Strategic acquisition designed to integrate proprietary, historical financial data feeds into Quantum X's emerging artificial intelligence and quantitative technology ecosystems.
LOCUST VALLEY, N.Y., Oct. 6, 2026 /PRNewswire/ -- Quantum X Inc. (OTC: QUTX) ("Quantum X" or the "Company"), a publicly traded company advancing multi-vertical opportunities in quantum technology and artificial intelligence applications, today announced the execution of a binding letter of intent (the "LOI") to acquire an 80% interest in United Kingdom-based TraderMade Systems Ltd. ("TraderMade").
TraderMade is an established financial market data company providing real-time and historical foreign exchange data, APIs, and technology solutions to financial institutions, fintech companies, and quantitative research teams. TraderMade brings more than three decades of market-data experience, including the aggregation and delivery of historical financial datasets. Since high-quality, institutional-grade datasets are the foundational requirement for training and executing advanced AI and quantitative computing models, Quantum X views this proposed acquisition as a critical infrastructure investment to support its ongoing strategic transition.
Transaction Highlights and Strategic Structure
Under the terms of the LOI, Quantum X will acquire an 80% ownership interest in TraderMade from Currency Mountain Holdings, LLC ("CMH"). The transaction is structured to immediately position Quantum X as both majority shareholder and primary creditor:
- Equity and Debt Acquisition: Quantum X will acquire 80% of TraderMade's issued share capital, alongside all of CMH's rights to a GBP £412,162.47 receivable (approximately US$544,000), plus accrued interest, owed by TraderMade.
- Fixed Consideration: The proposed purchase price is US$550,000, payable entirely through the issuance of 550,000,000 Quantum X common shares at a fixed price of US$0.001 per share.
- Market Stability: The consideration shares will be fully paid and subject to a six-month lock-up period following closing. The share count is fixed and will not be adjusted for market price fluctuations prior to closing.
- Independent Valuation and Audits: To support the transaction's value, completion requires an independent valuation confirming that the combined value of the acquired shares and the receivable is at least US$550,000. Following closing, Quantum X intends to commission PCAOB-audited financial statements for TraderMade covering at least its two most recent fiscal years, expected to be delivered within 71 days of closing.
Next Steps and Conditions to Closing
The parties intend to negotiate in good faith toward a definitive share purchase and assignment agreement. Given the cross-border nature of the proposed transaction and TraderMade's United Kingdom operations, the parties currently anticipate allowing up to 90 days for financial, legal, tax, technical and commercial due diligence, including review of applicable ownership-transfer, regulatory and third-party requirements, before closing.
Completion of the proposed transaction remains subject to customary closing conditions. These include Quantum X's satisfactory completion of financial, legal, tax, technical, and commercial due diligence; receipt of the independent valuation; the retention of specified key TraderMade personnel; receipt of all necessary regulatory, third-party, and shareholder consents; confirmation of clean title to the shares and receivable; and no material adverse changes occurring in TraderMade prior to closing. There can be no assurance that all conditions will be satisfied or that the transaction will be completed on the terms contemplated.
Related-Party Disclosure
CMH is owned by Emil Assentato. The proposed transaction therefore involves an affiliated party relationship that will be reviewed and disclosed in accordance with applicable securities laws and reporting requirements. The LOI expressly makes completion of the proposed transaction subject to board approval, among other closing conditions.
About TraderMade Systems Ltd.
TraderMade Systems Ltd provides real-time and historical foreign exchange and financial market data, APIs and technology solutions to financial institutions, fintech companies, developers and quantitative research teams. Its market data is used across trading, analytics, research, financial applications and data-driven modelling.
About Quantum X Inc.
Quantum X Inc. (OTC: QUTX), formerly Two Hands Corporation, is a publicly traded company focused on multi-vertical opportunities in quantum technology and artificial intelligence applications. The Company is currently advancing a strategic transition toward quantum-focused opportunities while continuing to evaluate related emerging technology verticals. The Company's common stock trades in the U.S. over-the-counter market under the symbol QUTX.
Forward-Looking Statements
This press release contains forward-looking statements concerning, among other matters, the proposed acquisition of an interest in TraderMade Systems Ltd., the negotiation and execution of definitive agreements, completion of due diligence and an independent valuation, receipt of required approvals and consents, retention of key personnel, completion and results of post-closing audits, the timing and completion of the proposed transaction, and the potential benefits of the transaction.
Forward-looking statements are based on current expectations, estimates and assumptions and are subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks include, among others, the possibility that due diligence or the independent valuation may not support completion of the transaction, required approvals or consents may not be obtained, definitive agreements may not be executed, closing conditions may not be satisfied, the proposed transaction may be modified or terminated, and the anticipated benefits of the proposed transaction may not be realized.
Readers should not place undue reliance on forward-looking statements. Quantum X undertakes no obligation to update any forward-looking statement except as required by applicable law.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
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SOURCE Quantum X Inc
