Terms and conditions of use for the investor



I. DEFINITIONS.

LIGNUM CAPITAL.

A Spanish company with a registered office in Madrid, Calle Augusto Figueroa 17, 3º A, with CIF B86999984, inscribed in the Mercantile Register of Madrid.

Its corporate purpose is the development and management of a web platform for participatory financing, aimed at facilitating the financing of companies or projects in the creation or growth phase (Promoters), bringing these Promoters in contact with a plurality of individuals or legal entities that offer financing.

He is the owner of the web platform called www.lignumcap.com (hereinafter, web platform/ web page)

Entrepreneur.

For the purpose of this platform, the term entrepreneur refers to all natural or legal persons that are registered as entrepreneurs in our web platform and who are interested in promoting one or several business projects, becoming, through this process, promoters.

Promoter.

Promoter is considered, for the purposes of this platform, any entrepreneur (whether natural or legal person) who is registered as such and has created a campaign to promote a business project through our platform, in accordance with the provisions of the Law 05/2015 on Promotion of business financing.

Project Promoted.

The business project that is promoted through the web platform under the title of Funding Campaigns. Promoted projects will be proposed by the entrepreneurs and must be approved by the team of Lignum Capital.

Funding Campaign.

The financing campaign is the way to promote a project through the web platform. It includes all the relevant information that the promoters have contributed on the promoted project, the time frame to obtain the financing and is part of the functionality of the entrepreneurs.

Investment.

It is defined as the assumption, by an investor, of the shares of a promoter company within the framework of a capital increase, by means of the corresponding monetary contribution.

Investor.

For the purposes of this platform, investors are considered to be any natural or legal person who is registered as an investor in our web platform and who is interested in investing in one or more promoted projects. There are two types of investors, accredited and non-accredited.

II. CONDITIONS OF THE INVESTOR.

2.1. General.

The purpose of this document is to describe the terms and conditions of use that the investor must observe and comply with as a user of the web platform, especially regarding the formalisation of investments in projects promoted through the platform.

LIGNUM CAPITAL is a participatory financing web platform through which promoting societies can advertise projects that have previously been accepted by our team. In this platform, all relevant information about such projects will be exposed in order to seek funding through the issuance of shareholdings. On the other hand, investors can access the available information, learn about the entrepreneurs, and invest in an informed manner with the due guarantees of neutrality, diligence and transparency and in the best interest of their clients by part of Lignum Capital.

The activity of Lignum Capital is exclusively limited to the establishment and management of the aforementioned web platform, which allows free interaction between the various agents (investors and promoting societies) and the advising and coordination of investment operations, without, in no case, can be considered such activity consulting activities of advisors or financial intermediaries. Likewise, under no circumstances, it may be deducted from our activity that Lignum Capital promotes or recommends projects in a specific way or that it acts for the benefit of interests other than those of its clients.

The present Terms and Conditions document for the investor is constituted as a set of rules of conduct applicable to the persons registered as investors through the web platform, which must be read and accepted by the interested party at the time of registration.

Acceptance of the attachment to this document implies acceptance of its entire contents, without opposition of reservations by the interested party that registers which from that moment will be considered as investor and client by the platform.

For the purposes of the registered investor, the platform understands that the investor is aware of the risks associated with this type of investment and that he / she has read the required risk warning and other legal warnings.

If the user does not agree with the present document or would like to raise reservations about a point, he should refrain from accepting it and desist from the registration process.

The investor declares that it knows and understands that Lignum Capital, as a participatory financing platform, does not have the status of Investment Services Company of Credit Entity, and therefore is not affiliated to any Investment Guarantee Fund or Guarantee Fund of Deposits, with the risk that entails. Lignum Capital reserves the right at any time, to interrupt, modify or update, temporarily or permanently, the content and services of the web platform, the content of this document and / or the conditions to benefit from the services of Lignum Capital, without this action generating responsibility for our company. In any case, the user assumes the total responsibility to trust the information and security of the web platform and is obliged to act in good faith and due diligence in the use of its services.

