TIDMQBT 
 
19 January 2022 
 
                      Quantum Blockchain Technologies Plc 
                           ( "QBT" or "the Company") 
 
                          Sipiem Court Hearing Update 
 
The board of Quantum Blockchain Technologies (AIM: QBT) is pleased to update 
shareholders on the latest hearing regarding the legal action started by Sipiem 
SpA ("Sipiem"), which was subsequently acquired by Clear Leisure 2017 Limited 
(a wholly owned subsidiary of the Company), against Sipiem's previous board and 
internal audit committee. 
 
On 12 January 2022, the parties appeared before the Venice Court (the "Court") 
and as anticipated during the last hearing, the Judge granted the parties the 
right to file their comments on the Court appointed independent expert's Report 
("Report"). In particular, regarding the proposed damage estimations in the 
Report, the damages caused to Sipiem may exceed ?7 million, according to the 
Report. 
 
As a result of the hearing, the following timeline was established: 
 
  * by 27 January 2022, the parties' experts shall file their comments on the 
    estimated level of damages; 
  * by 28 February 2022, the Court appointed independent expert will file an 
    updated Report taking into account the comments of the parties' experts; 
  * on 4 May 2022, the final hearing will be held, where the parties shall 
    present their finalised requests to the Court. 
 
Following the 4 May 2022 hearing, and unless the Judge deems it appropriate to 
carry out a further discovery activity, the parties will then have 
approximately an aggregate of 80 calendar days to file their final written 
arguments and replies. The Court will then pass its judgement, which the 
Company reasonably expects before the end of 2022 (bar further discovery 
activity if needed or other unexpected events). 
 
Francesco Gardin, CEO and Chairman of QBT, commented, "Once again, we are very 
pleased with the outcome of this intermediate hearing, especially in relation 
to the fast-track schedule for the next steps of this legal action. 
 
"The Company maintains a confident outlook on the merit of the legal claim, and 
will, in the meantime, continue working on its new strategy focused on 
Blockchain, Artificial Intelligence, Cryptocurrencies and Quantum Computing." 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law 
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed 
in accordance with the Company's obligations under Article 17 of MAR. 
 
For further information please contact: 
 
Quantum Blockchain Technologies Plc 
Francesco Gardin, CEO and Executive 
Chairman                                          +39 335 296573 
 
SP Angel Corporate Finance (Nominated Adviser & Broker) 
Jeff 
Keating 
          +44 (0)20 3470 0470 
 
Leander (Financial PR) 
Christian 
Taylor-Wilkinson 
        +44 (0) 7795 168 157 
 
About Quantum Blockchain Technologies Plc 
 
QBT (AIM: QBT) is an AIM listed investment company which has recently realigned 
its strategic focus to technology related investments, with special regard to 
Quantum computing, Blockchain, Cryptocurrencies and AI sectors. The Company has 
commenced an aggressive R&D and investment programme in the dynamic world of 
Blockchain Technology, which includes cryptocurrency mining and other advanced 
blockchain applications. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 19, 2022 05:40 ET (10:40 GMT)

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