LX Ventures Inc.

LX Ventures Inc.

November 15, 2013 20:39 ET

LX Ventures Announces $3 Million Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 15, 2013) - LX Ventures Inc. (TSX VENTURE:LXV) ("LXV" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement in which it will raise up to $3,045,000. In connection with the offering, the Company will issue up to 8,700,000 units at a price of $0.35 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.50 for a period of 12 months from the closing of the offering, subject to certain acceleration provisions in the event that the shares of the Company trade at $0.65 or higher for 10 consecutive trading days. The company will pay a finder's fee to certain eligible persons for subscriptions to the offering completed by qualified investors who have been introduced by such finders.

The funds raised from the offering will be used to accelerate the growth of the Company's core portfolio investments and to target and close new roll-up acquisitions.

LXV CEO, Mike Edwards, commented, "We are experiencing tremendous momentum with the upcoming launch of our Mobio INsider platform and are committed to continuing the rapid acceleration of this business segment. In addition, we have identified and are completing due diligence on additional fundamental acquisition opportunities within our targeted vertical markets."

About LX Ventures

LX Ventures is a publicly traded technology accelerator that acquires, integrates and accelerates high growth technology companies. We are vertically integrated with internal best-in-class practice area teams in sales, marketing, engineering and finance that are leveraged to turn our portfolio companies into industry leading organizations, one by one. We are in the business of building businesses. For further information about LX Ventures, please visit: www.lxventures.com.



Mike Edwards, CEO

CAUTIONARY NOTE: FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of LX are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by LX are those risks described herein and from time to time, in the filings made by LX with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information