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LUXXFOLIO Holdings Inc. (LUXX) (LUXFF) (LUH0) closed the second and final tranche of its non-brokered private placement, issuing 1,430,000 units at $0.17 per unit for gross proceeds of $243,100.
The Vancouver-based company raised a total of $1,029,180 through both tranches of the financing and issued 6,054,000 units. 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 from closing.
The company paid $17,017 in cash finder’s fees and issued 100,100 finder’s warrants for the second tranche. Across both tranches, LUXXFOLIO paid $70,363 in total finder’s fees and issued 413,896 finder’s warrants. The finder’s warrants carry the same terms as the unit warrants.
LUXXFOLIO stated it intends to use the net proceeds from the final tranche for general working capital and development of its Litecoin and stablecoin projects. The company describes itself as a digital infrastructure and technology company focused on crypto-powered commerce applications.
The completion of the financing remains subject to customary conditions and receipt of necessary approvals. The securities were not registered under U.S. securities laws and cannot be offered or sold in the United States without registration or an applicable exemption.