Logiq Files Preliminary Prospectus for Proposed Initial Public Offering of Units in Canada
January 27 2021 - 11:45AM
InvestorsHub NewsWire
New York, NY -- January
27, 2021 -- InvestorsHub NewsWire -- Logiq, Inc.
(“Logiq” or the “Company”)
(OTCQX:
LGIQ), a global provider of award-winning eCommerce and fintech
solutions, has filed a preliminary prospectus (the
“Preliminary Prospectus”) with the securities
regulatory authorities in each of the provinces of Canada (other
than Quebec) for a proposed initial public offering (the
“Offering”) of units of the Company (the
“Units”). The number of Units to be sold,
the offering price of the Units and the terms of the Warrants
(including the exercise price and expiry term) will be determined
in the context of the market.
Each Unit will consist of one
common share (a “Unit Share”) and one common share
purchase warrant of the Company (each, a
“Warrant”). Each Warrant is exercisable to acquire
one common share of the Company (a “Warrant
Share”).
The Offering is being led by
Mackie
Research Capital Corporation as the sole agent and sole
bookrunner.
Logiq recently submitted its
application to list its common shares (including the Unit Shares
and Warrant Shares) on the NEO
Exchange (the
“NEO”) in Canada, with the approval
subject to Logiq fulfilling the listing requirements of NEO. Upon
listing on the NEO, Logiq’s common shares would continue to be
traded in the U.S. on the OTCQX Market as
LGIQ.
“We are fortunate to have the
assistance of Mackie’s experienced and capable team as we take this
major step towards completing our NEO listing process,” stated
Logiq’s executive chairman and president, Brent Suen. “As a senior
exchange, the NEO platform exemplifies how state-of-the-art
exchange trading technology can help increase investor confidence,
improve liquidity, and elevate a company’s global
profile.”
Over the past year, Logiq acquired two leading e-Commerce platforms and expanded
its global presence. Its product offerings now extend from mobile
commerce and fintech solutions for small-to-medium-sized businesses
(“SMBs”) to AI-powered customer acquisition for
major enterprises and brands.
Logiq’s customer relationships now
range from hundreds of thousands of SMBs around the world to
publicly traded Fortune 1000 companies. Among the company’s notable
customers are QuinStreet (a marketing technology company), Purple
(the creator of the renowned Purple mattress) and Sunrun (a solar
company).
The Preliminary Prospectus
contains important information relating to Logiq and the Units. The
Preliminary Prospectus remains subject to completion or amendment.
There will not be any sale or any acceptance of an offer to buy the
Units until a receipt for the final prospectus has been issued by
the relevant securities regulatory authorities in Canada. A copy of
the Preliminary Prospectus can be obtained under Logiq’s corporate
profile on SEDAR at www.sedar.com. There can be no assurance that Logiq
will satisfy all applicable requirements for listing its common
shares on the NEO, that its application for listing will be
approved or that a receipt for its final prospectus will be
issued.
About
Logiq
Logiq, Inc.
(OTCQX:
LGIQ) is a U.S.-based leading global provider of eCommerce,
mCommerce, and fintech business enablement solutions. Its DataLogiq
subsidiary provides a data-driven, end-to-end eCommerce marketing
solution for enterprises and major U.S. brands, including Home
Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine
delivers valuable consumer insights that enhance the ROI of online
marketing spend. The company’s Fixel™ technology offers simplified
online marketing with critical privacy features.
Logiq’s AppLogiq™
platform-as-a-service enables small- and medium-sized businesses
worldwide to easily create and deploy a native mobile app for their
business without technical knowledge or background. AppLogiq
empowers businesses to reach more customers, increase sales, manage
logistics, and promote their products and services in an easy,
affordable, and highly efficient way. AppLogiq is offered in 14
languages across 10 countries and three continents, including some
of the fastest-growing emerging markets in Southeast Asia. The
company’s PayLogiq™ offers
mobile payments, and GoLogiq™ offers
hyper-local food delivery services.
For more information about Logiq,
go to Logiq.com.
Forward-Looking
Disclaimer
This press release contains
certain forward-looking statements and information, as defined
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the Safe Harbor created by those sections. This news
release also contains forward-looking statements and
forward-looking information within the meaning of Canadian
securities legislation that relate to Logiq’s current expectations
and views of future events. Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
through the use of words or phrases such as "will likely result",
"are expected to", "expects", "will continue", "is anticipated",
"anticipates", "believes", "estimated", "intends", "plans",
"forecast", "projection", "strategy", "objective" and "outlook")
are not historical facts and may be forward-looking statements and
may involve estimates, assumptions and uncertainties which could
cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not
be unduly relied upon. These statements speak only as of the date
of this news release. In particular and without limitation, this
news release contains forward-looking statements regarding Logiq’s
proposed NEO listing and its initial public offering of
Units.
Forward-looking statements are
based on a number of assumptions and are subject to a number of
risks and uncertainties, many of which are beyond Logiq’s control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to, failure to complete the initial public offering, the
impact and progression of the COVID-19 pandemic and other factors
set forth under “Forward-Looking Statements" and “Risk Factors” in
the Preliminary Prospectus, as well as other risks described in
Logiq’s prior press releases and in its filings with the Securities
and Exchange Commission (“SEC”), including under the heading "Risk
Factors" in Logiq’s Annual Report on Form 10-K and any subsequent
filings with the SEC. Logiq undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law. New factors emerge from time to time, and it is not
possible for Logiq to predict all of them, or assess the impact of
each such factor or the extent to which any factor, or combination
of factors, may cause results to differ materially from those
contained in any forward-looking statement. Any forward-looking
statements contained in this news release are expressly qualified
in their entirety by this cautionary statement.
Company
Contact
Brent Suen,
President
Logiq, Inc.
Email
contact
Media & Investor
Contact
Ronald Both or Grant
Stude
CMA Investor & Media
Relations
Tel (949)
432-7566
Email
contact
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