Fineqia Announces Proposed Private Placement of Up to $4 Million

Rhea-AI Summary

Fineqia International Inc., based in Vancouver, announced a non-brokered private placement to raise up to $4,000,000 by selling up to 400,000,000 units at $0.01 per unit. Each unit consists of one common share and a warrant exercisable at $0.05 for three years. Proceeds will enhance working capital and reduce debt. Additionally, creditors may receive common shares worth approximately $100,000 for prior services, priced at $0.05 to insiders and $0.01 to third parties.

Positive

• Plans to raise up to $4 million, improving liquidity.
• Debt reduction expected through share issuance for past services.

Negative

• The need for private placement may indicate financial instability.

VANCOUVER, BC, Dec. 9, 2021 /PRNewswire/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is pleased to announce that the Company has arranged a non-brokered private placement (the "Private Placement") of up to 400,000,000 units of the Company ("Units") to be sold at a price of $0.01 per unit to raise gross proceeds of up to $4,000,000.

Each Unit consists of one common share and one share purchase warrant exercisable for three years at $0.05 per share. The Company may, at its option, accelerate the expiry date, provided that closing price trades at or above $0.15 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.

The proceeds from the private placement will be used to enhance the Company's working capital as well as pare down debt. Fineqia also announces that, subject to regulatory approval, certain creditors have agreed to accept common shares of the Company for past consulting and other services provided to Fineqia totalling approx. $100,000 by the issuance of common shares at a deemed price of $0.05 per common share to insiders and $0.01 per common share to third parties.

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.

About Fineqia International Inc.

Fineqia Investments Ltd is a wholly owned subsidiary of Fineqia International set up to hold the Company's growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.

Fineqia International is a listed entity in the Canada (CSE: FNQ), US (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International outlines the Company's corporate governance, culture, processes and relations by which the Company and its subsidiaries and investments are controlled, directed and governed. Fineqia International oversees and ensures the overall success, planning and growth of the Company and all of its subsidiaries.

For more information, visit www.fineqia.com

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.

FAQ

What is the purpose of Fineqia's private placement on Dec. 9, 2021?

The private placement aims to raise up to $4 million to enhance working capital and reduce debt.

What are the terms of the units offered in the private placement by Fineqia?

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

How much debt will Fineqia address through the private placement?

Fineqia plans to address approximately $100,000 in creditor debt through the issuance of common shares.

What is the stock symbol for Fineqia International?

Fineqia International trades under the stock symbol FNQQF on the OTC.