Canadian Firm Luxxfolio Plans $73M Raise to Expand Litecoin Treasury Strategy

The Canadian Lux Flevolo Infrastructure Infrastructure Company presented the cliff bulletin on Thursday to raise up to 100 million Canadian dollars ($ 73 million), after months of becoming the first company publicly listed to establish its wardrobe in Leitkewin after a wider axis of bitcoin mining.

The CEO and director Tomek Antoniak said in statement.

“In our sector, the size is very important – the more the treasury and our infrastructure, and the owners of the ecosystem, the greater our ability to capture its share in the market and affect the dependence,” adding that the shelf will give Luxevolo “flexibility” to expand and meet the market requirements.

Once approved, Luxvolio Shelf It will enable it to raise funds for more than 25 months by issuing shares, debts or other securities.

The latest deposit is followed by Luxxfolio step in July to start detecting Litecoin purchases, with a strategic advisor confirming earlier this month that the company targets a total of 1 million LTC by 2026.

Meanwhile, Litecoin Charlie Lee joined the Consultative Council in late June.

Luxxfolio, like I am free Jump Treasury trendIt puts its strategy on reserves and infrastructure, although its financial data is in bad condition, characterized by the loss and liquidity limited of its share.

The main stress signs include the lack of revenues, a clear loss of about 197,000 dollars for the second quarter, compared to a net loss of $ 8,000 in the same period in the previous year, and nine months losses, which have multiplied more than twice on an annual basis, according to the last The quarterly financial statements.

The company closed the second quarter of this year with only $ 112,000 in cash and relied on a special place worth $ 844,000 to stay on its feet, with nearly $ 19 million of losses since its establishment in 2017.

Her administration has warned of “great doubt” about her ability to continue working without new capital. Decipher I arrived at Luxxfolio to comment.

Nasdaq Boots Windtree a month after the treasury axis failed 700 million dollars in raising shares

Observers argue that the Ministry of Digital Treasury, which focuses on Litecoin, can attract institutional attention if it exceeds negative accumulation.

This model can “fully attract institutional capital if it is associated with useless infrastructure”, told Moho Bousbetzalekki, CEO of the portfolio of the portfolio, American castle, Decipher.

Quoting how the flows on the Litecoin system are at the forefront of more than $ 100 million, POSPIESZALSKI said that institutions “do not spread this type of capital in a ghost chain” instead, “are looking for developmentable bars, compliance paths, and user dependence.”