Toronto, Ontario, Canada – TheNewswire – 08/27/2021 – Liquid Avatar Technologies Inc. (CSE: LQID) / (OTC: LQAVF) / (FRA: 4T51) / CNSX (LQID.CN) (“Fluid avatar technologies” or the “society“), a global blockchain, digital identity and fintech solutions company, is pleased to announce that it has completed its previously announced private placement of its common stock (“Common stock“) And warrants to purchase common shares (“Warrants“) With institutional investors for gross proceeds of CAD 2.7 million (the”Private placement“). Pursuant to the private placement, the Company has issued 24,000,001 common shares and warrants to purchase a total of up to 24,000,001 common shares at a purchase price of $ 0.1125 per common share and warrant. Each warrant entitles the holder to purchase one common share at an exercise price of $ 0.15 per common share for a period of five years from the date of issue.
HC Wainwright & Co. acted as the exclusive placement agent for the private placement.
The net proceeds from the private placement will be used for working capital and general corporate purposes. No securities have been offered or sold to residents of Canada in connection with the private placement.
HC Wainwright & Co. received a cash commission of 8.0% of the gross proceeds from the private placement and warrants for the purchase of up to 1,920,000 common shares at an exercise price of $ 0.15 for a period of 5 years from the issue date .
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will any sale of the securities be made in any jurisdiction in which such offer, solicitation or sale is prior to registration or qualification under the securities laws of a such jurisdiction. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act“, Or under the securities laws of any US state, and such securities may not be offered or sold in the United States or to any US person unless it is registered under US securities laws or any applicable exemption from such US registration requirements to have. “United States” and “US person“Have the respective meanings ascribed to them in Regulation S of the US Securities Act.
NOT FOR DISTRIBUTION TO US NEWS SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
About Liquid Avatar Technologies Inc.- www.liquidavatartechnologies.com
Liquid Avatar Technologies Inc. is focused on the verification, management and monetization of Self Sovereign Identity, enabling users to control and benefit from the use of their online identity.
The Liquid Avatar Mobile App, available on the Apple App Store and Google Play, is a verified platform for self-sovereign identity that enables users to create high quality digital icons that represent their online personalities. These icons allow users to manage and control their digital identity and their verifiable access and identity credentials, and use Liquid Avatars to share public and privilege-based private data when and with whoever they want.
The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) is designed to support all participants in a digital credential ecosystem, including owners, issuers and verifiers, by using cutting-edge blockchain and open-standard technologies, initially as a node on the Indicio Network. The company is a voting and steering committee member of the Trust over IP Foundation, a founding and steering committee member of Cardea, a Linux Foundation public health project, a member of the Good Health Pass Collaboration, ID2020, DIACC, CCI, The Linux Foundation and a founding member of the Lumedic Exchange.
The company has a number of early-stage revenue-generating programs that support the Liquid Avatar mobile app program, including KABN KASH, a cashback and rewards program with over 500 leading online retailers. In Canada, the company also has the KABN Visa Card, a “challenger finance” platform that enables users to manage and control a range of financial services for traditional and digital currencies. The company is currently considering expanding the KABN Visa Card program to other geographic regions, including the United States.
Subsidiary of the company, Oasis Digital Studios, is a creative and development agency that supports a wide variety of artists, talents and companies with Non-Fungible Token (NFT) solutions.
Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol “LQID” (CSE: LQID).
The Company also trades on the United States on the OTCQB under the symbol “LQAVF” and in Frankfurt under the symbol “4T51”.
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For more information, please visit www.liquidavatartechnologies.com
For more information please contact:
647-725-7742 ext. 701
The CSE has not reviewed this press release and assumes no responsibility for the adequacy or accuracy of this press release.
All websites to which reference is made are expressly not incorporated by reference into this press release.
Forward-looking information and statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and may contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking information Forward-looking statements are not representative of historical facts or information or current conditions, but instead only represent the company’s beliefs about future events, plans or goals, many of which are inherently uncertain and beyond the control of the company . In general, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expected” or “expected”, “is expected”, “budget”, “planned”, “estimates”, “projected” , “Intends”, “anticipates” or “does not expect” or “believes” or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “will be continued”, “will enter” or “will be reached”.
By identifying such information and statements in this way, the company caution readers that such information and statements are subject to known and unknown risks, uncertainties and other factors that affect the actual results, levels of activity, performance, or achievements of the company Companies may differ materially from those express or implied in such information and statements. In addition, the company has made certain assumptions in connection with the forward-looking information and forward-looking statements contained in this press release.
Although the company believes that the assumptions and factors used in preparing the forward-looking information and statements and the expectations contained therein are reasonable, undue reliance should be placed on such information and statements and no representation or guarantee can be made that Such forward-looking information and statements will prove to be correct, as actual results and future events could differ materially from those anticipated in these information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update any forward-looking information and / or forward-looking statements contained therein or referred to herein except in accordance with applicable securities laws.