LUXXFOLIO Announces Closing of $3 Million Private Placement


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.

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