LQWD Technologies Corp. (TSX-V:LQWD, OTCQB:LQWDF) announced that it intends to carry out a non-brokered private placement for gross proceeds of up to $650,000, which will be used to expand its Lightning Network business and for general working capital purposes.
The company intends to offer up to 1,625,000 units at a price of $0.40 per unit.
Each unit will comprise one share of the company and one share purchase warrant entitling the holder to purchase a share at a price of $0.60 at any time for up to 24 months from the private placement’s closing date.
The company said it will not pay finder’s fees in connection with the private placement.
LQWD is a Lightning Network Liquidity Provider focused on developing payment infrastructure and solutions accelerating the global megatrend of Bitcoin adoption through the Lightning Network.