FINEQIA CLOSES 2ND TRANCHE OF PRIVATE PLACEMENT WITH STRATEGIC INVESTOR
On October 12, 2022, Fineqia International Inc. (CSE: FNQ, OTC: FNQQF) announced the closing of the second tranche of its non-brokered private placement, raising a cumulative total of C$4,546,224. The second tranche alone contributed C$4,201,224 by issuing 420,122,400 Units, with Wavemaker Genesis Master Fund Ltd. participating in 15%. The proceeds will enhance working capital and reduce debt. Each Unit sold consists of one common share and a Warrant exercisable at C$0.05 for three years.
- Raised C$4,546,224 in total through the private placement.
- Wavemaker Genesis Master Fund Ltd.'s participation aligns interests and strengthens investor base.
- None.
VANCOUVER, BC, Oct. 12, 2022 /PRNewswire/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) announces the second tranche (the "Second Tranche") of its non-brokered private placement (the "Offering"), for a cumulative raise of C
Investors include the Wavemaker Genesis Master Fund Ltd, a fund managed by Wave Financial, LLC, one of the top regulated crypto asset managers worldwide, which subscribed to
"We're delighted to have exceeded our initial target and very excited to have important and relevant shareholders on board," said Fineqia CEO Bundeep Singh Rangar. "This paves the way for growth with the right people batting on our side and our interests aligned."
The closing of the second tranche follows the upsize of the Offering to C
Each Unit sold or to be sold in the Offering consists of one common share of the Company and one share purchase warrant (a "Warrant") exercisable for three years at a price of C
The proceeds from the Offering will be used to enhance the Company's working capital as well as pare down debt.
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.
Fineqia is a listed entity in the 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 currently building out its alternative finance business and it currently holds a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
For more information, visit www.fineqia.com
Wave Financial, LLC (Wave) is a Los Angeles based investment management company that provides institutional and private wealth digital asset solutions. Led by a team of highly experienced financial services professionals, Wave provides investable funds via their diverse investment strategies applied to digital assets and tokenized real assets. Wave also offers managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services, and early-stage venture capital and strategic consultation to the digital asset ecosystem. Wave is federally regulated by the US Securities & Exchange Commission as an investment adviser.
ON BEHALF OF THE FINEQIA BOARD
Bundeep Singh Rangar
CEO and Director
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.
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