TORONTO and NEW YORK, Dec. 01, 2023 (GLOBE NEWSWIRE) -- QuantGate Systems Inc. (OTCQB: QGSI) (the "QuantGate" or "Company"), a leading innovator in Artificial Intelligence ("AI"), Machine Learning ("ML") and SaaS-based Fintech solutions, today provides an important update on its financing announced on October 24, 2023, and the progress made amidst a turbulent market landscape.

Since the announcement of its recent financing, QuantGate Systems Inc. has made significant strides in its operations and strategic initiatives. Despite the challenging environment characterized by problematic market conditions, including difficulties in listings, financing, and IPOs, the company has maintained its commitment to growth and innovation.

Allan Bezanson, CEO of QuantGate Systems Inc., states: "Despite the headwinds in the market, we are steadfast in our pursuit of excellence and delivering value to our stakeholders. We are committed to the current financing but might have to adjust certain terms and pricing of the offering dictated by market conditions. There are no certainties that the financing will be completed. However, we are in advanced discussions with numerous individuals and entities. As such, we are providing guidance based on disclosures in our most recent financial statements."

The current market scenario presents unique challenges, with many companies grappling with the complexities of listings and financing.

Additionally, QuantGate Systems Inc. announces that Pramen Prasad has tendered his resignation from the company, effective immediately. The Board of Directors expresses its sincere gratitude to Mr. Prasad for his support and professionalism during his tenure.

About QuantGate Systems Inc.:  

QuantGate Systems Inc. (OTCQB: QGSI) is a publicly-traded fintech company that harnesses the power of Artificial Intelligence (AI), Machine Learning (ML), and proprietary big-data processing AI engines to deliver advanced SaaS solutions and seamless API integration. With its range of products, including Pilot Trading, QuantGate empowers traders globally with a comprehensive suite of real-time insights with cutting-edge SaaS solutions, enabling them to navigate the market with unparalleled confidence.
  
For additional information, visit QuantGate Systems and Pilot Trading or follow them on Twitter (X), Facebook, LinkedIn, Discord and Instagram.   

Forward-Looking Statements Disclaimer and Reader Advisory:   
  
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events. QuantGate Systems Inc. does not undertake any obligation to update forward-looking statements and cautions investors to consider all other risks and uncertainties, including those disclosed in QuantGate filings with the United States Securities and Exchange Commission.