LQWD Announces Update to Private Placement

Rhea-AI Summary

LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) has received an extension from the TSX Venture Exchange to close its non-brokered private placement of up to 1.5 million units at CDN$0.65 per unit, aiming to raise up to CDN$975,000. The closing is now expected around October 7, 2024, subject to regulatory approvals. The company also highlights the growth of the Bitcoin Lightning Network, reporting a 1,200% increase in network activity over the past two years. The Lightning Network's recent integration of stablecoin capabilities and adoption by major cryptocurrency exchanges are noted as significant developments in the fast-growing payment layer.

Positive

• Extension granted for private placement closing, potentially securing up to CDN$975,000 in funding
• Bitcoin Lightning Network, a key focus area, reported 1,200% growth in network activity over two years
• Lightning Network's integration of stablecoin capabilities may expand its user base

Negative

• Delay in closing the private placement may indicate challenges in securing investors
• The private placement is still subject to regulatory approvals, introducing uncertainty

VANCOUVER, BC / ACCESSWIRE / September 9, 2024 / LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF), announces that, further to its news release dated July 22, 2024, it has received an extension from the TSX Venture Exchange ("TSX-V") to close its non-brokered private placement of up to 1.5 million units of the Company ("Units") at a price of CDN$0.65 per Unit for aggregate gross proceeds of up to CDN$975,000 (the "Private Placement").

The Private Placement is expected to close on or about October 7, 2024, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX-V. All terms of the Private Placement remain the same.

More About Lightning Network

Bitcoin Lightning Network is a payment layer for the internet. Lightning Network leverages the power of Bitcoin's supreme trust protocol, which facilitates instant peer-to-peer transactions faster than any other payment rail. It is reported that network activity has increased by 1,200% over the past two years with major participants such as MicroStrategy (MSTR) driving adoption with enterprise grade Lightning Network tools for business, taking advantage of the unmatched capability of the network.

Most recently, Lightning Network announced the integration of stable coin transaction capability, which opens the network to a much wider user base. Furthermore, many of the world's top cryptocurrency exchanges are integrating Lightning Network into their platforms as well as forward-thinking global business as Lightning Network transacts dramatically faster and cheaper than ant current payment rails such as Visa and Mastercard.

About LQWD Technologies

The internet lacks a protocol for money. LQWD is building the infrastructure, to make instant, low cost, internet-powered payments happen. We are building enterprise-ready infrastructure for open payments for the Internet at scale, using the Lightning Network. LQWD is a Bitcoin backed, audited publicly traded company. Our shares trade on the TSX Venture Market, trading symbol: LQWD, and in the United States OTC: LQWDF.

Visit lqwdtech.com for further information.

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 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, 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 press 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 new closing date for LQWD Technologies Corp's (LQWDF) private placement?

The private placement is expected to close on or about October 7, 2024, following an extension granted by the TSX Venture Exchange.

How much is LQWD Technologies Corp (LQWDF) aiming to raise through its private placement?

LQWD Technologies Corp is aiming to raise up to CDN$975,000 through the private placement of up to 1.5 million units at CDN$0.65 per unit.

What recent development in the Bitcoin Lightning Network could expand its user base?

The Bitcoin Lightning Network recently announced the integration of stablecoin transaction capability, which could potentially open the network to a much wider user base.

How much has the Bitcoin Lightning Network's activity increased in the past two years?

According to the press release, the Bitcoin Lightning Network's activity has increased by 1,200% over the past two years.