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LQWD Announces Increase to its Non-Brokered Private Placement

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LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) has announced an increase in its non-brokered private placement to raise up to $3,740,000. The first tranche, which closed on October 9, 2024, raised $2,240,000 by issuing 3,200,000 units at $0.70 per unit. A second tranche of up to 2,307,692 units at $0.65 per unit, aiming to raise up to $1,500,000, is expected to close in November 2024.

Each $0.65 unit consists of one common share and half a warrant, with each full warrant exercisable at $0.90 per share within 18 months. The proceeds will be used to expand LQWD's Lightning Network business, including purchasing Bitcoin and expanding the developer team. The private placement is subject to regulatory approvals, including TSX-V acceptance.

LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) ha annunciato un aumento della sua offerta privata senza intermediazione per raccogliere fino a $3.740.000. La prima tranche, che si è chiusa il 9 ottobre 2024, ha raccolto $2.240.000 emettendo 3.200.000 unità a $0,70 per unità. Una seconda tranche, fino a 2.307.692 unità a $0,65 per unità, con l'obiettivo di raccogliere fino a $1.500.000, è prevista per la chiusura a novembre 2024.

Ciascuna unità da $0,65 consiste in un'azione comune e mezzo warrant, con ogni warrant completo esercitabile a $0,90 per azione entro 18 mesi. I proventi saranno utilizzati per espandere il business della rete Lightning di LQWD, inclusi l'acquisto di Bitcoin e l'espansione del team di sviluppatori. L'offerta privata è soggetta ad approvazioni regolamentari, inclusa l'accettazione da parte di TSX-V.

LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) ha anunciado un aumento en su colocación privada no intermediada para recaudar hasta $3,740,000. La primera tranche, que cerró el 9 de octubre de 2024, recaudó $2,240,000 mediante la emisión de 3,200,000 unidades a $0.70 por unidad. Se espera que una segunda tranche de hasta 2,307,692 unidades a $0.65 por unidad, con el objetivo de recaudar hasta $1,500,000, cierre en noviembre de 2024.

Cada unidad de $0.65 consta de una acción común y medio warrant, con cada warrant completo ejercitable a $0.90 por acción en un plazo de 18 meses. Los ingresos se utilizarán para expandir el negocio de Lightning Network de LQWD, incluyendo la compra de Bitcoin y la expansión del equipo de desarrolladores. La colocación privada está sujeta a aprobaciones regulatorias, incluida la aceptación de TSX-V.

LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF)가 중개인 없는 사모 배정을 통해 최대 $3,740,000을 모집할 것이라고 발표했습니다. 첫 번째 트랜치는 2024년 10월 9일에 마감하여, 주당 $0.70에 3,200,000 유닛을 발행하여 $2,240,000을 모집하였습니다. 두 번째 트랜치는 주당 $0.65로 최대 2,307,692 유닛을 모집하여 최대 $1,500,000을 목표로 하며, 2024년 11월에 마감될 예정입니다.

각 $0.65 유닛은 하나의 보통주와 반 개의 워런트로 구성되며, 전체 워런트는 18개월 이내에 주당 $0.90에 행사할 수 있습니다. 수익금은 LQWD의 라이트닝 네트워크 사업 확장에 사용될 예정이며, 비트코인 구매 및 개발자 팀 확장에 포함됩니다. 이 사모 배정은 TSX-V의 승인을 포함한 규제 승인을 받아야 합니다.

LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) a annoncé une augmentation de son placement privé non intermédié pour lever jusqu'à $3,740,000. La première tranche, qui s'est clôturée le 9 octobre 2024, a levé $2,240,000 en émettant 3,200,000 unités à 0,70 $ par unité. Une deuxième tranche de jusqu'à 2,307,692 unités à 0,65 $ par unité, visant à lever jusqu'à 1,500,000 $, devrait se clôturer en novembre 2024.

Chaque unité de 0,65 $ se compose d'une action ordinaire et d'un demi-warrant, chaque warrant complet pouvant être exercé à 0,90 $ par action dans les 18 mois. Les recettes seront utilisées pour développer l'activité de Lightning Network de LQWD, y compris l'achat de Bitcoin et l'expansion de l'équipe de développeurs. Le placement privé est soumis aux approbations réglementaires, y compris l'acceptation par la TSX-V.

LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) hat eine Erhöhung ihrer nicht vermitterten Privatplatzierung angekündigt, um bis zu 3.740.000 US-Dollar zu sammeln. Die erste Tranche, die am 9. Oktober 2024 geschlossen wurde, hat 2.240.000 US-Dollar durch die Ausgabe von 3.200.000 Einheiten zu je 0,70 US-Dollar pro Einheit gesammelt. Eine zweite Tranche von bis zu 2.307.692 Einheiten zu je 0,65 US-Dollar pro Einheit, mit dem Ziel, bis zu 1.500.000 US-Dollar zu erhalten, wird voraussichtlich im November 2024 geschlossen.

