BTQ Technologies Corp. and its strategic partner SDT Inc. have commercially launched QuREKA, a hybrid quantum cloud platform powered by QPerfect's MIMIQ emulator, at Quantum Korea 2026. The platform, unveiled at the Dongdaemun Design Plaza in Seoul from July 2 to 4, integrates CPU, GPU, and QPU resources to allow users to build and test quantum algorithms. This launch marks the transition of MIMIQ from an early-access integration to a fully commercialized service, providing Korean research institutions and enterprises with direct cloud-based access to QPerfect's technology. The deployment aligns with BTQ's strategy to pair quantum software with regional partners and follows its participation in the Korea-Canada Roundtable to strengthen bilateral quantum cooperation.

Acquisition and Integration

QPerfect SAS, the French developer of MIMIQ, is expected to become a wholly-owned subsidiary of BTQ following the completion of a previously announced acquisition. BTQ received regulatory approval from French Foreign Direct Investment authorities for this transaction. The total purchase price comprises a closing consideration of €18,592,242.83 and a potential earnout payment of up to €5,672,680.72. The closing consideration was paid through €2,024,000.13 in cash and the issuance of 2,195,929 common shares. The earnout is contingent on milestone achievements and consists of €440,604.07 in cash and 693,450 common shares. All shares were issued at approximately €7.54 per share.

Transaction and Management Details

In connection with the acquisition, BTQ issued 198,808 restricted share units to Philippe Blot, the CEO of QPerfect, who will continue in his role. The acquisition strengthens BTQ's portfolio in quantum software, emulation, and digital twin capabilities.

Strategic Expansion and Technology

MIMIQ allows users to design and validate circuits at scales of up to thousands of qubits, exceeding the limits of current physical hardware. SDT operates and commercializes the QuREKA platform, while QPerfect provides the MIMIQ back end. Alongside the cloud platform, SDT showcased its full-stack quantum portfolio at Quantum Korea 2026, including a new 4 K cryogenic system and a pulse-tube cryocooler. The event featured industry partners such as IonQ, NVIDIA, and QuantWare, highlighting the growing collaboration between global quantum ecosystems.

BTQ Technologies Corp announced an at-the-market equity program to offer and sell up to C$150,000,000 of its common shares. The company intends to use the net proceeds from the ATM Program for working capital purposes and to strengthen the position of its balance sheet. The net proceeds are expected to provide the company with flexibility regarding its operations and potential future acquisitions.

Sales of common shares, if any, will be made pursuant to a Controlled Equity OfferingSM Sales Agreement dated June 18, 2026. The agreement involves the company, Cantor Fitzgerald Canada Corporation as the Canadian Agent, and Cantor Fitzgerald & Co. as the U.S. Agent. Transactions will be deemed to be "at-the-market distributions" as defined in National Instrument 44-102 — Shelf Distributions or "at-the-market offerings" as defined in Rule 415 under the U.S. Securities Act of 1933, as amended.

The ATM Program is established pursuant to a prospectus supplement dated June 18, 2026 to the company's short form base shelf prospectus dated April 29, 2025, as amended on September 22, 2025. It is also established pursuant to a prospectus supplement dated June 18, 2026 to the company's U.S. base prospectus included in its registration statement on Form F-10, declared effective on September 29, 2025.

The agents are not required to sell any specific number or dollar amount of common shares but will use commercially reasonable efforts to sell shares requested by the company. The company may instruct the agents not to sell shares if sales cannot be achieved at or above the price designated by the company. There is no minimum amount of funds that must be raised under the offering, meaning the ATM Program may terminate after raising a small portion of the amount or none at all.

The ATM Program will be effective until the earliest of the issuance and sale of all common shares issuable pursuant to the program, the date the program is terminated pursuant to the terms of the Sales Agreement, or the expiry of the Canadian Base Shelf Prospectus. Cboe Canada and Nasdaq have been notified of the ATM Program, and listing of shares sold under the program will be subject to fulfilling all applicable listing requirements.

Key Details of the ATM Program