LQwD Fintech (TSX.V: LQWD) (OTC: LQWDF), a Bitcoin lightning network service provider, has closed on a nonbrokered private placement financing of $882,000; the company announced the financing, which was originally anticipated to be $750,000, in early May 2023. The private placement included LQwD issuing 1,356,846 units of the company, which were sold at $0.65 per unit. Each unit was comprised of one common share and one common share purchase warrant, with each warrant being exercisable for one common share at an exercise price of $0.85 per common share at any time up to 24 months following the closing date of the placement. According to the announcement, the common shares and warrants that were issued are subject to a four-month-plus-one-day statutory hold period. The company plans on using at least portions of the proceeds from the placement to expand its Lightning Network business and for general working capital purposes. The announcement also noted that LQwD CEO and director Shone Anstey holds 10.09% of the common shares of the company on a partially diluted basis.
To view the full press release, visit https://ibn.fm/pFwXu
About LQwD Fintech Corp.
LQwD is a Lightning Network service provider (“LSP”) focused on developing payment infrastructure and solutions accelerating the global megatrend of Bitcoin adoption through the Lightning Network. 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 that is used as an operating asset establishing nodes and payment channels on the Lightning Network. For more information, please visit www.LQwDFintech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF
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