QUARTERHILL INC - QTRHF STOCK NEWS

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announced participation in the Raymond James Technology Investors Conference from December 6-8, 2021. CEO Paul Hill and CFO John Rim will represent the company in a virtual format. Interested parties can schedule one-on-one meetings through their Raymond James representatives. Quarterhill focuses on growth in the Intelligent Transportation System (ITS) sector and leads in Intellectual Property licensing via its subsidiary, Wi-LAN Inc. More information is available at www.quarterhill.com.

On November 23, 2021, Wi-LAN Inc., a subsidiary of Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF), announced the acquisition of a patent portfolio from a leading publicly-traded semiconductor technology company. The patents pertain to wired connectivity, focusing on various USB-C technologies applicable in desktop computers, laptops, tablets, mobile phones, gaming consoles, and smart TVs. Specific terms of the transaction remain confidential, indicating a strategic move to enhance Wi-LAN's intellectual property assets in high-demand tech sectors.

Quarterhill Inc. (QTRHF) reported Q3 2021 revenues of $36.3 million, down from $88.0 million in Q3 2020. Adjusted EBITDA for Q3 2021 was $7.6 million, a decline from $39.0 million in the prior year. The company completed the acquisition of Electronic Transaction Consultants (ETC) and has a working capital of $60.0 million as of September 30, 2021. Cash and equivalents stood at $37.0 million, down from $141.3 million at the end of 2020. The Board declared a quarterly dividend of $0.0125 per share payable January 10, 2022.

Quarterhill completed a successful offering of 6.00% convertible unsecured subordinated debentures, raising $57.5 million in gross proceeds. The offering, priced at $1,000 per debenture, involved a syndicate of underwriters led by Raymond James Ltd. Net proceeds will support growth through potential acquisitions and enhance working capital. The debentures are set to be listed on the TSX under the symbol QTRH.DB. This strategic funding aims to position Quarterhill as a global leader in the Intelligent Transportation System industry.

Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF) will release its financial results for Q3 2021 on November 10, 2021. The results will cover the three- and nine-month periods ending September 30, 2021. CEO Paul Hill and CFO John Rim will host a conference call and audio webcast at 10:00 a.m. ET on the same day. Investors can access the live audio webcast through the provided link and dial in using the listed phone numbers. The webcast will be available for replay for a year following the event.

International Road Dynamics Inc., a subsidiary of Quarterhill, has secured a $2.0 million contract from the Hawaii Department of Transportation to implement a Weigh-In-Motion system and tire safety screening at Kapalama, Oahu. This installation is notable as it introduces Hawaii's first tire safety screening system, aimed at enhancing highway safety and monitoring container traffic. The project includes advanced technology such as an overview camera and a tire anomaly classification system, ensuring compliance with weight restrictions and promoting road safety.

Quarterhill has filed a preliminary short form base shelf prospectus with Canadian securities commissions, allowing the issuance of up to $200,000,000 in securities, including common shares and debt, over 25 months. This prospectus will enable the company to respond to market conditions for future capital needs. However, there are no guarantees regarding the actual offering or sale of these securities. The company continues its strategy in the Intelligent Transportation System industry and intellectual property licensing.

On October 1, 2021, Wi-LAN, a subsidiary of Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF), announced a licensing agreement with Motorola Mobility LLC. This agreement pertains to patents related to wireless technology, although specific terms remain confidential. Wi-LAN specializes in patent monetization across various markets, including automotive and wireless communications, while Quarterhill focuses on growth within the Intelligent Transportation System industry.

International Road Dynamics (IRD), a subsidiary of Quarterhill (QTRHF), has secured a $2.2 million contract from the Idaho Transportation Department to implement a Weigh-In-Motion and Electronic Pre-Clearance system at the Declo Port of Entry. This new system aims to enhance safety and efficiency, allowing compliant vehicles to bypass weigh stations, thereby reducing congestion and greenhouse gas emissions. The integration of advanced technologies will help identify high-risk vehicles and contribute to improved road safety.