LiteLink Technologies Announces Closing of C$1 Million Private Placement

Rhea-AI Summary

LiteLink Technologies Inc. announced the completion of a private placement, raising C$1,005,000 through the issuance of 10,050,000 common shares at C$0.10 per share. The funds will support future acquisitions, organic growth, working capital, and general corporate purposes. LiteLink also updated its OTC ticker from LLNKF to LLNKD. Chairman and CEO Peter Green expressed gratitude to shareholders and emphasized using the new resources for growth strategies. All securities are subject to a four-month-and-one-day hold period.

Positive

• Successfully raised C$1,005,000 through a private placement.
• Plans to utilize proceeds for acquisitions and organic growth.

Negative

• None.

VANCOUVER, BC, Feb. 9, 2021 /PRNewswire/ - LiteLink Technologies Inc. ("LiteLink" or "the Company'') (CSE: LLT) (OTC: LLNKD) (FRA: C0B:FF), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that it has completed its previously announced private placement(the "Offering").

The Offering was comprised of 10,050,000 common shares (the "Shares") at a price of C$0.10 for gross proceeds of C$1,005,000.

"We are pleased to have completed this offering and now have additional resources to continue to execute on our sales and growth strategies," said LiteLink Chairman and CEO Peter Green. "We wish to thank all of our shareholders and look forward to our exciting journey ahead."

The proceeds from the Offering will be used by the Company for future acquisitions and organic growth investments, including operations by subsidiaries and/or portfolio companies, working capital, and general corporate purposes.

All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. A total of C$11,400 in fees was paid to brokers assisting in the close of Offering.

The Company also announced a change to its OTC ticker, from LLNKF to LLNKD.

About LiteLink Technologies Inc.
LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKD) (FRA: C0B:FF) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information.  Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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SOURCE LiteLink Technologies Inc.

FAQ

What was the outcome of LiteLink Technologies' recent private placement?

LiteLink Technologies completed a private placement, raising C$1,005,000 by issuing 10,050,000 common shares at C$0.10 each.

What will LiteLink Technologies do with the proceeds from its private placement?

The proceeds will be used for future acquisitions, organic growth, working capital, and general corporate purposes.

What is the new OTC ticker for LiteLink Technologies?

LiteLink Technologies' new OTC ticker is LLNKD, having changed from LLNKF.

How many shares were issued in the recent private placement by LiteLink Technologies?

LiteLink Technologies issued 10,050,000 common shares in the private placement.

What did LiteLink Technologies' CEO say about the private placement?

CEO Peter Green expressed satisfaction with the completion of the offering and the company's growth strategies.