/NOT FOR DISTRIBUTION TO
Pursuant to the Offering, the Company intends to issue 17,143,000 Units at a price of
The Company has granted the underwriters an option (the "Over-Allotment Option"), exercisable at any time for a period of 30 days after and including the closing of the Offering, to purchase up to an additional 2,571,450 Units on the same terms and conditions of the Offering. The Over-Allotment Option may be exercisable to acquire Units, Common Shares and/or Warrants (or any combination thereof) at the discretion of the underwriters.
The Units will be offered in each of the provinces and territories of
The net proceeds from the Offering will be used to acquire Bitcoin and for general corporate and working capital purposes.
In consideration for their services, the Company will pay the Underwriters a cash fee equal to 7.0% of the aggregate gross proceeds of the Offering. The Underwriters will also be granted such number of compensation warrants (each, a "Compensation Warrant") as is equal to 7.0% of the aggregate number of Units issued pursuant to the Offering. Each Compensation Warrant will be exercisable to acquire one common share of the
The Company has applied to list the Common Shares, Warrant Shares and Compensation Warrant Shares issuable pursuant to the Offering on the TSXV. Copies of the Prospectus, following filing thereof, can be obtained on SEDAR at www.sedar.com and from
No securities regulatory authority has either approved or disapproved of the contents of this press release. The Units, Common Shares, Warrants and Warrant Shares have not been and will not be registered under the
About LQwD
LQwD is a Lightning Network Service Provider (LSP) focused company developing payment infrastructure and solutions. 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 as an operating asset establishing nodes and payment channels across the Lightning Network.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding to the Offering generally, the use of the net proceeds thereof, the exercise of the Over-Allotment Option and the satisfaction of the conditions of the closing of the Offering, including the receipt, in a timely manner, of required approvals) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. 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.
Neither the
SOURCE
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