On June 9, 2021, LQwD FinTech Corp. (TSXV: LQWD) (“LQwD” or the “Company”), formerly Interlapse Technologies Corp., announced the closing of its acquisition of LQwD Financial Corp. (“LQwD Financial”) by acquiring all of the outstanding securities of LQwD Financial in exchange for the issuance of common shares (the “Shares”) of the Company (the “Transaction”). The Company has changed its name from “Interlapse Technologies Corp.” to “LQwD FinTech Corp.” and will continue to be listed as a Tier 2 technology issuer under the policies of the TSX Venture Exchange (the “Exchange”). The new trading symbol is “LQWD”.
The Company issued 22,400,001 Shares to the shareholders of LQwD Financial in consideration for the transfer of all of the issued and outstanding common shares in the capital of LQwD to the Company on a 1:1 basis. In addition, all outstanding warrants of LQwD Financial to acquire up to 4,000,000 common shares of LQwD Financial at a price of $0.15 per LQwD common share until January 2, 2025 were automatically adjusted to be exercisable into Shares on a 1:1 basis.
LQwD is a financial technology company that develops payment network infrastructure and solutions on top of the Lightning Network, a scalable Layer 2 solution built on top of the bitcoin blockchain.
Miller Thomson advised LQwD on the Transaction with a team led by Stefan McConnell, and comprised of Lucy Schilling, Gosia Piasecka and Sarah Baddeley (Capital Markets & Securities) as well as Monika Satani (Paraprofessional).
