GSM Innovations acquisition and capital raise complete

ASX RELEASE

11 December 2020

Highlights

  • $4m capital raise and acquisition of GSM-I completed

On 1 October, 2020 Quantify Technology Holdings Limited (ASX:QFY) ("Quantify Technology", the "Company") announced it had entered into a Binding Terms Sheet for the acquisition of 100% of the share capital of GSM Innovations Pty Ltd ("GSM-I"), a wholly owned subsidiary of Gerard Private Holdings (Finance) Pty Ltd1. At the same time, it announced a share consolidation and $4m capital raise led by PAC Partners Securities Pty Ltd ("PAC").

The Company is delighted to announce the acquisition of GSM-I and the capital raise completed on 11 December 2020. The Company now has 600,685,535 shares on issue, following the 25:2 consolidation, acquisition and capital raise.

Simon Gerard and Jordan Tentori have been appointed as Directors of the Company.

Beacon Lighting Group Ltd ("BLX") is a distributor of the GSM-I products and has invested in the capital raise. Perennial Value Management Ltd has also invested in the capital raise and becomes a substantial shareholder along with Gerard Private Holdings (Finance) Pty Ltd.

Brett Savill, CEO of Quantify Technology comments: 'We are excited to have the funding and partners in place to help the devices reach their full potential. This capital raise will help us accelerate growth across all our channels. I am also delighted to welcome Simon Gerard and Jordan Tentori to the board, along with the new employees. The acquisition of GSM-I is a real case of one plus one making three.'

This release has been authorised by the board.

-ENDS-

Further Information:

For other enquiries

Brett Savill

E: brett.savill@quantifytechnology.com | P: +61 433 932 020

About Quantify Technology

Quantify Technology is an Australian-based company, focused on making lives better in homes, workplaces, and communities with their Internet of Things (IoT) smart home technology.

1https://wcsecure.weblink.com.au/pdf/QFY/02288590.pdf

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Disclaimer

Quantify Technology Holdings Limited published this content on 10 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 December 2020 13:52:05 UTC