FINEQIA ANNOUNCES SET UP OF LIECHTENSTEIN SUBSIDIARY; NEW CO. WEBSITE

Rhea-AI Summary

Fineqia International Inc. has established a wholly owned subsidiary, Fineqia AG, in Liechtenstein to expand its operations in Europe. This move allows Fineqia to utilize the favorable regulatory environment in Liechtenstein for digital assets. The new subsidiary aims to enable compliance with EU financial markets regulations. Additionally, Fineqia has extended its private placement closing date to December 10, 2022, due to health issues within its management. The company has also launched a revamped corporate website to enhance its online presence.

Positive

• Establishment of a subsidiary in Liechtenstein enhances European market access.
• Liechtenstein's favorable regulatory environment supports digital asset operations.
• New corporate website improves branding and online presence.

Negative

• Extension of private placement closing may indicate operational delays.

VANCOUVER, BC, Nov. 2, 2022 /PRNewswire/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) announces the setup of a wholly owned subsidiary Fineqia AG in Liechtenstein to pursue business on the European continent. The Company also announces a new corporate website to better reflect its business.

The new entity enables Fineqia to expand its business in the European Economic Area (EEA), in which Liechtenstein is a member. The country has created laws compatible with the European Union (EU) directives and regulations, enabling locally domiciled businesses to operate across various EU financial markets.

The Principality of Liechtenstein was one of the first countries in the world to provide regulation of the digital asset industry with the Blockchain Act in Jan. 2020. The law provides business with regulatory and legal clarity about blockchain related services, tokenisation of assets and rights including the classification of tokens based on the rights held in them such as utility, security or payment tokens. It also stipulates information requirements for public offerings.

"Seeds of innovation need a fertile ground to germinate," said Fineqia CEO Bundeep Singh Rangar. "Liechtenstein is proving to have such soil."

Liechtenstein scored highest for two years in a row in a global ranking by PricewaterhouseCoopers (PwC), an audit and consulting firm, that rated the comprehensiveness of tax guidance for cryptocurrencies in each country. PWC evaluated countries on 19 factors to determine the comprehensiveness of their policies on digital assets and transactions including taxation of mining, staking and NFTs.

Separately, Fineqia announces that the closing of its private placement of units representing stock and warrants for up to $5 million, has been extended to Dec. 10, 2022, on account of the health situation of the Company's CFO.

Fineqia also announced the publishing of an updated corporate website with new branding at www.fineqia.com.

About Fineqia International Inc.

Fineqia (www.fineqia.com) is a listed entity in Canada (CSE: FNQ), US (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia's strategic focus has been to provide a platform and associated services to support securities issuances and manage administration of debt securities. Fineqia is building out its alternative finance business and holds a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fineqia-announces-set-up-of-liechtenstein-subsidiary-new-co-website-301666420.html

SOURCE Fineqia International Inc.

FAQ

What is the significance of Fineqia's new subsidiary in Liechtenstein?

Fineqia's new subsidiary in Liechtenstein allows the company to expand its operations in the European Economic Area, leveraging favorable regulations for digital assets.

When does Fineqia's private placement close?

Fineqia's private placement of units has been extended to December 10, 2022.

What are the benefits of Liechtenstein's regulations for Fineqia?

Liechtenstein offers a clear regulatory framework for digital assets, facilitating compliance with EU financial market regulations.

How has Fineqia updated its corporate identity?

Fineqia has launched a new corporate website to better reflect its business and enhance branding.