
18 March 2025
Braveheart Investment Group plc
(the "Company")
Subscription in IQ-AI Ltd Placing
Braveheart Investment Group plc (AIM: BRH) announces the participation in IQ-AI Ltd's ("IQ-AI") placing to raise £250,000 (the "Placing") via the issuance of 25,000,000 new ordinary shares (the "Placing Shares") at a price of £0.01 per share (the "Issue Price"). The Company, an existing shareholder in IQ-AI, has subscribed for 7,000,000 Placing Shares for a consideration of £70,000. On admission of the Placing Shares, the Company will hold 72,415,862 ordinary shares in IQ-AI which represents 29.35% of the issued share capital of IQ-AI as enlarged by the Placing.
IQ-AI, the parent company of Wisconsin-based Imaging Biometrics, LLC (IB), is focused on delivering quantitative imaging platforms and therapeutics that transform how clinicians diagnose and treat patients more efficiently and effectively. IQ-AI's ordinary shares are listed on the main market of the London Stock Exchange.
In the year ended 31 December 2023, IQ-AI made a loss before tax of approximately £0.62 million on revenue of approximately £0.6 million and as at that date had net assets of approximately £0.09 million. As at 30 June 2024, IQ-AI had net assets of approximately £0.43 million.
The Board continues to seek investment opportunities, both within its existing portfolio and from outside. The Braveheart Board considers this investment to be a strategic investment and thus an important addition to the Group's portfolio.
For further information:
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Braveheart Investment Group plc | Tel: 01738 587555 |
Trevor Brown, Chief Executive Officer Viv Hallam, Executive Director | |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) | Tel: 020 3328 5656 |
James Reeve / Ashur Joseph | |
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Peterhouse Capital Limited (Joint Broker) | Tel: 020 7469 0936 |
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