Business
LQWD Announces CDN$2.1 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - LQWD Technologies Corp. (TSXV:...
About this update from Lqwd Technologies Corp
[{"type":"text","content":"LQWD Announces CDN$2.1 Million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - LQWD Technologies Corp. (TSXV: LQWD) (OTCQB: LQWDF) (\"LQWD\" or the \"Company\") announces that it intends to complete a non-brokered private placement of up to 1,200,000 units of the Company (\"Units\") at a price of CDN$1.75 per Unit for aggregate gross proceeds of up to CDN$2,100,000 (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 CDN$2.25 per share at any time up to 18 months following the closing date of the Private Placement. The shares and warrants from the Private 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 CDN$2.75 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, additional Bitcoin purchases, 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.LQWD is a Canadian-based, publicly traded company focused on enhancing shareholder value through its Bitcoin accumulation strategy and yield generation opportunities through the Company's Lightning Network transaction infrastructure and liquidity-on-demand services. By leveraging highly scalable enterprise-grade infrastructure, LQWD supports the rapid growth of the Lightning Network and delivers scalable solu...