Fineqia Closes First Tranche of Private Placement; Announces 2023 AGM Votes
The Company issued 58,527,500 units (the "Units") to raise gross proceeds of
At the AGM, a total of 874,406,102 common shares, which represents
"We're grateful to the remarkable number of shareholders who've endorsed us," said Bundeep Singh Rangar, CEO 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 (3) for the year. Shareholders present in person or represented via proxy at the Meeting voted as follows:
Number of Shares | Percentage of Votes Cast | ||||
For | Against | Withheld/Abstain | For | Against | Withheld/Abstain |
860,838,136 | 13,567,966 | 0 | 98.45 % | 1.55 % | 0.00 % |
All three (3) 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 follows:
Nominee | Number of Shares | Percentage of Votes Cast | ||||
For | Against | Withheld/Abstain | For | Against | Withheld/Abstain | |
Bundeep Singh Rangar | 861,586,38 | 3,781,306 | 0 | 99.56 % | 0.44 % | 0.00 % |
Martin Graham | 852,866,08 | 12,501,60 | 0 | 98.56 % | 1.44 % | 0.00 % |
Brij Chadda | 862,755,28 | 2,612,400 | 0 | 99.70 % | 0.30 % | 0.00 % |
Appointment of Auditors 2023
Baker Tilly WM LLP was appointed auditor of the Company for the ensuring year and to authorize the directors to fix their remuneration. Shareholders present in person or represented via proxy at the Meeting voted as follows:
Number of Shares | Percentage of Votes Cast | ||||
For | Against | Withheld/Abstain | For | Against | Withheld/Abstain |
873,881,247 | 524,855 | 0 | 99.94 % | 0.06 % | 0.00 % |
Approval of Rolling Stock Option Plan 2023
The resolution to ratify, confirm and approve the Company's
Number of Shares | Percentage of Votes Cast | ||||
For | Against | Withheld/Abstain | For | Against | Withheld/Abstain |
847,941,820 | 17,425,869 | 0 | 97.99 % | 2.01 % | 0.00 % |
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 Apr. 28 for the issuance of up to 100,000,000 units.
Each Unit consists of one common share of Fineqia (a "Common Share") priced at
The Company may, at its option, accelerate the expiry date, provided that closing price trades at or above
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 Bundeep Singh Rangar, CEO of Fineqia."
All references to dollars ($) above are to Canadian dollars (C$).
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 ("MI 61-101"). 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.
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
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
Media Contact
Angus Campbell
Nominis Advisory
angus@nominis.co
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.