Quantum Secure Encryption Corp. Change of Auditor

Rhea-AI Summary

Quantum Secure Encryption (CSE: QSE, OTCQB: QSEGF, FSE: VN80) appointed MNP LLP as its new auditor effective May 15, 2026, replacing Mao & Ying LLP.

The Audit Committee and Board approved the change. The former auditor issued no modified opinions for the last two financial years, and the company reports no “reportable events” under National Instrument 51-102.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2026) - Quantum Secure Encryption Corp. (CSE: QSE) (OTCQB: QSEGF) (FSE: VN80) (the "Company") is pleased to announce the appointment of MNP LLP ("MNP") as new auditor effective as of May 15, 2026. MNP replaces Mao & Ying LLP (the "Former Auditor") as the Company's auditor.

The Company's Audit Committee and Board of Directors approved the change in auditor, and there was no modified opinion expressed in the Former Auditor's report on any of the Company's financial statements relating to the period commencing at the beginning of the Company's two most recently completed financial years and ending on the date of resignation of the Former Auditors.

There have been no "reportable events" within the meaning assigned under subsection 4.11(1) of National Instrument 51-102 Continuous Disclosure Obligations.

About QSE - Quantum Secure Encryption Corp.

QSE - Quantum Secure Encryption Corp. is a Canadian technology company specializing in postquantum data security, encryption, and secure data infrastructure. Built around quantum-delivered entropy and zero-knowledge architecture, QSE's solutions help protect sensitive data from current cyber threats and future quantum-enabled attacks. QSE serves organizations across commercial, enterprise, and public-sector environments requiring long-term data confidentiality and resilience.

For more information on QSE's quantum security solutions, visit www.qse.group or contact sales@qse.group.

Contact Information:

Ted Carefoot Chief Executive Officer
QSE - Quantum Secure Encryption Corp
 
Email: ted@qse.group
Website: www.qse.group

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets, and more specifically, the use of proceeds of the Offering. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, those risks and assumptions described in the Company's latest management discussion and analysis, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca. While QSE considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, continued satisfaction of Canadian Securities Exchange requirements, product safety and recalls, regulatory compliance and risks associated with the Company's business. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.

The Canadian Securities Exchange has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297725

FAQ

What auditor change did Quantum Secure Encryption (QSEGF) announce on May 15, 2026?

Quantum Secure Encryption appointed MNP LLP as its new auditor effective May 15, 2026. According to the company, MNP replaces Mao & Ying LLP after approval by the Audit Committee and Board of Directors, formalizing a change in the firm reviewing its financial statements.

Who is the new auditor for Quantum Secure Encryption stock QSEGF?

The new auditor for Quantum Secure Encryption is MNP LLP, effective May 15, 2026. According to the company, MNP LLP assumes responsibility for auditing the firm’s financial statements going forward, following the resignation of Mao & Ying LLP as the previous auditor.

Did Quantum Secure Encryption’s former auditor issue any modified opinions before the 2026 auditor change?

No, the former auditor did not issue any modified opinions on recent Quantum Secure Encryption financial statements. According to the company, Mao & Ying LLP’s reports for the last two completed financial years contained no modified opinions up to the date of resignation.

Were there any reportable events in Quantum Secure Encryption’s auditor change in 2026?

Quantum Secure Encryption reports no reportable events related to its 2026 auditor change. According to the company, there were no events as defined under subsection 4.11(1) of National Instrument 51-102 that needed disclosure in connection with the transition from Mao & Ying LLP to MNP LLP.

Did Quantum Secure Encryption’s Board approve the 2026 change of auditor for QSEGF?

Yes, Quantum Secure Encryption’s Board and Audit Committee approved the 2026 change of auditor. According to the company, these governance bodies formally authorized appointing MNP LLP and accepting Mao & Ying LLP’s resignation, aligning the transition with corporate oversight and regulatory requirements.

What does the auditor change mean for Quantum Secure Encryption investors holding QSEGF shares?

The auditor change means MNP LLP will now review Quantum Secure Encryption’s financial statements. According to the company, the transition followed Board and Audit Committee approval, with no modified prior opinions or reportable events disclosed, indicating a routine shift in the external audit provider.