Fineqia International Inc (CSE:FNQ, OTC:FNQQF) has announced the closing of the third and final tranche of a non-brokered private placement.
The oversized offering raised more than C$1.4 million after the company originally targeted $1 million.
Fineqia issued over 55 million units in the third tranche to raise gross proceeds of $550,158.36 plus the conversion of external debt worth $5,000. This follows the second tranche of $309,696 on August 15 and the first tranche of $594,744.25 on June 30.
Each unit contains one common share priced at $0.01 and one share purchase warrant exercisable at a price of $0.05 for a period of three years.
"We're excited to announce the successful closure of our third and final private placement phase," CEO Bundeep Singh Rangar said in a statement. "Our steadfast investors continue to drive our mission to revolutionize finance."
Proceeds from the offering will be used to enhance working capital, the company said.
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