VANCOUVER, BC / ACCESSWIRE / September 27, 2024 / LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) ("LQWD" or the "Company") announces that it has cancelled its previously announced private placement on July 22, 2024, and September 9, 2024. The Company intends to complete a non-brokered private placement of up to 1.5 million units at a price of $0.65 per unit and up to 3.2 million units at a price of $0.70 per unit for aggregate gross proceeds of up to $3,215,000 (the "Private Placement").

Each $0.65 unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each full warrant is exercisable into one common share at an exercise price of $0.90 per share at any time up to 18 months following the closing date of the Private Placement.

Each $0.70 unit will consist of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share for a period of 5 years following the closing date with exercise prices as follows: 1/5^th of the warrants will have an exercise price of $1.00 per share; 1/5^th of the warrants will have an exercise price of $1.25 per share; 1/5^th of the warrants will have an exercise price of $1.50 per share; 1/5^th of the warrants will have an exercise price of $1.75 per share; and the remaining 1/5^th of the warrants will have an exercise price of $2.00 per share.

The shares and warrants from the Private Placement are subject to a 4 month hold period before becoming free trading, and the warrants are also subject to acceleration provisions.

The net proceeds from the Private Placement will be used for, but are not limited to, continuing to expand LQWD's Lightning Network business and general working capital purposes.

Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange. It is anticipated that existing shareholders, directors, and management will be participating in the Private Placement. In connection with the Private Placement, the Company may pay a finder's fee of up to 5% on the applicable portion of the Private Placement.

About LQWD Technologies Corp.

LQWD Technologies Corp. is a leading provider of institutional-grade liquidity services for the Lightning Network. The Company's mission is to enhance the global adoption of Bitcoin by providing reliable and scalable liquidity solutions that power the Lightning Network. LQWD operates a growing number of Lightning Network nodes worldwide, ensuring efficient and cost-effective Bitcoin transactions for businesses and individuals alike.