Fineqia announces proposed private placement of up to $1 million

2023-04-29 01:56:45

Vancouver, Bc (ots/PRNewswire) – Fineqia International Inc. (“Fineqia” or the “Company”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA), the digital asset and fintech investment company, is pleased to announce that it intends to To complete a non-brokered private placement (the “Offering”) of up to 100,000,000 units (the “Units”) at a price of C$0.01 per Unit for gross proceeds of up to C$1,000,000.

Each Unit consists of one common share of Fineqia (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each warrant is exercisable for a period of three years from the closing of the placement and entitles the holder to purchase one common share at an exercise price of $0.05 per common share.

The Company may, at its sole discretion, advance the expiration date provided that the closing price is at or above $0.10 per share at any time following four months and one day from the issuance of the warrant within a period of 20 consecutive trading days. Warrant holders will be notified by a Company press release announcing such an advance. In this case, the expiry date is the 20th day following the date of publication of the press release.

Fineqia intends to use the proceeds from the private placement for working capital purposes and to reduce debt.

All references to dollars ($) are to Canadian dollars (C$).

The issuance of certain Units to directors and officers of the Company pursuant to the Offering will each be treated as a “Related Party Transaction” under Multilateral Instrument 61-101 – Protection of minority shareholders in special transactions („MI 61-101“). The Company will avail itself of the exemptions from the evaluation and approval requirements for minority shareholders set forth in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 with respect to the issuance of Units to directors and officers.

These securities have not been and will not be listed under the amended United States Securities Act of 1933 (the “1933 Act“). Accordingly, these securities may not be offered or sold in the United States, or to any U.S. person or person in the United States (as such terms are defined in the regulations of the 1933 Act), unless it is located provides an exemption from the registration requirements of the 1933 Act and applicable state laws.This press release constitutes neither an offer to sell nor the solicitation of an offer to buy any securities in the United States or in any jurisdiction where such an offer is made , such solicitation or sale would be unlawful.

About Fineqia International Inc.

Fineqia (www.fineqia.com) is a digital asset company that makes targeted investments in early and growth stage technology companies that will be part of the next generation of the Internet. It also provides a platform to support and manage UK debt issuance. Fineqia is a Canadian public company (CSE: FNQ) with offices in Vancouver and London. The investment portfolio includes companies that are leaders in tokenization, blockchain technology, NFTs and fintech.

ON BEHALF OF THE BOARD OF DIRECTORS OF FINEQIA

Bundeep Singh Rangar

Managing Director and Director

T. [phone]

FORWARD LOOKING STATEMENTS

Certain statements in this press release may contain forward-looking information (as defined under applicable Canadian securities laws) (forward-looking statements). Any statements, other than statements of historical fact, relating to activities, events or developments that Fineqia (the Company) believes, expects or foresees will occur or may occur in the future (including but not limited to statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “Project” or the negative of these words or other variations of these words or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict and which may cause the Company’s actual results might differ materially from those projected in the forward-looking statements Factors that might cause actual results or events to differ materially from current expectations include, without limitation, failure to obtain adequate financing and other risks detailed in the Company’s public disclosure filings with relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made, except as required by applicable securities laws. The Company disclaims any intention or obligation to update any forward-looking statement, except as required under applicable securities laws.

Questions & contact:

Contact:
Katarina Kupcikova, Analystin, [e-mail], T. [phone]; Media contact: Angus Campbell, Nominis Advisory, [e-mail]
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