III. AVAILABLE SERVICES FOR INVESTORS

3.1. Description.

Lignum Capital offers access to its website free of charge. However, it will be necessary, to enjoy the services as client and user of the page, to register with its corresponding name and password as an investor.

Investors who meet the established requirements will be able to evaluate the projects presented and invest in those that best fit their particular interests in a legal framework of trust, with clear limitations that seek to protect the investor.

Lignum Capital reminds you that the activities reserved for Investment Services Companies and other Credit Institutions are not included in your services catalog and, in particular, you will not be able to:

  1. To provide services for the reception, transmission or execution of orders or orders of clients referred to in letters a) and b) of article 63.1 of Law 24/1988, of July 28, on the Securities Market, or custody of the same.

  2. Receive funds on behalf of investors or promoters, unless they have the purpose of payment and the platform has the required authorization of a hybrid payment entity, in accordance with the provisions of Law 16/2009 of November 13, of payment services, and its regulations of development.

  3. Receive assets from the promoters in their own name, either for their own account or on behalf of the investors, in guarantee of compliance with the obligations of said promoters vis-à-vis investors.

  4. To grant discretionary and individualized management of investments in participatory financing projects.

  5. Make personalized recommendations to investors on participatory financing projects.

  6. To grant credits or loans to investors or promoters, except as provided in article 63 of this Law.

  7. Assure promoters fundraising.

  8. Provide automatic investment mechanisms that allow unverified investors to automate their investment decision, whether or not based on criteria set by the investor. The automatic investing mechanisms will not have the utilities that allow the investor to pre-select from the published projects all those in which to invest in order to subsequently agree and formalize their participation in them through a single action.

3.2. Catalogue of Services.

Lignum Capital offers the following services through its web platform:

  1. Visibility and unrestricted access to the documents and information provided concerning the projects promoted.

  2. Access to Lignum Chat, an interactive tool that will allow you to ask questions directly to the entrepreneurs about the projects promoted and to know the answers that facilitate to questions of other investors.

  3. Reception and updating, via electronic chore, of the information available on the website.

  4. Invest in the promoted projects.

  5. Monitor the investment made and monitor the evolution of the projects promoted.

3.3. Use of Services

The use of the services that Lignum Capital offers by investors through the web platform will be regulated by the present document, to which the registered investors will be subject.

The services include access to the relevant information of the different projects, the possibility to contact directly with the different promoters, the possibility to consult and resolve their doubts with our team, and the possibility of investing in the different projects, becoming, from this form, in partner investor.

In this regard, and in return for the benefit of the aforementioned services that it enjoys as an investor, it must observe and comply with the following obligations:

  1. The user agrees to make a correct use of the website, not to engage in illegal activities, not to make an anti-bona fide use of the available content, and not to use their privileges as a user in a contrary way to the provisions of the Legal Notice and current legislation.

  2. The correct use of our services is understood to be one that fulfills the purpose of the same, that is, to facilitate the contact between investors and companies in order to satisfy their financing needs. Otherwise, when the use is not complied with in accordance with the established policy and conditions, the user will be responsible for any damages that he may cause to third parties, other users or to Lignum Capital as a result of this breach.

  3. The user undertakes not to copy, reproduce, transform and / or distribute, totally or partially, the content of the web page for advertising or commercial purposes and not to grant its exclusive access to third parties that do it on its behalf. You agree not to publish, distribute or disclose any information beyond what is naturally necessary and authorized to enjoy our services or that is required by Lignum Capital through the website. You agree not to send, deposit or download any files, other than those duly authorized through our website.

  4. The user assumes the total responsibility of trusting or not in the information and security of the web page and is obliged to act in good faith and with the due diligence in the use of its services.

  5. The user is obliged to indemnify Lignum Capital for the damages caused, for the claims presented and for the claims filed against our company, assuming the costs arising from the litigation, when the cause of the litigation is attributable to the non-compliance by the user of its legal obligations or the conditions of use of the website.

Likewise, the investor accepts that Lignum Capital:

  1. No one is responsible for guaranteeing the accuracy, reliability, correctness, authenticity, timeliness, truthfulness and suitability of the information contained in the web page, beyond the limit of activity that is allowed to us and of the requirements and conditions that must comply the investors and the companies that make use of our services.

