LiteLink Subsidiary uBUCK to Raise $4 Million Through Private Placement

LiteLink

LiteLink Technologies Inc. (CSE:LLT) (OTCPK:LLNKF) is one of the companies outside the cannabis space that Rich makes sure his community members are aware of. It’s a sure-fire mover in both the logistics and cryptocurrency industries, making LLT stock a hot commodity.

Today, Rich examines the newest LiteLink announcement that its wholly-owned subsidiary, uBUCK Technologies SEZC (“uBUCK”), will engage in a non-brokered private placement of up to 8,000,000 preferred shares. Priced at $0.50 USD a share, the aggregate gross proceeds of the offering will be up to $4,000,000.

“I would not be surprised to see LiteLink explode on this news,” says Rich. Let’s break the news down.

uBUCK’s Game-Changing Digital Wallet

According to a press release from LiteLink, the first portion or “tranche” of the private placement, worth $400,000, will occur around September 30. The offering is expected to generate $1,500,000 by June 30, 2020, at which time the investor will have an option to invest an additional $2,500,000. If exercised, this would bring the total proceeds to $4,000,000.

“You know the price of LiteLink, right? It’s $0.15, and they’re offering these at $0.50,” says Rich. “What do they know that we don’t know?”

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Rich goes on to applaud the company for its decision to make the offering a non-dilutive transaction.

uBUCK plans to use the proceeds of the offering to complete the development of its digital wallet. Funds will also go towards accelerating growth and increasing customer acquisitions.

Headquartered in the Cayman Islands, uBUCK is a fintech company specializing in decentralized digital payments and wallets. Its online payments platform, uBUCK Pay, offers consumers, businesses, and merchants a fast, high secure, commission-free alternative to traditional payment methods.

In addition to its digital wallet services, the company also offers the uBUCK voucher. This is a prepaid voucher that allows customers to top-up accounts and make payments with total security. Vouchers may be redeemed for uBUCK cash to make payments to friends and family around the world, which can be done within minutes.

Other Recent News from LiteLink

On September 11, Rich highlighted the news that LiteLink signed a customer trial and a definitive user agreement with Brookdale Treeland Nurseries Ltd., one of Canada’s biggest nurseries. The agreement will see the company provide Brookdale with the enterprise version of its 1SHIFT Logistics platform on a continuous basis.

This news was a big step forward for LiteLink, which is aiming to become the dominant logistics platform used by nurseries in the country.

uBUCK Technologies also recently signed a definitive commercial agreement with Datable Technology Corp. (TSXV:DAC). Datable provides consumers of big-name brands with access to more than 300 digital gift cards from leading companies including Walmart (NYSE:WMT), Starbucks (NASDAQ:SBUX), and Target (NYSE:TGT).

The partnership gives uBUCK access to Datable’s proprietary rewards platform, which integrates the uBUCK prepaid credit cards into Datable’s reward portals. This strategic relationship ultimately benefits both companies in strengthening their market offerings.

Since the start of September, LLT has steadily climbed up the CSE, from $0.085 on August 30 to $0.15 at its opening today.

“LiteLink’s been a huge winner, they’ve exploded and made a lot of money for its investors,” says Rich. “And they just keep getting bigger and better.”

The company is clearly making some big moves in preparation of a new phase of operations, likely one that will see additional commercial deployments of its logistics and fintech solutions.

What do you think; is LiteLink poised for massive growth? Will LLT skyrocket in the coming weeks? Let us know your thoughts in the comments below.

Featured image: DepositPhotos © jamesteohart

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