Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 252

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 252
---
 a prospectus or similar document with any securities regulatory authority
in Canada qualifying the resale of the securities to the public in any province or territory in Canada.

Representations of Purchasers

A Canadian purchaser will be required to represent
to us and the dealer from whom the purchase confirmation is received that:

| ● | the purchaser is entitled under applicable                                                                                       
 provincial securities laws to purchase our securities without the benefit of a prospectus qualified under those securities laws; |

| ● | where required by law, that the purchaser    
 is purchasing as principal and not as agent; |

| ● | the purchaser has reviewed the text  
 above under Resale Restrictions; and |

| ● | the purchaser acknowledges and consents                                                                                                 
 to the provision of specified information concerning its purchase of our securities to the regulatory authority that by law is entitled 
 to collect the information.                                                                                                             |

Rights of Action — Ontario Purchasers Only

Under Ontario securities legislation, certain purchasers
who purchase a security offered by this prospectus during the period of distribution will have a statutory right of action for damages,
or while still the owner of our securities, for rescission against us in the event that this prospectus contains a misrepresentation
without regard to whether the purchaser relied on the misrepresentation. The right of action for damages is exercisable not later than
the earlier of 180 days from the date the purchaser first had knowledge of the facts giving rise to the cause of action and three years
from the date on which payment is made for our securities. The right of action for rescission is exercisable not later than 180 days
from the date on which payment is made for our securities. If a purchaser elects to exercise the right of action for rescission, the
purchaser will have no right of action for damages against us. In no case will the amount recoverable in any action exceed the price
at which our securities were offered to the purchaser and if the purchaser is shown to have purchased the securities with knowledge of
the misrepresentation, we will have no liability. In the case of an action for damages, we will not be liable for all or any portion
of the damages that are proven to not represent the depreciation in value of our securities as a result of the misrepresentation relied
upon. These rights are in addition to, and without derogation from, any other rights or remedies available at law to an Ontario purchaser.
The foregoing is a summary of the rights available to an Ontario purchaser. Ontario purchasers should refer to the complete text of the