Fineqia Announces Intention to Close Private Placement on Oct. 31, 2024

Rhea-AI Summary

Fineqia International (CSE: FNQ) (OTC: FNQQF) has announced plans to close its non-brokered private placement on October 31, 2024. The offering consists of units comprising one common share and one warrant, with each warrant exercisable for three years at $0.05 per share. The placement aims to raise C$1.5 million through issuing 150,000,000 units. The company can accelerate the warrant expiry if shares trade at or above $0.10 for 20 consecutive trading days. The offering includes participation from company directors and officers under MI 61-101 exemptions.

Positive

• Expected to raise C$1.5 million in capital funding
• Significant interest received from qualified investors
• Three-year warrant term provides extended investment flexibility

Negative

• Potential dilution of existing shareholders through issuance of 150,000,000 units
• Related party transactions with directors and officers may raise governance concerns

Vancouver, British Columbia--(Newsfile Corp. - October 27, 2024) - Fineqia International Inc. (CSE: FNQ) (OTC: FNQQF) (FSE: FNQA) (the "Company" or "Fineqia"), the digital asset and fintech investment business, announces its intention to close its non-brokered private placement (the "Offering") of units ("Units") on Oct. 31, 2024. This follows the initial announcement of the Private Placement made on July 22, 2024.

Each Unit consists of one common share of Fineqia (a "Common Share") and one warrant to purchase one Common Share (a "Warrant"). Each Warrant will be exercisable for a period of three years from the closing of the Offering at an exercise price of $0.05 per Common Share.

The private placement underway is expected to raise or exceed C$1.5 million through the issuance of 150,000,000 Units. The Company has received significant interest from qualified investors and is confident in reaching or exceeding its fundraising target.

The Company may, at its option, accelerate the expiry date, provided that closing price trades 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 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.

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 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/227985

FAQ

When will Fineqia (FNQQF) close its private placement offering?

Fineqia plans to close its private placement offering on October 31, 2024.

How much is Fineqia (FNQQF) aiming to raise in its private placement?

Fineqia aims to raise C$1.5 million through the issuance of 150,000,000 units.

What is the warrant exercise price for Fineqia's (FNQQF) private placement?

The warrant exercise price is C$0.05 per Common Share, valid for three years from the closing date.