Fineqia Closes Final Tranche of Private Placement in Nearly 1.5x Oversubscribed Round

Rhea-AI Summary

Fineqia announces successful closing of non-brokered private placement, exceeding target

Positive

• Fineqia has successfully closed its non-brokered private placement, raising C$1,454,598.61, exceeding its initial target of C$1 million.
• Investor interest has led to an overallotment of C$454,598.61, resulting in 45,459,598.61 Units.
• Proceeds from the Offering will be used to enhance the Company's working capital.

Negative

• None.

VANCOUVER, BC, Sept. 15, 2023 /PRNewswire/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) the digital asset and fintech investment business, announces the closing of its non-brokered private placement (the "Offering") via its third and final tranche, which has exceeded its original target. The Company had initially aimed to raise C$1 million, but due to investor interest, it has exceeded its target to raise C$1,454,598.61.

The Company has issued 55,015,836 Units (the "Units") to raise gross proceeds of C$550,158.36 and conversion of external debt of C$5,000 in this tranche. This follows the closure of the Company's second tranche on Aug. 15, 2023, for C$309,696, and the first tranche on Jun. 30, 2023, for C$594,744.25.

"We're excited to announce the successful closure of our third and final private placement phase," said Fineqia CEO, Bundeep Singh Rangar. "Our steadfast investors continue to drive our mission to revolutionize finance."

The success of the private placement led to an overallotment of C$454,598.61, 45,459,598.61 Units.

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.

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

The proceeds from the Offering will be used to enhance 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 offered or sold in the United States or to, or for the account or benefit of, a U.S. person or person in the United States (as such terms are defined in regulations under the 1933 Act), absent an exemption from the registration requirements of the 1933 Act and applicable state laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information, visit www.fineqia.com

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.

FORWARD-LOOKING STATEMENTS

Some statements in this release may contain forward-looking information (as defined under applicable Canadian securities laws) ("forward-looking statements"). All statements, other than of historical fact, that address activities, events or developments that Fineqia (the "Company") believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by 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 on 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, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the failure to obtain sufficient financing, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement except to the extent required by applicable securities laws.

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SOURCE Fineqia International Inc.