Business
Luxxfolio Announces Closing of Financing and Appointment of New CEO
Luxxfolio Announces Closing of Financing and Appointment of New
About this update from Luxxfolio Holdings Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 25, 2025) - Luxxfolio Holdings Inc. (CSE: LUXX) (the \"Company\" or \"Luxxfolio\") is pleased to announce it has closed its previously announced non-brokered private placement of common shares in the capital of the Company ( the \"Shares\") for gross proceeds of $1,163,755 by the issuance of 7,758,367 Shares at a price of $0.15 per Share (the \"Financing\").The Company intends to use the proceeds from the Financing to advance its cryptocurrency business strategy as well as for general working capital purposes, and to retire certain current liabilities.In connection with the closing of the Financing, the Company paid a finder's fee of $64,558 in cash and issued 406,119 share purchase warrants (the \"Finder's Warrants\") to certain arm's length finders. Each Finder's Warrant entitles the holder thereof to purchase one Share at a price of $0.15 for a period of 24 months from the date of issuance.Geoff McCord, CFO, commented, \"I am very satisfied that Luxx has turned the corner in such a meaningful way. It is now positioned, with the right focus and people, to grow quickly in an exciting and dynamic market for the crypto industry.\"The Company is also pleased to announce changes to its Board and management team. Geoff McCord has resigned from his position as interim CEO, but will remain as the Company's CFO and a director. In addition, Rodney Stevens has resigned as a director of the Company. The Company thanks Mr. McCord and Mr. Stevens for their service and guidance.Tomek Antoniak has been appointed to the position of Chief Executive Officer and Director, effective March 25, 2025. Mr. Antoniak is an accomplished software developer and technology leader with over a decade of experience building and scaling high-performance digital infrastructure across blockchain, fintech, and enterprise software domains. He has a proven track record of delivering innovative solutions that drive operational efficiency, user growth, and long-term value creation. Mr. Antoniak also brings over five years of experience in the venture capital space, where he evaluated emerging technologies and supported early-stage companies through growth and transformation.As CEO of Luxxfolio, Mr. Antoniak is strategically positioned to guide the company into its next phase of growth. His hands-on experience in bot...