Waterloo, Ontario--(Newsfile Corp. - September 11, 2026) - QuantumCore (CSE: QNCR) ("QuantumCore" or the "Company"), a developer of enabling hardware for the quantum computing industry, is pleased to announce that it has completed its previously announced acquisition of 100% of Avalanche PhotoniQ Inc.("Avalanche"), a developer of next-generation single-photon detector technology, pursuant to a share purchase agreement effective September 9, 2026 (the "Agreement").

The closing represents an important milestone in QuantumCore's strategy to build a broad-based quantum infrastructure company supplying critical components between the control layer and quantum processing unit ("QPU") across multiple quantum computing architectures.

With the acquisition complete, QuantumCore now has two core technology platforms: (1) superconducting traveling-wave parametric amplifiers ("TWPAs") for the amplification of quantum signals in cryogenic environments; and (2) advanced single-photon detectors designed for applications across photonic quantum computing, quantum communications, quantum networking, sensing and advanced imaging.

Building the Infrastructure Layer Between the Controller and the QPU

QuantumCore's strategy is focused on developing and acquiring the specialized hardware required to scale quantum computers, regardless of the underlying qubit modality.

The Company believes the emerging quantum computing industry will increasingly rely on a specialized ecosystem of component suppliers, similar to the evolution of the semiconductor industry. QuantumCore intends to establish itself as a leading supplier within this infrastructure layer by developing technologies that address signal detection, amplification, readout and other critical functions surrounding the QPU.

"This closing is an important step in the evolution of QuantumCore," said Eugene Profis, Chief Executive Officer of QuantumCore. "Our objective is to build the infrastructure layer between the controller and the QPU. We believe some of the most compelling opportunities in quantum computing will be in the critical components that every system requires as the industry scales."

"By bringing Avalanche into QuantumCore, we are adding a second differentiated technology platform and significantly broadening the architectures and customers we can serve. Together, they advance our strategy of becoming a diversified 'picks and shovels' supplier to the global quantum industry. The acquisition positions the company to serve multiple modalities of quantum computing"

Avalanche Technology

Avalanche has developed a next-generation single-photon detector platform based on proprietary semiconductor metasurface technology. The technology uses engineered nanoscale structures designed to achieve high photon absorption, enabling high detection efficiency together with precise timing resolution.

The acquired assets include Avalanche's intellectual property portfolio, including patent rights and a single-photon detector design that is ready for commercial foundry production. With the device design prepared for foundry manufacturing, QuantumCore intends to move the platform into commercial production and customer evaluation.

QuantumCore believes single-photon detection represents one of the largest infrastructure hardware opportunities within the multi-billion-dollar quantum computing market. Single-photon detectors are critical enabling components across photonic quantum computing, quantum communications, quantum networking and other architectures and applications that rely on the generation, transmission and measurement of individual photons.

High-performance single-photon detection has potential applications across several rapidly developing markets, including:

• Photonic quantum computing and qubit readout;
• Neutral-atom and trapped-ion quantum computing applications;
• Quantum communications and quantum key distribution;
• Quantum networking and entanglement verification;
• Satellite and free-space optical communications;
• Quantum sensing and advanced imaging;
• Biological imaging and CMOS failure analysis; and
• Other applications requiring highly sensitive photon detection.

The Avalanche platform is complementary to QuantumCore's existing superconducting amplifier program and expands the Company's addressable market beyond superconducting quantum computing.

Transaction Details

Under the terms of the Agreement, QuantumCore has acquired 100% of the issued and outstanding shares of Avalanche for an aggregate purchase price of C$2.0 million, consisting of:

• a closing-date cash payment of C$1,070,000, paid by wire transfer of immediately available funds on the closing date; and
• a milestone payment of C$930,000, payable following the production and completion of an aggregate of 100 qualifying detectors, which may be satisfied in cash, through the issuance of common shares of QuantumCore, or any combination thereof, subject to applicable securities laws, requirements of the Canadian Securities Exchange ("CSE") and the availability of any required exemption.

