Mr. Bundeep Rangar reports

FINEQIA CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT; ANNOUNCES 2023 AGM VOTES

Fineqia International Inc. has closed the first tranche of its non-brokered private placement. The company has also disclosed the results of the 2023 annual general meeting held on June 28, 2023.

The company issued 58,527,500 units to raise gross proceeds of $585,275 in the first tranche of the private placement, and paid finder's fees worth $9,469.25, for a cumulative issuance of $594,744.25 worth of units.

At the AGM, a total of 874,406,102 common shares, which represents 67.52 per cent of the company's issued shares, were present, marking a 21.5-per-cent increase compared with the 55.57 per cent of votes cast in the 2022 AGM. Amongst those who voted, between 97.99 per cent and 99.94 per cent voted in favour of the resolutions.

"We're grateful to the remarkable number of shareholders who've endorsed us," said Bundeep Singh Rangar, chief executive officer of Fineqia. "Their support is invaluable for us to execute on our plans."

Election of directors 2023

The number of directors of the company has been fixed at three for the year. Shareholders present in person or represented via proxy at the meeting voted as shown in the associated table.

All three nominees listed in the information circular for the meeting were elected as directors of the company. Shareholders present in person or represented via proxy at the meeting voted as shown in the associated table.

Appointment of auditor 2023

Baker Tilly WM LLP was appointed auditor of the company for the ensuring year and shareholders authorized the directors to fix their remuneration. Shareholders present in person or represented via proxy at the meeting voted as shown in the associated table.

Approval of rolling stock option plan 2023

The resolution to ratify, confirm and approve the company's 20 per cent rolling stock option plan was approved. Shareholders present in person or represented via proxy at the meeting voted as shown in the associated table.

After the formal end to the AGM, the board was available to answer questions.

Private placement

The first tranche is part of the private placement announced on April 28 for the issuance of up to 100 million units. Each unit consists of one common share of Fineqia priced at one cent per share and one warrant exercisable at five cents to purchase one common share for a period of three years from the closing of the offering.

The company may, at its option, accelerate the expiry date, provided that closing price trades at or above 10 cents per share for any 20-consecutive-trading-day period at any time after four months and one day after the issuance of the warrant. Warrant holders will be notified by the issue of a press release by the company announcing such acceleration. In such a situation, the expiry date shall be deemed to be the 20th day following the date of issuance of the press release.

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

"We're embracing growth opportunities emanating from the rapid interaction of new technologies such as artificial intelligence and blockchain with financial services and capital markets," said Mr. Rangar, chief executive officer of Fineqia.

The issuance of certain of the units to directors and officers of the company pursuant to the offering will each be considered a related-party transaction as defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company will rely upon exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, with respect to the issuance of the units to the directors and officers.

About Fineqia International Inc.

Fineqia is a digital asset business that builds and targets investments in early-stage 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 the issuance of debt securities in the United Kingdom. Publicly listed in Canada with offices in Vancouver and London, Fineqia's portfolio of investments includes businesses at the forefront of tokenization, blockchain technology, NFTs (non-fungible tokens), AI (artificial intelligence) and fintech (financial technology).

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