LUXXFOLIO closes first tranche of private placement for $786,080

LUXXFOLIO Holdings Inc. (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH0) closed the first tranche of its non-brokered private placement, raising $786,080 through the issuance of 4,624,000 units at $0.17 per unit.

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

The company paid $53,345 in cash finder's fees and issued 313,796 finder's warrants in connection with the offering. The finder's warrants allow holders to purchase one share at $0.35 for 24 months from issuance.

LUXXFOLIO stated it intends to use net proceeds for general working capital and development of its Litecoin and stablecoin projects.

The company also announced it changed auditors from Kenway, Mack, Slusarchuk, Stewart LLP to CAN PARTNERS LLP effective November 4, 2024. CAN Partners will serve until the next annual general meeting of shareholders.

According to the filing, there were no modified opinions in the former auditor's reports regarding the company's financial statements for the two most recently completed fiscal years, and no reportable events occurred between the former auditor and the company.

LUXXFOLIO describes itself as a digital infrastructure and technology company focused on crypto-powered commerce applications, including stablecoin payments and merchant processing systems.

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