LQWD Announces CDN$3 Million Non-Brokered Private Placement

Rhea-AI Summary

LQWD Technologies announces a non-brokered private placement to raise up to CDN$3 million through the issuance of 2 million units at CDN$1.50 per unit. Each unit includes one common share and half a warrant, with each full warrant exercisable at CDN$2.00 per share within 18 months. The company has an acceleration clause if shares trade at CDN$2.50 for 20 consecutive days. Proceeds will fund Lightning Network business expansion, Bitcoin purchases, and working capital. The placement requires TSXV approval and may include a 5% finder's fee.

Positive

• Raising up to CDN$3 million in new capital
• Funds allocated for Lightning Network expansion and Bitcoin purchases
• Management and directors participating in placement indicates insider confidence

Negative

• Potential dilution for existing shareholders
• 5% finder's fee reduces net proceeds
• 4-month hold period restricts immediate trading

Vancouver, British Columbia--(Newsfile Corp. - November 15, 2024) - LQWD Technologies Corp. (TSXV: LQWD) (OTCQB: LQWDF) ("LQWD" or the "Company"), announces that it intends to complete a non-brokered private placement of up to 2,000,000 units of the Company ("Units") at a price of CDN$1.50 per Unit for aggregate gross proceeds of up to CDN$3,000,000 (the "Private Placement").

Each 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 CDN$2.00 per share at any time up to 18 months following the closing date of the private placement. The shares and warrants from the Private Placement are subject to a 4 month hold period before becoming free trading.

If the volume weighted average trading price of the common shares on the TSX Venture Exchange ("TSXV") is equal to or greater than CDN$2.50 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 net proceeds from the Private Placement will be used for, but are not limited to, continuing to expand LQWD's Lightning Network business, additional Bitcoin purchases, and 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 TSXV. It is anticipated that existing shareholders, directors, and management will be participating in this 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.

About LQWD Technologies Corp.

LQWD Technologies Corp. is a Canadian-based, publicly traded company committed to expanding Lightning Network transaction infrastructure to enable instant, low-cost, internet-powered payments. The Company provides scalable solutions for the open payments market, delivering enterprise-grade infrastructure to support the rapid growth of the Bitcoin Lightning Network.

For more information, contact:

Ashley Garnot, Director
Phone: 1.604.669.0912
Email: ashley@lqwdtech.com
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230084

FAQ

What is the price per unit in LQWD's (LQWDF) private placement?

LQWD Technologies is offering units at CDN$1.50 per unit in their private placement.

How much is LQWD (LQWDF) planning to raise in their November 2024 private placement?

LQWD Technologies aims to raise up to CDN$3 million through their non-brokered private placement.

What is the warrant exercise price for LQWD's (LQWDF) private placement?

The warrants are exercisable at CDN$2.00 per share for up to 18 months after the closing date.

How will LQWD (LQWDF) use the proceeds from their private placement?

The proceeds will be used for expanding their Lightning Network business, purchasing Bitcoin, and general working capital purposes.