VANCOUVER, BC,
March 3, 2022 /CNW/ -
LQwD FinTech Corp. (TSXV: LQWD) (OTC: LQWDF) announces that it has
terminated its investor relations agreement with Maynard
Communications Limited ("Maynard"), effective immediately, as the
Company was unable to receive approval of the agreement by the TSX
Venture Exchange.
As announced on November 5,
2021, the Company entered into an agreement with Maynard
dated November 4, 2021, for the
provision of various corporate communications services. The
engagement was for an aggregate cost of C$740,000, which the Company clarifies was paid
up front on November 9, 2021, for a
term of six (6) months. Also, Maynard participated in the Company's
prospectus offering, purchasing 2.1 million units at C$0.35 per unit, which closed on October 28, 2021. The Company has requested
immediate reimbursement of C$635,000
from Maynard for services not yet provided.
About LQwD
LQwD is a Lightning Network Service Provider (LSP) focused on
developing payment infrastructure and solutions accelerating the
global mega trend of Bitcoin adoption through the Lightning
Network. 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 and acquires Bitcoin as an
operating asset establishing nodes and payment channels on the
Lightning Network.
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
Company's business plans and the outlook of the Company's industry.
Although the Company believes, considering the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE LQwD FinTech Corp.