In addition to the C$2.0 million purchase price, the sellers may be entitled to a one-time earn-out payment of C$1.0 million if QuantumCore achieves C$1.0 million of annual net revenue from the business, qualifying detectors and/or related products and services during the earn-out period, subject to the terms and conditions of the Agreement.

The price per common share of QuantumCore issued in satisfaction of any portion of the milestone payment or earn-out payment will be equal to the Fair Market Value of such shares, being the volume-weighted average trading price per QuantumCore share on the CSE for the 20 consecutive trading days immediately preceding the applicable date of issuance.

With the transaction now closed, QuantumCore will begin integrating Avalanche's technology, intellectual property and development program into the Company's broader commercialization strategy.

Wildeboer Dellelce LLP acted as Canadian Legal Counsel to QuantumCore in connection with this transaction.

A Broader Quantum Infrastructure Platform

The acquisition expands QuantumCore from its initial focus on superconducting quantum computing infrastructure into a broader component platform capable of addressing multiple quantum architectures. The addition of a detector platform ready for commercial foundry production gives QuantumCore exposure to what the Company believes is one of the largest infrastructure hardware opportunities in the multi-billion-dollar quantum computing market.

QuantumCore's portfolio now includes:

Superconducting TWPAs - designed to amplify extremely weak qubit readout signals while minimizing additional heat and noise within cryogenic quantum computing systems, including both the superconductor and semiconductor verticals.

Single-Photon Detectors - designed to detect individual photons with high efficiency and precise timing for quantum computing, networking, communications, sensing and optical applications.

QuantumCore intends to continue evaluating opportunities to organically develop and selectively acquire complementary technologies that strengthen its position within the infrastructure layer of the quantum computing ecosystem.

"Our strategy is not to choose which quantum computing architecture ultimately wins," added Profis. "Our strategy is to supply the critical infrastructure that the industry needs to scale. Whether quantum information is carried through microwave signals, photons or other modalities, increasingly sophisticated technologies will be required to generate, manipulate, amplify and detect those signals. We want QuantumCore to be one of the companies building that infrastructure."

About QuantumCore

QuantumCore is a Canadian quantum infrastructure company focused on developing mission-critical hardware that enables the scaling of quantum computing systems. The Company is building a portfolio of enabling technologies positioned between the control layer and the QPU, including superconducting traveling-wave parametric amplifiers and advanced single-photon detectors.

QuantumCore's strategy is to become a leading "picks and shovels" supplier to the global quantum computing industry by developing and acquiring critical component technologies applicable across multiple quantum computing architectures.

About Avalanche

Avalanche develops next-generation single-photon detector technology using advanced semiconductor metasurface designs. Its detector platform is designed to provide near-perfect photon absorption, high detection efficiency and precise timing resolution for applications including quantum computing, quantum communication, quantum networking, optical sensing and advanced imaging.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information, including statements regarding the integration of Avalanche's technology, intellectual property and development program, potential commercial production and customer evaluation, the potential payment of milestone and earn-out consideration, product development, commercialization strategy, addressable market opportunities and the Company's intention to continue evaluating complementary technologies. Forward-looking statements are based on current expectations and assumptions, including assumptions regarding the Company's ability to integrate Avalanche, advance product development, pursue commercial production and customer evaluation, achieve applicable revenue or production milestones and identify or complete complementary technology opportunities.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including risks related to technology integration, product development, commercialization, customer evaluation, milestone achievement, revenue generation and general business, economic, regulatory and capital market conditions. Readers are cautioned not to place undue reliance on forward-looking statements. There can be no assurance that milestone payments, earn-out payments, commercial production, customer evaluation or revenue generation will occur as described. The forward-looking statements in this news release speak only as of the date hereof, and QuantumCore undertakes no obligation to update forward-looking statements except as required by applicable securities law.

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Source: QuantumCore Ltd.