VANCOUVER, BC , April 26, 2023 /CNW/ – LQwD Fintech Corp . (TSXV:LQWD) (OTC:LQWDF) is pleased to announce that it has closed its previously announced non-brokered private placement financing of $300,000 (the “Private Placement”), originally announced on April 5, 2022.
Under the private placement, LQwD has issued a total of 468,750 units of the company (each a “Unit”) at a price of $0.64 per unit for aggregate gross proceeds of $300,000. Each unit consists of 1 common share of the company and 1 warrant for common stock, with each warrant exercisable for 1 common share at an exercise price of $0.85 per common share at any time up to 36 months after the closing date of the private placement. Placement. The ordinary shares and subscription rights issued pursuant to the private placement, as well as the ordinary shares that may be issued upon exercise of the subscription rights, if any, are subject to a statutory holding period of 4 months and one day ending on 27 August 2023, in accordance with applicable securities legislation.
The net proceeds from the Private Placement will be used, but are not limited to, to continue to expand LQwD’s Lightning Network business and general working capital purposes.
ENTER TO WIN $500 IN STOCKS OR CRYPTO
Enter your email and you’ll also receive Benzinga’s ultimate morning update AND a free gift card of $30 and more!
The company did not pay finder’s fees in connection with the private placement.
Alex Guidi is an insider in the company, as a non-executive director of the company, and owns 9.34% of ordinary shares in the company on a partially diluted basis.
Options 101: The Beginner’s Guide
Want to become an options master? In his free reportoptions expert Nic Chahine will give you access to four bulletproof tips for beginnersthe secret to achieved 511% gain with options, and his time-tested “plan” for success. Grab your free copy of Options 101: The Beginner’s Guide ASAP.
Guidi participated in the private placement by purchasing 468,750 units for an aggregate subscription price of $300,000, and accordingly the private placement constitutes a “related party transaction” for the Company within the meaning of Multilateral Instrument 61-101 – Protection of minority security holders in special transactions (“MI 61-101”). The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval pursuant to MI 61-101, as the fair market value of Guidi’s participation in the private placement does not exceed more than 25% of the market value of the company, as set forth in section 5.5 (a) and 5.7(1)(a) of MI 61-101.
Website: www.lqwdfintech.com
Twitter: @LQWDFintech
Forward-looking statements
This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook for the Company’s industry. Although the Company believes, taking into account the experience of its officers and directors, current conditions and expected future developments and other factors that have been deemed appropriate, that the expectations reflected in this forward-looking information are reasonable, they should not be relied upon. because the company cannot give any guarantee that they will prove to be correct. Actual results and developments may differ materially from those contemplated in these statements. The statements in this press release are made as of the date of this press release, and the Company undertakes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSXV nor its regulatory services provider (as that term is defined in the policies of the TSXV) 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 Shares, nor shall there be any sale of the Shares in any jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification. under the securities laws of such jurisdiction. The units 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 in the United States or to, or for the account or benefit of, a United States person.
SOURCE LQwD FinTech Corp.
