Lqwd arranges $2-million private placement

Executive Summary

• Lqwd Technologies Corp. announced a non-brokered private placement of up to 2 million units at $1.00 per unit, raising up to $2 million in gross proceeds.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $1.25 per share for 24 months.
• Net proceeds are designated for additional Bitcoin purchases to deploy across Lqwd's Lightning network infrastructure and for general working capital.

Key Details

• Transaction Structure: Non-brokered private placement of up to 2,000,000 units.
• Price: $1.00 per unit.
• Gross Proceeds: Up to $2,000,000.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercisable into one common share per warrant.
  • Exercise price: $1.25 per share.
  • Expiry: 24 months following the closing date.
  • Acceleration Clause: If the volume-weighted average trading price on the TSX Venture Exchange is $\ge$ $2.00 for 10 consecutive trading days, the company may accelerate warrant expiry with at least 10 days' notice.
• Hold Period: Four-month hold period for shares and warrants before they become free trading.
• Use of Proceeds: Additional Bitcoin purchases for deployment across Lqwd's Lightning network global infrastructure and general working capital.
• Participants: Existing shareholders, directors, and management are anticipated to participate.
• Conditions Precedent: Receipt of necessary regulatory approvals, including TSX-V acceptance.
• Fees: The company may pay a finder's fee on the applicable portion of the placement.

Notable Quotes

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