Details of Luxxfolio Financing
NEWS RELEASE
VANCOUVER, BC – December 4, 2024 – LUXXFOLIO Holdings Inc. (the “Company” or “Luxxfolio”) (CSE: LUXX) is pleased to provide further details of the non-brokered private placement offering (the “Financing”) initially announced on November 28, 2024, along with the Company’s plans to initiate a cryptocurrency proof-of-stake strategy (the “Strategic Plan”).
The Financing details include a non-brokered private placement offering of up to 43,333,333 units at a price of $0.03 per unit for gross proceeds of up to $1.3 million. Each unit will consist of one common share of the Company and one share purchase warrant. Each warrant will be exercisable into one common share of Luxxfolio for a period 18 months at an exercise price of $0.07 per common share.
The Company will use the proceeds from the Financing to commence the Strategic Plan, and working capital expenses such as the annual audit, organizing and holding the AGM, administrative expenses, and bona fide debt repayment of approximately $125,000.
The Financing may be completed in multiple closings. Securities issued pursuant to the Financing will be subject to a hold period expiring four months and one day from the date of issuance in accordance with applicable securities laws. The closing of the Financing is subject to the receipt of all necessary regulatory approvals, including that of the Canadian Securities Exchange.
About Luxxfolio
Luxxfolio Holdings Inc. is a publicly traded digital asset company based in Canada. It previously operated an industrial-scale cryptocurrency mining facility in the United States. As disclosed in the Company’s public record, Luxxfolio closed its mining operations due to the then downturn in the cryptocurrency markets and, over the last couple of years, has actively been engaged in determining a reasonable path forward for shareholders by restructuring the Company’s finances and pursuing financing discussions, new business opportunities, and M&A possibilities. Luxxfolio intends to remain in the digital asset business and evolve its operations to PoS and participate in DeFi and Bitcoin to provide a liquid alternative for exposure to digital assets in the broader capital markets.
Contact Information:
For more information, please contact:
Geoffrey McCord, Director
Tel: (833) 928-8883
Email: info@luxxfolio.com
www.luxxfolio.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, intends” “will”, or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward-looking statements regarding the Company and its business and strategies are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its subsidiaries to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.