VANCOUVER, BC / ACCESSWIRE / July 22, 2024 / LQWD Technologies Corp. ("LQWD" or the "Company"), (TSXV:LQWD)(OTCQB:LQWDF) announces that it intends to complete a non-brokered private placement of up to 1.5 million units of the Company ("Units") at a price of $0.65 per Unit for aggregate gross proceeds of up to CDN$975,000. (the "Private Placement").
Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each full warrant is exercisable into one common share at an exercise price of $0.90 per share at any time up to 18 months following the closing date of the private placement. The shares and warrants from this placement are subject to a 4 month hold period before becoming free trading.
If the volume weighted average trading price of the common shares on the TSX Venture Exchange ("TSXV") is equal to or greater than $1.25 for a period of 20 consecutive trading days, the Company will have the right to accelerate the expiry date of the warrants by giving written notice that the warrants will expire on the date that is not less than 10 days from the date notice is provided by the Company to the warrant holder.
The net proceeds from the Private Placement will be used for, but are not limited to, continuing to expand LQWD's Lightning Network business and general working capital purposes.
Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSXV. It is anticipated that existing shareholders, directors, and management will be participating in this placement. In connection with the Private Placement, the Company may pay a finder's fee of up to 5% on the applicable portion of the Private Placement.
About LQWD Technologies Corp.
The internet lacks a protocol for money. LQWD is developing Lightning infrastructure to make instant, low cost, internet-powered payments happen. Our enterprise grade, globally placed infrastructure facilitates open payments at scale, using the Lightning Network. LQWD is a bitcoin backed, Canadian audited publicly traded company. Our shares trade on the TSX Venture Market, trading symbol:LQWD, and in the United States OTC:LQWDF. Visit lqwdtech.com for further information.
About Lightning Network
Lightning Network is a payment layer for the internet. Lightning leverages the power of Bitcoin's supreme trust protocol, which facilitates instant peer-to-peer transaction dramatically cheaper and faster than any other existing payment rail. It is reported that Lightning activity has increased by 1,200% over the past two years with leading participants such as MicroStrategy ( MSTR ) and a growing global eco-system of new generation technology companies driving adoption, taking advantage of the unmatched capability of the network.
For further information:
Ashley Garnot, Director
Phone: 1.604.669.0912
Email: ashley@lqwd.money
Website: www.lqwdtech.com
X: @LQWDTech
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.
SOURCE: LQWD Technologies Corp.
View the original press release on accesswire.com
