Fineqia closes second tranche of private placement, boosting company growth

2023-08-15 22:36:21

Vancouver, Bc (ots/PRNewswire) – Fineqia International Inc. (the “Pursue” or “Phoenicia“) (CSE: FNQ) (OTC: FNQA) (Frankfurt: FNQQF), a digital asset and fintech investment firm, announced the second tranche of its non-trading private placement (,,Offer“) for a cumulative increase of CAD$309,696.

The Company issued 30,969,600 units and received gross proceeds of $308,996 and paid finder’s fees of $700 in this tranche. This follows the closing of the Company’s first tranche, which was announced on June 30th. It had 58,527,500 units (the “Units”) issued and raised gross proceeds of $585,275 and paid finder’s fees of $9,469.25. This represents a cumulative issuance of Units valued at $594,744.25.

“Fineqia is pleased to announce the successful completion of our second tranche of private placement, marking another milestone on our journey,” said Bundeep Singh Rangar, CEO of Fineqia. “We are grateful for the continued trust and support of our investors that reinforce our commitment to reshaping the future of finance.”

The final closing of the private placement will be extended to September 15 to allow Fineqia to accommodate investors during the summer holiday period should they encounter any difficulties. This extension ensures that interested parties have sufficient time to take advantage of this investment opportunity.

Each unit sold or to be sold pursuant to the Offering consists of one common share of the Company at a price of $0.01 and one stock purchase right (“Warrant”) exercisable for three years at a price of $0.05 per 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 for a period of 20 consecutive trading days at any time following four months and one day from the issuance of the Warrants. Warrant holders will be notified by a Company press release announcing such early expiry. In this case, the expiry date is the twentieth day following the date of publication of the press release.

Proceeds from the offering will be used to increase the Company’s working capital.

These securities have not been and will not be listed under the United States Securities Act of 1933, as amended (the “Act of 1933“). 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 is an exemption from the registration requirements of the 1933 Act and applicable state laws.This press release constitutes neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or in any jurisdiction in which a such offer, solicitation or sale would be unlawful.

About Fineqia International Inc.

Phoenicia (www.fineqia.com) is a digital assets company that makes investments in early and growth stage technology companies that will be part of the next generation of the internet. In addition, the company provides a platform to support and manage the issuance of UK debt securities. Fineqia is publicly listed in Canada (CSE: FNQ) and has offices in Vancouver and London. Fineqia’s investment portfolio includes leading companies in tokenization, blockchain technology, NFTs, AI and fintech.

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 that are not historical facts and relate to activities, events or developments of which Fineqia (the ” Company”) believes, expects or anticipates that any of these will 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 identified by the use of 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. These might cause the Company’s actual results to differ materially from those in the forward-looking statements. Factors that might cause actual results or events to differ materially from current expectations include, without limitation, failure to raise sufficient funds and other risks described in public disclosures filed with relevant securities regulatory authorities of the company are listed. Any forward-looking statement speaks only as of the date on which it is made, except as required by applicable securities laws. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

Questions & contact:

Media contact:
Angus Campbell, Name Advisory, [e-mail]; Katarina Kupcikova, Analystin, E. [e-mail], T. [phone]; Bundeep Singh Rangar, CEO, E. [e-mail], T. [phone]
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