LQwD FinTech Corp has announced the appointment of Alex Guidi as the company’s newest independent director.
LQwD said Guidi is an experienced public company executive, investor, and successful venture capitalist, having founded, and was principal shareholder in, a group of highly successful senior board-listed companies, known as the IREMCO Group of Companies.
The company noted that its board of directors now consists of Shone Anstey, Ashley Garnot, Pino Perone, Kim Evans and Alex Guidi.
As well, LQwD reported that it will complete a non-brokered private placement of 468,750 LQwD FinTech units, at a price of $0.64 per unit, for gross proceeds of $300,000, which will be fully subscribed by Guidi.
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It added that net proceeds from the offering are intended to be used, but are not limited to, continuing to expand LQwD's Lightning Network business and general working capital purposes.
Each unit will consist of one company common share plus one common share purchase warrant, with each warrant exercisable for one LQwD common share, at an exercise price of $0.85 per share, at any time up to 36 months following the closing date of the private placement.
No finder's fees will be paid In connection with the private placement, the company said.
LQwD is a Lightning Network service provider focused on developing payment infrastructure and solutions accelerating the global megatrend of Bitcoin adoption through the Lightning Network.
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