The Company, with LQwD Financial as its wholly owned subsidiary, will now pursue the business as described in the Management Information Circular dated
"This is an exciting day for all of us at LQwD," says Chairman and CEO
Transaction
The Company issued 22,400,001 Shares to the shareholders of LQwD Financial in consideration for the transfer of all of the issued and outstanding common shares in the capital of LQwD to the Company on a 1:1 basis. In addition, all outstanding warrants of LQwD Financial to acquire up to 4,000,000 common shares of LQwD Financial at a price of
Concurrent Financing
In connection with the Transaction, on
The Warrants are subject to the Accelerated Expiry, which may be invoked by the Company if, over a period of ten consecutive trading days following the date of issuance of the Warrants, the volume weighted average trading price of the Shares on the Exchange equals or exceeds
In connection with the Concurrent Financing, the Company paid finder's fees in the amount of
Board and Management
Following closing of the Transaction the directors and officers of the Company are:
Chairman, Director and Chief Executive Officer | |
Chief Financial Officer | |
Chief Technology Officer | |
Corporate Secretary and Director | |
Independent Director | |
Independent Director | |
Independent Director |
Biographies for each of the directors and officers of the Company were included in the Circular. Detailed information about the Transaction and related matters, including financial statements of LQwD Financial, are contained in the Circular.
About LQwD
LQwD is a financial technology company that develops payment network infrastructure and solutions on top of the Lightning Network, a scalable Layer 2 solution built on top of the bitcoin blockchain. Its signature product, Coincurve.com, is an online digital platform for users to buy virtual currencies in a streamlined fashion and enables a simple, safe way to buy and spend virtual currency.
ON BEHALF OF THE BOARD OF LQWD FINTECH CORP.
Chairman, CEO and Director
Forward-Looking Statements
This news 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, in light of 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. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, LQwD Financial, their securities, or their respective financial or operating results (as applicable).
Neither the
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