    Article 71. Responsibility for the participatory financing platform regarding project information. 1. Participatory financing platforms shall ensure that the information published on the platform is complete in accordance with the provisions of this chapter
  2. Participatory funding platforms shall publish all other relevant information in their possession of the project(s). 2. It is not responsible for the information that is outside the website and that is accessible through links or links located in the same. In no way should the links or links be interpreted as an express or implied investment recommendation or as an invitation to follow and visualize the content of said link.

  3. No one is responsible for the expenses derived from the abnormal operation of our services due to causes attributable to interference, interruptions, telephone breakdowns, system delays or disconnections that are not attributable to the control of Lignum Capital or that do not derive from the lack of due diligence of our company as well as those expenses derived from the malfunction of the equipment of the user or his navigator.

Lignum Capital uses the best technologies in systems protection and antivirus. However, it can not guarantee and is not responsible for any damages that may be suffered by the user's equipment or third party access to the system of his equipment as a result of the harmful content or programs derived from the use of our website (virus, etc. ..).

For any other risk derived from the investment, the user must go to the "Risk Warning" tab.

We remind you that in case of legal dispute with Lignum Capital, users accept and undertake to submit to the Spanish laws and courts.

IV. ACCESS TO SERVICES.

4.1. Registration Process.

The requirements to register as a user are as follows:

  • Being of age (+18 years)

  • Being in possession of ordinary civil capacity

  • Not be legally incapacitated.

The registration process begins with the creation of a personal account as an entrepreneur on our website, by clicking on the Registration tab of our main page.

Then, the different fields must be completed. Once completed, the registration will be completed. The user will receive an email in the email account that has provided, confirming the registration, mail and password.

Registry.

The following information must be completed:

  1. Name and Surname or Company Name

  2. NIF/NIE/CIF

  3. Home/Head Office

  4. Civil status and matrimonial economic regime (when the entrepreneur is a natural person)

  5. Contact email address (confirmation of registration will be sent to this address)

  6. Password

  7. Type of user to be chosen, which will define the functionality of user within the web:

    "Investor", "Investor and Entrepreneur" or "Entrepreneur" should be chosen. In the category of Investor, the choice between Accredited or Non-Accredited Investor must be chosen.

Regarding the data of legal persons, representatives, administrators or those who hold the power of representation of the company (which must be a natural person) must provide the following information:

  1. Full Name and Surnames

  2. NIF/NIE

  3. Home/Head Office

  4. Contact email address

The administrator of the Investor Company will be considered as an Investment Manager.

In any case, Lignum Capital recalls that both the Investor and the Investment Manager (in the case of legal entities) hereby undertake to ensure that the information and data provided by them are current, accurate, authentic and truthful and delivered in good faith, being only responsible for third parties and against Lignum Capital of falsehoods, inaccuracies or fraud in the information provided.

Registration will be sufficient to carry out the investment process. Logging in as a user will allow you to access project information, use Lignum Chat and navigate the platform, as well as invest in the projects you consider attractive.

However, Lignum Capital reminds you that once registered, you will only be able to access the investment process as a non-accredited investor, with the consequent limitations that this entails. In order to enjoy the status of the accredited Investor, it must comply with the provisions of section 4.1.3. Regime of the Investor Status.

To clarify any doubt regarding the registration process, please access the following link: Tutorial.

4.2. Access data.

The User Access Data corresponds to the registration email address and password you provided. The purpose of this data is to safeguard the security of the system and establish a form of verification of the use of the platform by the user, who is obliged, by virtue of the activity that realizes once logged in with his Access Data.