Jede Einheit zu 0,65 US-Dollar besteht aus einer Stammaktie und einem halben Warrant, wobei jeder vollständige Warrant innerhalb von 18 Monaten zu 0,90 US-Dollar pro Aktie ausgeübt werden kann. Die Einnahmen werden verwendet, um das Lightning-Netzwerk-Geschäft von LQWD auszubauen, einschließlich dem Kauf von Bitcoin und der Erweiterung des Entwicklerteams. Die Privatplatzierung unterliegt den behördlichen Genehmigungen, einschließlich der Zustimmung der TSX-V.

Positive
  • Successful completion of first tranche raising $2,240,000
  • Potential to raise additional $1,500,000 in second tranche
  • Funds to be used for expanding Lightning Network business and purchasing Bitcoin
Negative
  • Potential dilution of existing shareholders due to new share issuance
  • Warrants subject to acceleration clauses, potentially leading to earlier exercise

VANCOUVER, BC / ACCESSWIRE / October 22, 2024 / LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) ("LQWD" or the "Company") is pleased to announce that due to demand LQWD will increase its previously announced non-brokered private placement to aggregate gross proceeds of up to $3,740,000 (the "Private Placement"), which was previously announced on September 27, 2024, and October 9, 2024.

Under the fully subscribed first tranche of the Private Placement, which closed on October 9, 2024, the Company issued an aggregate of 3,200,000 units of the Company at a price of $0.70 per unit to raise gross proceeds of $2,240,000. A second and final tranche of the Private Placement of up to an additional 2,307,692 units at a price of $0.65 per unit for proceeds of up to $1,500,000, remains open and is expected to close in November 2024.

Each $0.65 unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each full warrant is exercisable into one common share at an exercise price of $0.90 per share at any time up to 18 months following the closing date of the Private Placement.If the volume weighted average trading price of the common shares on the TSX Venture Exchange ("TSXV") is equal to or greater than $1.25 for a period of 20 consecutive trading days, the Company will have the right to accelerate the expiry date of the warrants by giving written notice that the warrants will expire on the date that is not less than 10 days from the date notice is provided by the Company to the warrant holder.

The common shares and warrants from the Private Placement are subject to a 4 month hold period before becoming free trading.

The net proceeds from the Private Placement will be used for, but are not limited to, continuing to expand LQWD's Lightning Network business, which includes purchasing Bitcoin and expanding the developer team in accordance with the Company's business strategy, and for general working capital purposes. Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX-V. It is anticipated that existing shareholders, directors, and management will be participating in the Private Placement. In connection with the Private Placement, the Company may pay a finder's fee of up to 5% on the applicable portion of the Private Placement.

In connection with the $0.70 unit first tranche of the Private Placement, the warrants are also subject to acceleration provisions. If the 30 day volume weighted average trading price of the common shares on the TSX-V is greater than 10% above the applicable exercise price of the warrants and the 30 day average daily volume of the common shares on the TSX-V exceeds 5,000,000 common shares per day, 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, to a period which is 61 days following the date of such notice.

The Company also clarifies that 210K Capital, LP's participation in the first tranche of the Private Placement by purchasing 3,200,000 units for an aggregate subscription price of $2,240,000 did not constitute a "related party transaction" for the Company within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.

About LQWD Technologies Corp.

LQWD Technologies Corp. is a leading provider of institutional-grade liquidity services for the Lightning Network. The Company's mission is to enhance the global adoption of Bitcoin by providing reliable and scalable liquidity solutions that power the Lightning Network. LQWD operates a growing number of Lightning Network nodes worldwide, ensuring efficient and cost-effective Bitcoin transactions for businesses and individuals alike.

For further information:

Ashley Garnot, Director
Phone: 1.604.669.0912
Email: ashley@lqwd.money
Website: www.lqwdtech.com
X: @LQWDTech

Forward-Looking Statements

This 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, considering 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.

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.

This release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

SOURCE: LQWD Technologies



View the original press release on accesswire.com

FAQ

What is the total amount LQWD Technologies Corp. (LQWDF) aims to raise in its private placement?

LQWD Technologies Corp. aims to raise up to $3,740,000 in total through its non-brokered private placement.

When is the second tranche of LQWD Technologies Corp.'s (LQWDF) private placement expected to close?

The second tranche of LQWD Technologies Corp.'s private placement is expected to close in November 2024.

What will LQWD Technologies Corp. (LQWDF) use the proceeds from the private placement for?

The proceeds will be used to expand LQWD's Lightning Network business, including purchasing Bitcoin and expanding the developer team, as well as for general working capital purposes.

What is the exercise price of the warrants in LQWD Technologies Corp.'s (LQWDF) private placement?

The warrants in the second tranche of the private placement are exercisable at $0.90 per share.

LQWD TECHNOLOGIES CORP

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