LUXXFOLIO announces $1 million private placement for Litecoin mining

LUXXFOLIO Holdings Inc. (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH0) announced a non-brokered private placement offering of up to 5,882,352 units at $0.17 per unit for gross proceeds of up to $1 million.

Each unit consists of one common share and one share purchase warrant. The warrants allow holders to purchase additional shares at $0.35 per warrant share for 24 months from the closing date.

The Vancouver-based company stated it intends to use net proceeds for general working capital and development of its Litecoin mining initiatives. The offering remains subject to customary conditions and regulatory approvals, including those from the Canadian Securities Exchange.

LUXXFOLIO may pay finder's fees in connection with the offering in accordance with applicable securities laws and exchange policies. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

The company describes itself as a digital infrastructure and technology company focused on crypto-powered commerce, developing on-chain technologies for stablecoin payments, merchant processing, and self-custody wallets. LUXXFOLIO has adopted a Litecoin treasury strategy as part of its business approach.

You May Also Be Interested In

• Golden Spike Resources plans name change, share consolidation and C$500K raise
• Duos Technologies Group, Inc. (DUOT) Tops Q2 EPS by 163c
• Indaptus Therapeutics (INDP) files for 59M share offering by selling stockholders