Fineqia International Completes Oversubscribed Private Placement

Rhea-AI Summary

Fineqia International has successfully closed its non-brokered private placement, raising $2.1 million, exceeding its initial target of $1.5 million by 40%. The company issued 210,274,600 Units at $0.01 each, comprising one common share and one share purchase warrant exercisable for three years at $0.05 per Unit. The offering generated $1,926,734.89 in gross proceeds and converted $171,111.11 in external debt. The proceeds will be used to enhance the company's working capital. The company maintains the option to accelerate warrant expiry if share prices maintain $0.10 or higher for 20 consecutive trading days.

Positive

• Oversubscribed private placement raising $2.1M, exceeding target by 40%
• Successful conversion of $171,111.11 external debt
• Secured additional working capital for operations

Negative

• Significant share dilution through issuance of 210,274,600 new units
• Low unit pricing at $0.01 per share indicates potential undervaluation

Vancouver, British Columbia--(Newsfile Corp. - November 1, 2024) - Fineqia International Inc. (CSE: FNQ) (OTC: FNQQF) (FSE: FNQA) (the "Company" or "Fineqia"), a leading digital asset and investment business, announces the closing of its non-brokered private placement (the "Offering"), exceeding its target of $1.5 million by 40% and raising $2.1 million.

The Company issued 210,274,600 Units (the "Units") yesterday to raise gross proceeds of $1,926,734.89 and convert external debt of $171,111.11 for a $2,102,746 total. Each Unit sold in the Offering consisted of one common share of the Company priced at $0.01 and one share purchase warrant (a "Warrant") exercisable for three years at a price of $0.05 per Unit.

"This is a proof point of investor enthusiasm," said Fineqia CEO Bundeep Singh Rangar. "With valuable investors as the wind in our sails, we're charting a bold course towards innovative products and advancements that will positively shape the digital asset industry."

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 $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.

The private placement was initially announced on July 22, 2024.

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. Publicly listed in Canada (CSE: FNQ) with quoted symbols on the Nasdaq and the Frankfurt Stock Exchange, Fineqia's portfolio of investments includes businesses at the forefront of tokenization, blockchain technology, NFTs, AI, and fintech. Fineqia's VC fund in formation, Glass Ventures, backs category-defining Web 3.0 and Web 4.0 companies built by world-class entrepreneurs. https://twitter.com/FineqiaPlatform and https://www.linkedin.com/company/fineqia/.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Katarina Kupcikova, Marketing & Communications Manager
E. katarina.kupcikova@fineqia.com
T. +44 7806 730 769

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. Crypto assets are generally unregulated, subject to sudden and significant changes in value and carry a high risk of total loss of the investment. As these are unregulated assets, investors are unlikely to have recourse to any regulatory protections or access to investor compensation schemes. If you are unsure as to the appropriateness of these assets for your circumstances, you should take independent financial and legal advice. Fineqia Inc is not a crypto asset exchange and is not registered with any Authority as such. This material is general economic commentary and does not constitute a recommendation to buy, sell or otherwise transact in any of the assets discussed.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228582

FAQ

How much did Fineqia International (FNQQF) raise in its latest private placement?

Fineqia International raised a total of $2.1 million, exceeding its initial target of $1.5 million by 40%.

What are the terms of Fineqia's (FNQQF) private placement units?

Each unit consists of one common share priced at $0.01 and one warrant exercisable for three years at $0.05 per unit.

When can Fineqia (FNQQF) accelerate the warrant expiry date?

Fineqia can accelerate warrant expiry if the common shares trade at or above $0.10 for any 20 consecutive trading days after the initial 4-month period.