LQwD Fintech (TSX.V: LQWD) (OTCQB: LQWDF) has announced an update regarding corporate accomplishments reached since the company finalized the acquisition of LQwD Financial Corp.; the acquisition was completed on June 9, 2021. Those corporate highlights include advancements in the development of the Lightning Network SaaS platform, including the establishment of LSP services, payment channels and watchtowers and the launch of the platform beta testing; the addition of key engineers and strategic advisors to the team; and the purchase of more than C$3 million worth of Bitcoin at an average price of C$46,000. In addition, LQwD Fintech has moved forward in filing a preliminary, short-form, base-shelf prospectus, an essential step in allowing the company to issue up to $50 million of common shares, warrants, subscription receipts, units, debt securities or any combination of the securities. Finally, the company also noted the grant of 3,325,000 stock options to various directors, officers, employees and consultants; the stock options are exercisable for a period of five years at a price of C$0.60 per share. According to the announcement, the stock options are part of the company’s strategy to attract and retain talent and motivate its team. “We are very pleased with the progress that our team has made since completing the transaction in June,” said LQwD CEO Shone Anstey in the press release. “Using our highly skilled in-house team, we are continuing to develop a Lightning Network SaaS platform that enables the set-up of payment channels as a service. LQwD’s Lightning Network SaaS platform is at an advanced level of development, with beta testing having commenced in the second half of 2021. We look forward continuing along this growth trajectory and maximizing shareholder value in the process.”
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About LQwD Fintech Corp.
LQwD is a Lightning Network-focused company developing payment infrastructure and solutions. The company’s mission is to develop institutional-grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility, and scaling Bitcoin. LQwD also holds Bitcoin as an operating asset establishing nodes and payment channels across the Lightning Network. For more information, please visit www.LQwDFintech.com.
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