LiteLink Technologies Announces Closing of C$1 Million Private Placement

LiteLink Technologies, a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that it has completed its previously announced private placement.

Recommended AI News: Global Unichip Corporation and Flex Logix Achieve First-Time Working Silicon on Joint ASIC Development Using EFLX Embedded FPGA (eFPGA) IP

The Offering was comprised of 10,050,000 common shares (the “Shares”) at a price of C$0.10 for gross proceeds of C$1,005,000.

“We are pleased to have completed this offering and now have additional resources to continue to execute on our sales and growth strategies,” said LiteLink Chairman and CEO Peter Green. “We wish to thank all of our shareholders and look forward to our exciting journey ahead.”

Recommended AI News: Arize AI Partners with Spell to Bring ML Observability to the Spell Platform

The proceeds from the Offering will be used by the Company for future acquisitions and organic growth investments, including operations by subsidiaries and/or portfolio companies, working capital, and general corporate purposes.

All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. A total of C$11,400 in fees was paid to brokers assisting in the close of Offering.

Recommended AI News: Solera AI Sets The Global Standard Now With 40% Faster Image Damage Detection And Unrivalled Accuracy