Access data.

a. You are identified as a user of LIGNUM CAPITAL in a very personal way, being the investor responsible for the activity carried out within the platform.

b. They allow you to effectively access your personal profile within the web platform, and enjoy the services of Lignum Capital as an investor and logged in user.

c. The investor agrees to carry out: (I) a responsible use of its data and, in particular, its access password. (II) to keep it secret and not to divulge it irresponsibly. (III) not allow third parties access to the platform with their access data, if they were not duly authorized by the account holder. (IV) not register on behalf of a third party without being duly authorized by it or be its legal representative.

d. In case of loss, subtraction, or any other circumstance that may allow a reasonable doubt about the security of your Personal Access Data, the investor shall be obliged to notify said incidence to Lignum Capital, being the user responsible for the consequences that are derived from non-communication in time and from.

You must report the loss, subtraction or fear for the security of your Access Data through the link "Loss or Subtraction of your Access Data", indicating your user email, your original password and a new email address.

Then the account will be blocked and the user will receive an email from help@lignumcap.com, subject "Access Data", in which a link will be sent to establish a new user email and a new password.

In any case, Lignum Capital reserves the right to cancel without prior notice the access to the website of those users who make an improper use of it and to adopt, at any time, all the security measures that it considers necessary to guarantee the good use and the confidentiality of the data deposited in the web page and the security of the system.

The Investor hereby declares that he understands and accepts the risks associated with the use of his Access Data and declares himself responsible for the improper use thereof.

4.3. Type of Investor.

Investors may be Accredited or Non-Accredited.

  1. They will have the status of an accredited investor:

    1. The natural and legal persons referred to in letters a), b) and d) of article 78 bis.3 of Law 24/1988, of July 28, on the Stock Market.

    2. Entrepreneurs, small and medium-sized enterprises and legal entities that individually meet at least two of the following conditions:

      1. That the total of the asset items is equal to or greater than 1 million Euros

      2. That the amount of its annual turnover is equal to or greater than 2 million Euros

      3. That its own resources equal or exceed 300,000 Euros.

    3. Small and medium-sized enterprises and legal entities whose annual turnover is equal to or greater than 2 million Euros.

    4. Individuals who meet the following conditions:

      1. To credit an annual income of more than 50,000 Euros or financial capital of more than 100,000 Euros, and

      2. Request, prior to being considered as accredited investors, and expressly waive their treatment as an uncredited client.

    5. In addition to the aforementioned persons, the natural or legal persons accrediting the contracting of the financial advisory service on the financing instruments of the platform by an authorized investment services company shall also be considered as accredited investors.

  2. Will be considered an uncredited investor:

    1. Any investor that does not comply with the provisions in the previous sections.

    2. Accredited investors who do not provide financing to a participatory financing platform project within a 12-month period, although they may recover their original condition when they comply with the requirements established in said letters. Likewise, they will lose the consideration of creditors when they request it in writing.

4.4. Regime of the Registration and Investment process.

The Investor hereby acknowledges, through the registration as a user, the following points:

  1. Who is a natural person, of legal age, with full capacity to act and acting in his own name.

  2. That it is a duly constituted legal person, duly represented by who holds the position of administrator of the company or legal representation thereof.

  3. That the investor does not make investments behalf of third parties when it does not have the status of investment services company or credit institution.

  4. That the investor authorizes Lignum Capital to publish the data related to its user name and to have the other data provided by the investor to carry out the investment process, thus allowing them to be made public, within the framework of the capital increase operation.

  5. That the investor expressly accepts and authorizes Lignum Capital to make communications and notifications of a commercial or informative nature, via electronic mail, to the address indicated by the investor.

  6. That the investor agrees to facilitate and deliver at any time to Lignum Capital, the information that is required by it, in order to prevent the crime of money laundering.

  7. That Lignum Capital reserves the right to deny registration or to withdraw a registered user, when he or she misuses the web platform or refuses to deliver the documentation that is required.

V. INVESTMENT PROCESS.

5.1. Description.

Once you have registered as an investor and have the access data, you can start with the investment process in those projects that the investor considers interesting.

The information provided at the time of registration, which is set forth in section 4, is essential to organize the investment process since investments can only be made on behalf of the investor and never on behalf of a third party, the investor being personally, the sole responsible for the investment decisions that are carried out under its user account, answering this of the veracity and accuracy of said information, being obliged to contribute that other information that is required to him.

