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LUXXFOLIO Holdings Inc. (LUXX) (LUXFF) (LUH0) announced a non-brokered private placement offering of up to $1 million. The company plans to issue up to 5,882,352 units at $0.17 per unit.
Each unit consists of one common share and one share purchase warrant. The warrants allow holders to purchase additional shares at $0.35 per share for 24 months following the offering’s closure.
The company stated it intends to use net proceeds for general working capital and development of its Litecoin mining initiatives. Completion of the offering requires customary conditions and necessary regulatory approvals.
LUXXFOLIO may pay finder’s fees in connection with the offering in accordance with applicable securities laws and Canadian Securities Exchange policies. The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.
The Vancouver-based company describes itself as a digital infrastructure and technology company focused on crypto-powered commerce. LUXXFOLIO develops on-chain technologies for cryptocurrency applications including stablecoin payments, merchant processing, and self-custody wallets.
The company has adopted a Litecoin treasury strategy as part of its operations. LUXXFOLIO trades on the Canadian Securities Exchange, OTCQB market, and Frankfurt Stock Exchange.