Mr. Tomek Antoniak reports
LUXXFOLIO ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT
Luxxfolio Holdings Inc. has closed the second and final tranche of the previously announced non-brokered private placement of units in the capital of the company through the issuance of a further 1.43 million units at a price of 17 cents per unit, for gross proceeds of $243,100.
In total, through the financing, the company raised $1,029,180 and issued 6,054,000 units.
Each unit consists of one common share of the company and one share purchase warrant. Each warrant entitles the holder thereof to purchase an additional share at an exercise price of 35 cents per warrant share for a period of 24 months from the closing of the offering.
The company paid a further $17,017 in cash finders' fees and issued 100,100 share purchase warrants in connection with the second tranche of the financing. The finders' warrants entitle the holder to purchase one share at a price of 35 cents for a period of 24 months from the date of issuance. In connection with both tranches of the financing, the company paid an aggregate of $70,363 in cash finders' fees and issued an aggregate of 413,896 finders' warrants.
Completion of the offering is subject to customary conditions and the receipt of all necessary approvals. The company intends to use the net proceeds of the second tranche for general working capital and development of its litecoin and stablecoin projects.
About Luxxfolio Holdings Inc.
Luxxfolio is a digital infrastructure and technology company focused on enabling the next generation of crypto-powered commerce. The company is actively developing and investing in on-chain technologies that support real-world cryptocurrency use cases, including stablecoin payments, merchant processing and self-custody wallets. Luxxfolio has adopted a litecoin treasury strategy as part of its long-term vision. With a foundation in decentralized systems and digital assets, Luxxfolio aims to help accelerate the mainstream adoption of crypto for everyday payments.
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