The absence of such information or the non-contribution of the additional information required will cause the end of the investment process.

Companies seeking financing through the Lignum Capital platform offer shares or other equity securities, which will be acquired by the investors in the context of a capital increase, which will be formalized before a notary after the deadline expires fixed on the website for the acquisition of the capital offered. A period of one month is established from the exhaustion of the previous term for the realization of the capital increase. In case of error or notarial judgment in the enlargement process, an additional period of one month will be opened for the correction of the same.

All actions carried out through the web platform will be prior to the legal formalization of the Investment, which will be perfected through the execution of the capital increase in the promoted company.

In any case, throughout the investment process, Lignum Capital will send to the investor successive communications about the situation and the procedures to be followed for the formalization of the investment, notwithstanding that the promoter company and the investors agree a different procedure to formalize the investment.

The investment system through our platform works as follows:

  1. The investor decides to invest the money once he has found the project that best fits his interests and situation. The process is started through the "Invest in this project" tab.

  2. The investor must prove that he / she knows and understands the risks associated with this type of investments and ratifies in the website the investment risk notice that is displayed on the screen. In case of not validating the risk warning, you will not be able to continue with the investment process and the process will end. In this way, Lignum Capital guarantees that the investor receives and accepts a specific communication in which it is warned, in a clear and understandable way, of the following circumstances:

    1. The participatory financing project is not subject to authorization or supervision by the National Securities Market Commission nor by the Bank of Spain and the information provided by the promoter has not been reviewed by these Institutions.

    2. In the case of issuance of securities, this is not subject to authorization or supervision by the National Securities Market Commission and the information provided by the issuer has not been reviewed by the National Securities Market Commission nor constitutes prospectus information approved by the National Securities Market Commission.

    3. The existence of risk of total or partial loss of the invested capital, risk of not obtaining the expected monetary return and liquidity risk to recover its investment.

    4. The invested capital is not guaranteed by the Investment Guarantee Fund or by the Deposit Guarantee Fund.

    5. Any others determined by the National Securities Market Commission.

  3. Once you have validated the risks that you voluntarily consent to assume, the investor must enter the amount that you want to invest in the project, which will be subject to the following restrictions:

    1. The non-accredited investor can not invest more than 3,000 Euros for each project, and their accumulated investment in different projects can not exceed 10,000 Euros in a period of 12 months. To this end, the Lignum Capital automated system keeps automated accounting of the accumulated amount of investment of each user and does not allow these amounts to be exceeded.

    2. The accredited investor who has satisfactorily fulfilled the requirements of section 4 and enjoys this status, will not have personal restrictions on his investment. However, those who do not provide funding for a participatory financing platform project within 12 months will lose their status as credited, although they may recover it when they meet the requirements set forth in paragraph 4. Likewise, they may lose the consideration of creditors when they so request in writing.

    3. It is not possible to invest beyond the target amount that would have been defined in the campaign, except that a maximum of overfunding is established, in which case the amount that will result will be the allowed limit of the campaign.

  4. Once the amount that you wish to invest and validated the risk warning has been set by the investor, the investor must assume a purchase option on the capital that he wishes.

    The purchase option will be governed by the following conditions:

    1. Provides the right to invest in the capital increase and acquire the share capital of the company corresponding to the amount invested, becoming a partner thereof, and receiving in return the shares or other corresponding equity securities.

  5. The amount that the investor would have established to invest will be reserved to your name and you will be able to observe how the investment bar of the campaign is completed in the web page.

    The investor must wait until the financing campaign has been closed on the website, which may end in any of the following circumstances:

    1. That the project has reached its objective level of investment, that is, that at least NINETY PERCENT (90%) of the funding required for said project has been achieved within the established period.

    2. That the period established in the web elapse to obtain the Investment Objective with respect to a certain project without having been reached that Investment Objective.

