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LQwD Fintech Corp. Closes Upsized Non-Brokered Private Placement
LQwD Fintech Corp. Closes Upsized Non-Brokered Private Placement Canada NewsWire ...
About this update from Lqwd Technologies Corp
[{"type":"text","content":"\n \n \n \n LQwD Fintech Corp. Closes Upsized Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 8, 2023\n \n \n /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\n \n $750,000\n \n , which has been upsized to\n \n $882,000\n \n (the \"Private Placement\"), originally announced on\n \n \n May 2, 2023\n \n \n .\n \n \n Under the Private Placement, LQwD has issued an aggregate of 1,356,846 units of the Company (each a \"Unit\") at a price of\n \n $0.65\n \n per Unit for aggregate gross proceeds of\n \n $882,000\n \n . Each Unit is comprised of 1 common share of the Company and 1 common share purchase warrant, with each warrant being exercisable for 1 common share at an exercise price of\n \n $0.85\n \n per common share at any time up to 24 months following the closing date of the Private Placement, with each warrant being subject to acceleration in certain circumstances. If the 10 day volume-weighted average trading price of the common shares is greater than\n \n $1.25\n \n , then the Company may provide notice in writing to the holders of the warrants that the expiry date of the warrants will be accelerated in whole or in part, which is at the sole discretion of the Company's board of directors.The common shares and warrants issued pursuant to the Private Placement, as well as the common shares issuable upon exercise of the warrants, if any, are subject to a statutory hold period of 4 months and a day ending on\n \n October 9\n \n 2023, in accordance with applicable securities law.\n \n \n The net proceeds from the Private Placement will be used, but are not limited to, continuing to expand LQwD's Lightning Network business and general working capital purposes.\n \n \n In connection with the Private Placement, the Company paid a cash finder's fee in the amount of\n \n $2,275\n \n , which was equal to 5% of the gross proceeds raised by purchasers int...