VANCOUVER, Bc, 3 July 2023 (OTS) – Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQA) (Frankfurt: FNQ), the digital wealth and fintech investment business, announces the first tranche of its non-trading private placement (“Offering”). The results of the 2023 Annual General Meeting (the “AGM” or “Meeting”), held on June 28, 2023, have been announced.
The Company issued 58,527,500 units (the “Units”) to raise gross proceeds of $585,275 in the first tranche of the private placement and paid finder’s fees of $9,469.25, representing a cumulative issuance of Units in Value of $594,744.25.
A total of 874,406,102 common shares were presented at the AGM, representing 67.52% of the total company shares. This represents an increase of 21.5% compared to the 55.57% vote cast at the 2022 AGM. Among those who voted, between 97.99% and 99.94% cast a vote in favor of the resolution.
“We are grateful for the remarkable number of shareholders who have supported us,” said Bundeep Singh Rangar, CEO of Fineqia. “Your support is invaluable as we continue to realize our plans.”
Election of board members 2023
The number of directors of the Company for the year has been fixed at three (3). Shareholders present in person or by proxy at the meeting voted as follows:
number of shares
For Against Abstention(s)
860.838.136 13.567.966 0
Percentage of votes cast
For Against Abstention(s)
98,45 % 1,55 % 0,00 %
All three (3) candidates listed in the meeting information circular were elected to the Board of Directors of the Company. Shareholders present in person or by proxy at the meeting voted as follows:
Candidate number of shares
For Against Abstention(s)
Bundeep Singh Rangar 861.586,38 3.781.306 0
Martin Graham 852.866,08 12.501,60 0
Brij Chadda 862.755,28 2.612.400 0
Percentage of votes cast
Bundeep Singh Rangar 99,56 % 0,44 % 0,00 %
Martin Graham 98,56 % 1,44 % 0,00 %
Brij Chaddha 99,70 % 0,30 % 0,00 %
Appointment of auditors 2023
Baker Tilly WM LLP has been appointed auditor to the Company for the insurance year. The members of the Management Board were given powers of attorney to set their remuneration. Shareholders present in person or by proxy at the meeting voted as follows:
number of shares
For Against Abstention(s)
873.881.247 524.855 0
Percentage of votes cast
For Against Abstention(s)
99,94 % 0,06 % 0,00 %
Approval of the Ongoing Stock Option Plan 2023
The resolution to ratify, confirm and approve the Company’s rolling 20% ​​stock option plan was approved. Shareholders present in person or by proxy at the meeting voted as follows:
number of shares
For Against Abstention(s)
847.941.820 17.425.869 0
Percentage of votes cast
For Against Abstention(s)
97,99 % 2,01 % 0,00 %
After the formal end of the AGM, the Board of Directors was available to answer questions.
private placement
The first tranche is part of the private placement announced April 28 for issuance of up to 100,000,000 units.
Each Unit consists of one common share of Fineqia (a “Common Share”) at a price of C$0.01 per Share and one warrant (a “Warrant”) exercisable at a price of C$0.05 per Share. to acquire one common share for a period of three years after the closing of the offering.
The Company may, at its sole discretion, advance the Expiry Date provided that the Closing Price is at or above $0.10 per share within a period of 20 consecutive trading days, at any time four months and one day after the issuance of the Warrant. Warrant holders will be notified by a Company press release announcing such an advance. In such a situation, the expiry date shall be deemed to be the twentieth day after the press release is issued.
Fineqia intends to use the proceeds from the private brokerage for working capital purposes.
“We are capitalizing on growth opportunities arising from the rapid interaction of new technologies, such as artificial intelligence or blockchain, with financial services and capital markets,” said Bundeep Singh Rangar, CEO of Fineqia.
All references to dollars ($) above refer to Canadian dollars (C$).
The issuance of certain shares to directors and officers of the Company pursuant to the Offering will each constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101-“Protection of Minority Security Holders in Special Transactions” (“MI 61-101”). The Company will avail itself of the exemptions from the valuation and approval requirements for minority shareholders set out in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 with respect to the issuance of Units to 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, to any US person or to any person in the United States (as such terms are defined in the provisions of the 1933 Act) except in accordance with an exemption from the registration requirements of the 1933 Act and applicable state laws. This press release does not constitute an offer to sell, or the solicitation of an offer to purchase, any securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Fineqia International Inc.
Phoenicia (www.fineqia.com) is a digital assets company that makes investments in early and growth stage technology companies that will be part of the next generation of the internet. In addition, the company provides a platform to support and manage the issuance of UK debt securities. Publicly listed in Canada (CSE: FNQ), with offices in Vancouver and London, Fineqia’s investment portfolio includes companies at the forefront of tokenization, blockchain technology, NFTs, AI and fintech.
Forward-Looking Statements
Certain statements in this press release may contain forward-looking information (as defined under applicable Canadian securities laws) (“forward-looking statements”). Any statements that are not historical facts and relate to activities, events or developments of which Fineqia (the “Company”) believes, expects or anticipates that any of these will or may occur in the future (including but not limited to statements regarding potential acquisitions and financing) are forward-looking statements. Forward-looking statements are generally identified by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of those words, or other variations thereof, and similar terminology. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict that the Company’s actual results will differ materially from those projected in the forward-looking statements Factors that could cause actual results or events to differ materially from current expectations include, without limitation, procurement failure adequate financial resources and other risks set out in the Company’s public disclosures on file with relevant securities regulators. Any forward-looking statement speaks only as of the date on which it is made, except as required by applicable securities laws. The Company disclaims any intention or obligation to update any forward-looking statements, except as required by applicable securities laws.
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