Quantum eMotion Initiates Formal Action and Provides Update on Recent Statements by Terranova

Rhea-AI Summary

Quantum eMotion (QNCCF) has taken legal action against Terranova Defense Solutions following disputed statements about QeM's quantum-based communication security platform. The company has sent a formal demand letter requesting Terranova to correct its previous statements, ensure confidentiality of QeM's information, and cease making defamatory statements.

QeM emphasizes that Terranova never had access to their technology, making their claims unfounded. While Terranova has removed the statements in question, they have not responded to QeM's requests. The company maintains its focus on executing its business plan, including improving its patented technologies and pursuing commercialization efforts.

Positive

• Proactive legal action taken to protect intellectual property
• Terranova has removed disputed statements about QeM's technology

Negative

• Ongoing legal dispute could divert resources and management attention
• Potential reputational impact from public disagreement with Terranova

Montreal, Quebec--(Newsfile Corp. - January 17, 2025) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (FSE: 34Q0) ("QeM") wishes to provide an update regarding the disclosure made in its news releases dated January 2 and January 3, 2025 concerning statements made by Terranova Defense Solutions Inc. ("Terranova") about QeM's quantum-based communication security platform, which have since been removed.

In response to the situation, QeM, with the assistance of legal counsel, has taken formal action by sending a demand letter to Terranova. The letter requests that Terranova correct its previous statements and provide assurances regarding the confidentiality of QeM's information, as well as refraining from further defamatory statements. QeM reaffirms that Terranova did not have access to our technology, rendering their claims unsubstantiated.

Terranova has not provided any response to QeM's legitimate requests. We will continue to monitor the situation to ensure that it is resolved diligently.

QeM's focus remains on the execution of its business plan including the continuous improvement of its robust patented technologies and the commercialization efforts currently being deployed.

QeM will continue to keep the market informed of any material developments.

About QeM

The Company's mission is to address the growing demand for affordable hardware and software security for connected devices. QeM has become a pioneering force in classical and quantum cybersecurity solutions thanks to its patented Quantum Random Number Generator, a security solution that exploits the built-in unpredictability of quantum mechanics and promises to provide enhanced protection for high-value assets and critical systems.

The Company intends to target highly valued Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.

For further information, please visit our website at https://www.quantumemotion.com/ or contact us at: info@quantumemotion.com.

Marc Rousseau, Chief Financial Officer
Tel: (514) 886-0045
Email: info@quantumemotion.com
Website: www.quantumemotion.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation's periodic reports including the annual report or in the filings made by Quantum from time to time with securities regulatory authorities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237595

FAQ

What legal action has Quantum eMotion (QNCCF) taken against Terranova Defense Solutions?

QNCCF has sent a formal demand letter to Terranova requesting correction of previous statements, assurances of confidentiality, and cessation of defamatory statements.

How has Terranova responded to QNCCF's demand letter in January 2025?

Terranova has removed the disputed statements but has not provided any direct response to QNCCF's requests.

What is the nature of the dispute between QNCCF and Terranova Defense Solutions?

The dispute concerns statements made by Terranova about QNCCF's quantum-based communication security platform, which QNCCF claims are unsubstantiated as Terranova never had access to their technology.

What is QNCCF's current business focus amid the Terranova dispute?

QNCCF continues to focus on executing its business plan, improving its patented technologies, and pursuing commercialization efforts.