LQWD Technologies (TSX.V: LQWD) (OTCQB: LQWDF), a leading provider of enterprise-grade transaction infrastructure for the Bitcoin Lightning Network, has closed the first tranche of its nonbrokered private placement. According to the announcement, under the fully subscribed first tranche of the placement, LQWD issued 3,200,000 units at $0.70 per unit to raise gross proceeds of $2,240,000. Each unit was comprised of one common share of the company and one common share purchase warrant and is subject to a four-month hold before becoming free trading. A second and final tranche of the placement remains open. That tranche includes up to an additional 1.5 million units at a price of $0.65 per unit. The company anticipates using funds from the private placement for continued expansion, including purchasing Bitcoin and expanding the developer team.
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About LQWD Technologies Corp.
LQWD is a Bitcoin-backed, audited, publicly traded company focused on building the infrastructure to enable instant, low-cost, internet-powered payments. The company is committed to delivering enterprise-ready solutions for open payments at scale using 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://ccw.fm/LQWDF
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