Archer Exploration Fills Coffers for Quantum Computer Chip Research and Development
Sugarloaf land sale completed
~ Completion of sale of Sugarloaf farm land.
~ Archer has received $1.35 million cash from purchasers.
~ After receipt of funds, Archer has over $2.0 million in cash and is well funded to develop its Advanced Materials and Exploration businesses.
Finalisation of the sale of the Sugarloaf farm land leaves Archer in a very strong cash position and well placed to continue the development of the 12CQ Project that aims to commercialise a world-first quantum computing processor chip technology.
+ Archer Exploration Limited (ASX:AXE) announced that the company, through its wholly-owned subsidiary Archer Pastoral Company Pty Ltd, has completed the sale of the Sugarloaf farm land located on the Eyre Peninsula. At completion, Archer received a payment of $1.35 million resulting in the Company having over $2.0 million cash in bank to fund its work programs.
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