LUXXFOLIO Announces Closing of $3 Million Private Placement
VANCOUVER, BC, July 6, 2021 /CNW/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) is pleased to announce the closing of the previously announced non-brokered private placement (NR June 15, 2021):
The final tranches consisted of 3,178,884 special warrants and 60,000 units for gross proceeds equal to $1,133,609 for total closing amount equal to $3,006,119. A total of 8,118,912 special warrants, 470,000 units and 117,032 finder warrants were issued on the closings. The special warrants and units were priced at $0.35.
All directors of the Company and wholly owned subsidiary WestBlock Capital directly or indirectly participated for a total of 320,000 special warrants/units of the offering.
Recent Company Highlights
- The recently acquired WestBlock (NR June 15, 2021) operates a 15 MW mining operation in the Navajo Nation, New Mexico, USA;
- With the addition of the 2400 Bitmain S19j Pro bitcoin miners previously announced (NR May 27, 2021), LUXXFOLIO is targeting Bitcoin production to be approximately 303 PH's by Q3 2022.
- The Company recently up-listed in the US to the OTCQB under the symbol LUXFF (NR May 19, 2021).
Estimated Calendar Miner Delivery Dates
- Q3 2021: 890 Miners
- Q4 2021: 600 Miners
- Q1 2022: 600 Miners
- Q2 2022: 600 Miners
- Q3 2022: 300 Miners
LUXXFOLIO's initial order of 590 miners are in transit and are expected to be installed and operational before the end of July 2021.
About LUXXFOLIO
LUXXFOLIO Holdings Inc. is a CSE-listed company based in Canada that is a vertically integrated digital asset company. We operate an industrial scale cryptocurrency mining operation in the United States with a focus on the blockchain ecosystem and generation of digital assets. Luxxfolio provides a liquid alternative for exposure to digital assets for the broader capital markets.
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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, "expected", "targeting", "estimated", or variations of such words and phrases or statements that certain actions, events, or results "will" occur. Forward-looking statements regarding the Company, WestBlock, miners, and the Company's development of its growth strategy 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 subsidiary 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.
SOURCE Luxxfolio Holdings Inc.
Dean Linden, Chief Executive Officer, Tel: (604) 398-3837, Email: [email protected], www.luxxfolio.com
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