08:31:21 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Fineqia International Inc
Symbol FNQ
Shares Issued 1,354,563,299
Close 2023-08-14 C$ 0.01
Market Cap C$ 13,545,633
Recent Sedar Documents

Fineqia closes $309,696 2nd tranche of financing

2023-08-15 15:58 ET - News Release

Mr. Bundeep Rangar reports

FINEQIA CLOSES 2ND TRANCHE OF PRIVATE PLACEMENT, ADDING MOMENTUM TO COMPANY'S GROWTH

Fineqia International Inc. has closed the second tranche of its non-brokered private placement for a cumulative raise of C$309,696.

The Company has issued 30,969,600 Units to raise gross proceeds of C$308,996 and payment of finder's fees worth C$700 in this tranche. This follows the closure of the Company's first tranche, announced on June 30, which issued 58,527,500 units (the "Units") to raise gross proceeds of C$585,275 in the first tranche of the private placement and payment of finder's fees worth C$9,469.25, for a cumulative issuance of C$594,744.25 worth of units.

"Marking another milestone on our journey, Fineqia is excited to announce the successful closure of our second tranche of private placement, said Bundeep Singh Rangar, CEO of Fineqia. We are grateful for the continued trust and support of our investors, which fuels our drive to reshape the future of finance."

The final closure of the private placement is extended until September 15, allowing Fineqia to accommodate investors amidst the challenges posed by the summer holiday season. This extension ensures that interested parties have ample time to participate in this investment opportunity.

Each Unit sold or to be sold in the Offering consists of one common share of the Company priced at C$0.01 and one share purchase warrant (a "Warrant") exercisable for three years at a price of C$0.05 per share.

The Company may, at its option, accelerate the expiry date of the Warrants, provided that the closing price of the common shares is at or above C$0.10 per share for any 20 consecutive trading day period at any time after four months and one day after the issuance of the Warrants. 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.

The proceeds from the Offering will be used to enhance the Company's working capital.

About Fineqia International Inc.

Fineqia (www.fineqia.com) is a digital asset business that builds and targets 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 the issuance of debt securities in the UK. Publicly listed in Canada (CSE: FNQ) with offices in Vancouver and London, Fineqia's portfolio of investments includes businesses at the forefront of tokenization, blockchain technology, NFTs, AI, and fintech.

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