Logiq Announces Closing of US $ 4 Million Funding

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GlobeNewswire
2021-08-06

NEW YORK, August 06, 2021 (GLOBE NEWSWIRE) – Logiq, Inc. (NEO: LGIQ) (OTCQX: LGIQ), a global provider of award-winning e-commerce and financial technology solutions, announced the closing of a public offering, generating gross proceeds of approximately US $ 4.0 million (Cdn $ 5.0 million ) before deduction of offering costs. As part of the offer, Logiq has entered into a share purchase agreement (the “Purchase Agreement”) with certain investors (the “buyers”), under which the Company has agreed to issue and sell, by way of a registered direct offer (the “Offer”), 1,668,042 shares (the “Shares”) of the ordinary shares of the Company, with a par value of US $ 0.0001 per share (the “Shares”). “Common Shares”), to purchasers at an offering price of US $ 2.40 (C $ 3.00) per share. The price of the Nominative Offer was reserved on the NEO Exchange on July 16, 2021.

Separately, the Company has issued warrants to purchase up to 1,668,042 common shares (the “Warrants”). Each warrant is a cash warrant and may be exercised at any time after August 6, 2021 and before August 6, 2024, with an exercise price of US $ 2.85 (CA $ 3.56) per share (subject to a contractual discount of 8% for a holder). The warrants were not registered in connection with the registered offering.

The Shares were offered by the Company pursuant to a prospectus supplement filed on August 6, 2021 to the current registration statement of the Company on Form S-3 (registration number 333-248069), which has was originally filed with the Securities and Exchange Commission (the “Commission”) on August 17, 2020 and was declared effective on August 26, 2020. Logiq intends to use the net proceeds of the offering for working capital and general business needs.

In addition to its previously announced initial public offering in Canada which raised C $ 5.9 million, Logiq has raised more than US $ 10 million as part of its U.S. registration statement at over the past 12 months.

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction

About Logiq

Logiq Inc. is a leading global provider of e-commerce solutions and business financial assistance, based in the United States. Its DataLogiq business provides an end-to-end data-driven e-commerce marketing solution. Its AI-powered LogiqX ™ data engine delivers valuable consumer insights that improve ROI on online marketing spend. The company’s Fixel technology offers streamlined online marketing with essential privacy features.

In its AppLogiq business, Logiq’s Platform as a Service, under the CreateAPP ™ brand, enables small and medium businesses around the world to easily build and deploy a native mobile application for their business without technical knowledge or knowledge. CreateAPP ™ enables businesses to reach more customers, increase sales, manage logistics and promote their products and services in a simple, affordable and highly effective way. CreateAPP ™ is offered in 14 languages ​​in 10 countries and three continents, including some of the fastest growing emerging markets in Southeast Asia. The company’s PayLogiq, under the AtozPay ™ brand in Indonesia, offers mobile payments, and GoLogiq, under the AtozGo ™ brand in Indonesia, provides hyper-local food delivery services. Connect with Logiq: Website | LinkedIn | Twitter| Facebook.

Important Cautions Regarding Forward-Looking Statements

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 these articles. This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws that relate to Logiq’s current expectations and opinions about future events. All statements that express or involve discussions regarding expectations, beliefs, plans, goals, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ” will probably 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 that could cause actual results differ materially from those expressed in these forward-looking statements. No assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be improperly relied upon.

These statements speak only as of the date of this press release. 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 the control of Logiq, which could result in a material difference between actual results and events and those disclosed or implied by these forward-looking statements. In particular and without limitation, this press release contains forward-looking statements regarding our products and services, the continued use and / or demand for our products and services, expectations regarding our revenue and the revenue-generating potential of our products. and services, our strategic partnerships and alliances, the impact of global pandemics (including COVID-19) on demand for our products and services, industry trends, overall market growth rates, our growth strategies , the continued growth of addressable markets for our products and solutions, our business plans and strategies, our competitive position in our industry and other risks described in the Company’s previous press releases and in its filings with the Securities and Exchange Commission (SEC), including its annual report on Form 10-K and any subsequent public filing, and documents dep dared under Canadian securities legislation which are available on www.sedar.com, including under the heading “Risk Factors” in the Company’s Canadian long-form prospectus dated June 9, 2021.

Logiq assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or to assess the impact of each of these factors or the extent to which a factor, or a combination of factors, may. lead to results materially different from those contained in any forward-looking statement. All forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

Company contact
Brent Suen, President
Logiq, Inc.
Contact by e-mail

Media and investor contact
Ronald Both or Grant Stude
CMA Investor and Media Relations
Phone (949) 432-7566
Contact by e-mail


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