- Fineqia (FNQ) closed the third tranche of its non-brokered private placement for gross proceeds of $431,856.90
- On a cumulative basis, the company has issued 499,725,810 units to raise gross proceeds of $4,756,105.90
- Fineqia provides a platform and associated services to support securities issuances and manage the administration of debt securities
- Fineqia International Inc. (FNQ) opened trading at C$0.005 per share
Fineqia (FNQ) closed the third tranche of its non-brokered private placement for gross proceeds of $431,856.90.
The company issued 43,185,690 units in this tranche. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable for three years at a price of $0.05 per share. Warrants issued are subject to an acceleration clause.
The closing of the third tranche follows the upsize of the offering to $5 million from $4 million, announced on Oct. 12, 2022. On a cumulative basis, the company has issued 499,725,810 units to raise gross proceeds of $4,756,105.90.
Bundeep Singh Rangar, CEO of Fineqia, commented on the news.
“We’ve been overwhelmed by the positive recognition received from current and new shareholders on the recent upsize of our private placement. The increased participation will allow us to continue executing on our growth plans.”
Fineqia will use the proceeds to enhance the company’s working capital.
The company has also converted debts of $221,975.00 and has issued 1,917,720 units as finder’s fees.
All securities issued will be subject to a four-month hold period.
Fineqia provides a platform and associated services to support securities issuances and manage the administration of debt securities. It currently holds a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
Fineqia International Inc. (FNQ) opened trading at C$0.005 per share.
