LiteLink Subsidiary Completes Second Tranche of Private Placement

LiteLink Technologies (CSE:LLT,OTC:LLNKF) announced that its subsidiary uBUCK Technologies SEZC has closed the second tranche of a non-brokered, non-dilutive private placement previously announced in September.

As quoted in the press release:

Under the second tranche, uBUCK issued 1,000,000 preferred shares at a price of US$0.50 per share for gross proceeds of US$500,000. Under the terms of the offering, uBUCK expects an additional minimum investment of US$1,500,000 will be made in exchange for 3,000,000 preferred shares at a price of US$0.50 per share by June 30, 2020. The investor will also have the option to invest an additional US$2,500,000 for a total of 8,000,000 preferred shares at a price of US$0.50 per share by September 30, 2021.

Click here to read the full press release.