LQwD Files Preliminary Base Shelf Prospectus

Rhea-AI Summary

LQwD Fintech Corp. has filed a preliminary short form base shelf prospectus across Canadian provinces (excluding Quebec) to offer up to $50 million in various securities over a 25-month period. This initiative aims to enhance financial flexibility as the company further develops its Lightning Network infrastructure, though it currently has no plans to proceed with an offering. The securities will not be registered under U.S. Securities Act and cannot be sold in the U.S. without proper registration or exemption.

Positive

• Filed a base shelf prospectus for up to $50 million in securities, enhancing financial flexibility.
• Focus on developing payment infrastructure for the rapidly growing Lightning Network.

Negative

• No immediate intentions to undertake an offering, potentially limiting cash infusion.
• Securities not registered under U.S. laws may hinder access to a larger market.

VANCOUVER, BC, July 27, 2021 /PRNewswire/ - Lightning Network focused company, LQwD Fintech Corp. (TSXV: LQWD) (OTC: LQWDF) is pleased to announce that it has filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada, except Quebec.

The base shelf prospectus (the "Shelf Prospectus") has not yet become final for the purpose of the sale of any Securities (as defined herein). When final, the Shelf Prospectus will allow LQwD to offer and issue up to $50 million of common shares, warrants, subscription receipts, units, debt securities, or any combination of such securities (collectively, the "Securities") during the 25-month period that the Shelf Prospectus is effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale, which will be set forth in a prospectus supplement to be filed.

The Company is filing this Shelf Prospectus to maintain financial flexibility as it advances the development of the Lightning Network but has no immediate intentions to undertake an offering.

The Securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful.

A copy of the Shelf Prospectus is available on SEDAR (www.sedar.com).

About the Lightning Network

The Lightning Network is a solution to mass scaling the usage of Bitcoin for microtransactions globally, dramatically improving upon fees, as well as instant settlement times. The Lightning Network has experienced explosive growth in the past 90-days with node growth doubling and Lightning Network BTC capacity increasing 51.74%.  Some well-known companies such as Jack Dorsey's Twitter and Square have expressed their enthusiasm to incorporate Lightning Network into their platforms.

About LQwD Fintech Corp.

LQwD is a Lightning Network focused company developing payment infrastructure and solutions. The Company's mission is to develop institutional grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility and scaling Bitcoin. LQwD also holds Bitcoin as an operating asset establishing nodes and payment channels across the Lightning Network.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, LQwD, their securities, or their respective financial or operating results (as applicable).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View original content:https://www.prnewswire.com/news-releases/lqwd-files-preliminary-base-shelf-prospectus-301342029.html

SOURCE LQwD FinTech Corp.

FAQ

What is LQwD's recent filing related to?

LQwD Fintech Corp. filed a preliminary base shelf prospectus to offer up to $50 million in various securities.

How long will the base shelf prospectus be effective?

The base shelf prospectus will be effective for 25 months.

What is the purpose of the base shelf prospectus?

It allows LQwD to maintain financial flexibility as it develops its Lightning Network infrastructure.

What are the types of securities LQwD may offer?

The company can issue common shares, warrants, subscription receipts, units, and debt securities.

Is there an immediate offering planned by LQwD?

No, LQwD currently has no intentions to undertake an offering.

Can LQwD's securities be sold in the U.S.?

No, they have not been registered under U.S. securities law and cannot be sold there without registration or exemption.