LX Ventures is raising just over $3 million to continue to accelerate the growth of the Company's core portfolio companies, including Mobio and Strutta.
Issuing just under nine million units for 35 cents each, the Vancouver-based publicly traded incubator says the non-brokered private placement will help foster the growth of the companies under its uncubation, which include the recently acquired Copper.io.
LXV also announced that it has retained Liolios Group to provide investor relations services from its head office in Newport Beach, California, as well as its office in Toronto, Ontario. According to LXV, Liolios Group will work closely with LXV management to refine and deliver the company's message and introduce the company to key investors and influencers in the financial community.
"We are experiencing tremendous momentum with the explosive growth of our Mobio INsider platform and we are committed to continuing the rapid acceleration of this business segment. In addition, with the recent acquisition of Strutta.com Media and Copper Cloud Inc., we are well positioned to introduce our exciting value proposition to a wider audience of capital markets participants. The tremendous experience of Liolios Group will position us well, as we expand into larger markets in Europe and the US," said CEO Mike Edwards, who last year was ranked among Vancouver's most powerful people alongside HootSuite founder and LXV board member Ryan Holmes.