2023-09-16 00:52:05
Vancouver, BC. (ots/PRNewswire) – Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA), a digital assets and fintech investment company, announces the closing of its non-brokered private placement (the “Offering”) for the third and final tranche, which exceeded the initial target. The Company originally intended to raise C$1 million, but due to strong interest from investors, it exceeded its target and raised C$1,454,598.61.
The Company issued 55,015,836 units (the “Units”) to raise gross proceeds of $550,158.36 and convert $5,000 of debt capital in this tranche. This round follows the closing of the Company’s second tranche on August 15, 2023 for CAD 309,696 and the first tranche on June 30, 2023 for CAD 594,744.25.
“We are pleased to announce the successful completion of our third and final private placement phase,” said Fineqia CEO Bundeep Singh Rangar. “Our loyal investors continue to support us in our mission of revolutionizing the financial sector.”
The success of the private placement resulted in an over-allotment of 45,459,598.61 units valued at C$45,598.61.
Each Unit sold or to be sold in the Offering consists of one common share of the Company priced at $0.01 and one stock purchase option (a “Warrant”) exercisable for three years at $0.05 per share .
The Company may, at its sole discretion, advance the expiration date provided that the closing price is at or above $0.10 per share for a period of 20 consecutive trading days at any time following four months and one day following the issuance of the Warrants. Holders of Warrants will be notified by a press release from the Company announcing such early expiration. In this case, the expiry date is the 20th day following the date of publication of the press release.
All dollars ($) are Canadian dollars (C$, CAD).
Proceeds from the offering will be used to increase the Company’s working capital.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”). Accordingly, these securities may not be sold in the United States or to any U.S. person or to any person in the United States (as such terms are defined in the provisions of the 1933 Act) are offered or sold absent an exemption from the registration requirements of the 1933 Act and applicable state laws. This press release does not constitute an offer to sell constitutes a solicitation of an offer to buy securities in the United States or in any country in which such offer, solicitation or sale would be unlawful.
Further information can be found at www.fineqia.com.
Information regarding Fineqia International Inc.
Phoenicia (www.fineqia.com) is a digital assets company that specifically invests in early-stage or growth-stage technology companies that will be part of the next generation of the Internet. It also provides a platform to support and manage the issuance of debt securities in the UK. Fineqia is listed in Canada (CSE: FNQ) and has offices in Vancouver and London. Fineqia’s investment portfolio includes companies that are leaders in tokenization, blockchain technology, NFTs, AI and fintech.
Forward-Looking Statements
Some 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 relate to activities, events or developments that may affect Fineqia (the ” Company”) believes, expects or anticipates that 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 comparable 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 set forth in the forward-looking statements. Factors that might cause actual results or events to differ materially from current expectations include, without limitation, the failure to obtain sufficient financing, as well as other risks discussed in public disclosures filed with applicable 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 disclaims any intention or obligation to update any forward-looking statements except as required by applicable securities laws.
Questions & Contact:
Media contact:
Angus Campbell, Name Advisory, angus@nominis.co; Katarina Kupcikova, Analyst, E-Mail: katarina.kupcikova@fineqia.com, Tel.: +44 7806 730 769
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