  6. Once closed the campaign:

    1. Lignum Capital will send an informative mail to all the investors committed to the campaign who would have acquired the purchase option. The e-mail will inform them of the success of the campaign and the closing of the financing round. They will be attached the relevant information regarding the promoter company in which they will invest, which will be composed of the bylaws, the partners pact, valuation of the company and the minutes of the general meeting approving the enlargement. It will also indicate in the mail the deadline to go to the capital increase of the company in which you want to invest, which will be 15 calendar days from the receipt of the aforementioned mail.

    2. If you do not go to the enlargement or go partially, you will lose the proportional part of the guarantee and must communicate it via mail within 15 days, expressly stating your willingness to NOT invest.

    3. In the event that the deadline for financing the campaign has been exhausted without being able to finance the target amount, the failure of the campaign and the return of the guarantees will be communicated via email.

  7. Once all the contributions have been made by the investors and the period of two weeks has expired, the promoters will request the bank on the following business day (excluding Saturday, Sunday and holidays) and the certificate of contribution, which will be the proof of the contribution of the committed capital by the investors.

  8. On the due date, which will be communicated in advance to the investors, the public increase of the capital increase will be effected, before a notary, thus completing the investment process and converting the investor into a partner of the company.

    Legally, the investment made by the investors in the promoted company is channeled through a capital increase for monetary contributions that are divided into the nominal part and the corresponding premium.

    The increase represents an increase in the company's share capital, thus creating the newly promoted company which are the object of the investment and which will be assumed by the investors, who will receive, along with those, the rights corresponding to their new membership status.

5.2. How to structure the capital increase and the formalization of the investment.

Once the investors' will has been ratified, by means of the timely entry of their contributions to the capital, having made available to the promoter the funds that will receive the remuneration of the invested capital, the promoted society will adopt through an agreement at the General Meeting (i) the capital increase and (ii) the amendment of the Bylaws that, according to the agreement of partners and the conditions established in the campaign, is mandatory.

On the date established for the public disclosure of the different agreements, including the capital increase and the statutory amendment, the notary elected to this effect will appear the administrators or, if applicable, the representatives of the administrative body of the promoted company, thus formalizing before the Notary, the resolutions adopted at the meeting. The participation of the investors in this act will not be necessary, as the appropriate Orders of Assumption of the shareholdings have been made and the corresponding amounts have been disbursed, with the consequent certificate of contributions available, which would have been sent to the investors before the extension.

Once the process of elevation to the public has been concluded and once the public deeds have been made available, attesting to the operation carried out, they will be presented to the Mercantile Registry corresponding to the registered office of the promoted company, for registration.

Finally, the new investors will be registered in the Book of Members of the entity, which is responsible for the administrators or, where appropriate, the representatives of the administrative body.

5.3. Certification of investment.

Once completed the process of the extension, the promoted company must send to investors and Lignum Capital a simple copy of the following documents:

  1. A copy or certificate of the deeds containing the capital increase and the other agreements signed.

  2. A copy of the new Bylaws.

  3. A copy of the partnership agreement signed by all investors.

The investor recognizes that as a consequence of its investment and therefore of becoming a partner of the promoted company, it is subject to the provisions contained in all the documentation referred to above, assuming the rights and obligations that correspond to it as a partner.

VI. AVAILABLE INFORMATION ABOUT THE CAMPAIGN

Projects eligible for investment, available on the Lignum Capital website, must contain at least a concise description, in non-technical language, which provides the information necessary to enable a reasonable investor to have a well-founded judgment on the financing decision.

In addition to a concise description of the project, the financing campaigns appearing on the website will contain the following information:

  1. Title of the campaign.

  2. Description of the company, its corporate bodies and the plan of activities, through a PPT presentation, an explanatory video and an executive summary.

  3. Identity and curriculum vitae of the administrators and directors.

  4. Form of social organization.

  5. Number of employees.

  6. Description of the financial situation.

  7. Structure of social capital and indebtedness.

  8. The Bylaws, in case of their existence.

  9. The partnership agreement with which they will go to the enlargement, if there was one.

  10. Objective amount to be financed and percentage of participation offered in the company and maximum limit of over financing if any.

