggregate gross proceeds of up to C$5,113,890. Of such amount, C$4,687,890 has been raised pursuant to the first tranche closing announced herein, with the remaining C$426,000 to be raised from existing shareholders with the goal of maintaining their respective ownership interests in the Company pursuant to a second tranche expected to close on or about August 18, 2026, subject to customary closing conditions and regulatory approvals, including the approval of the Canadian Securities Exchange.

QuantumCore intends to use the net proceeds of the Offering for general corporate and working capital purposes.

All Shares issued pursuant to the Offering will be subject to a hold period of four months and one day from their respective dates of issuance in accordance with applicable Canadian securities laws.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Shares being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, these Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of QuantumCore in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Wildeboer Dellelce LLP is acting as Canadian legal counsel to QuantumCore in connection with the Offering.

About QuantumCore

QuantumCore is building the critical infrastructure that will enable the next generation of quantum computers. The Company develops advanced quantum hardware technologies, including superconducting quantum amplifiers and single-photon detector solutions, designed to address the performance and scalability challenges facing the rapidly growing quantum computing industry. Through a combination of internal innovation and strategic acquisitions, QuantumCore aims to become a leading supplier of essential hardware powering quantum computing systems worldwide.

Cautionary Note Regarding Forward-Looking Information:

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes, without limitation, statements regarding completion of the upsized portion of the Offering, the anticipated timing of such closing, receipt of regulatory approvals, the intended use of proceeds, the Company's business plans and objectives, and other statements that are not historical facts. Often, but not always, this forward-looking information can be identified by the use of words such as "expects", "anticipates", "believes", "intends", "estimates", "plans", "potential", "projected", or statements that events "may", "will", "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the forward-looking information, including those factors discussed under "Risk Factors" in the Listing Statement of the Company dated March 31, 2026, which is available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca. These factors should be considered carefully and readers should not place undue reliance on the forward-looking information. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date hereof and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Source: QuantumCore Ltd.