  11. Valuation of the promoted company (post Money).

  12. Logo and trademark, in case of its existence.

  13. Duration in days of the campaign.

With regard to the nature of the securities issued, the financing campaign shall specify the following:

  1. Description of the type and class of the securities offered and, if any, the identification code of the value.

  2. A brief description of the essential characteristics and risks associated with investing in the securities in question.

  3. Indication of whether the securities are represented in the form of securities or book entries. In the first case, the name of the custody entity will be indicated. In the latter case, the name and address of the entity responsible for keeping the corresponding annotations shall be indicated. In both cases, the rates applicable to these services will be indicated.

  4. Description of the rights related to the values and their form of exercise, including any limitation of those rights. It will include information on the amortization and remuneration of the securities or their calculation method when it is not possible to publish it previously, repurchase agreements and limitations on the sale.

  5. In its case, the guarantees provided.

With respect to the nature of the corporate by-laws of the promoted companies, they must regulate the following rights of the partners:

  1. They will recognize the right to attend the Meeting by telematic means, in the terms set forth in article 182 of the consolidated text of the Capital Companies Act.

  2. Recognize the right of representation at the General Meeting by any person.

  3. They shall establish that shareholders agreements that have as their object the exercise of voting rights at General Meetings or that have a bearing on the transferability of shares, social shares or other representative securities shall be immediately communicated to the shareholders' Company and by the other partners.

  4. Statutory clauses that violate the provisions of article 80 of the Law for the Promotion of Financing will be null and void.

All the information contained in the web page relating to the projects promoted has been provided in any case by the promoting societies. The sponsoring societies are committed to ensuring that the information they provide about the projects is clear, timely, sufficient, objective and not misleading. In any case, the promoters will be responsible to investors for the information they provide to this participatory funding platform for publication.

For its part, Lignum Capital undertakes to transfer and contribute through the web or via email all the information related to the projects that it receives from the promoting societies.

The information will be communicated in a general way via email or through a publication accessible to registered investors in the campaign itself. The information that is sent through the comment box to one or several investors in response to the same questions will be accessible to other potential investors through their publication in an easily visible place of the campaign.

Lignum Capital also undertakes to keep updated on its website daily the status of participation in the project as well as the percentage of funding that has been assumed by investors who are considered accredited and by the platform itself. Once the deadline established for the investment has expired, Lignum Capital will inform about it in the space of the web page reserved for the corresponding project.

In any case, the information received and published on a project will be available to investors on a continuous basis on the website for a period of not less than twelve months from the closing of fund raising. In addition, Lignum Capital undertakes to make available to investors on request the information provided in this item, which will be stored in a durable medium for a period of not less than five years from the closing of fund raising.

VII. RESOLUTION.

  1. Lignum Capital reserves the right to promote the unilateral resolution of these Terms and Conditions and resolve the relationship with the investor in the following cases:

    1. Failure to comply with the terms and conditions established by the investor.

    2. On a well-founded suspicion or knowledge and evidence that the investor has been involved in any illegal or criminal activity and suspects or knows that the proceeds of the amounts contributed as an investment were originated from criminal activities or were carried out in the context of a money laundering and in order to launder the amounts invested.

    In any of the above cases, Lignum Capital will reimburse the guarantees that the investors have contributed, losing them their rights to participate in the capital of the promoter company.

  2. The investor may waive all or part of its right to participate in the capital of the promoter company at any time, assuming the consequent loss of the guarantee provided.

  3. The investor may at any time waive its status as a user of the web platform by completing the withdrawal form. Your account will be closed, the termination of your Access Data and no further notifications will be made via email.

    In the event that the investor is a low investor, pending the formalization of an investment that he has made, he will lose his right to participate in the capital of the promoter company and Lignum Capital will proceed to the reimbursement of the guarantee provided.

VIII. INTERPRETATION

This "Terms and Conditions" document will be governed by and construed in accordance with Spanish law.

Any doubt, question or divergence that may arise in the interpretation and fulfillment of the provisions of this private document shall be submitted to arbitration in accordance with the corresponding legislation.

Likewise, for such matters, the parties, with waiver of any other jurisdiction that may correspond, are expressly submitted to the Courts and Tribunals of Madrid.