Fineqia International Inc (CSE:FNQ, OTC:FNQQF) announced that it has completed an oversubscribed private placement, raising $2.1 million, 40% above its initial $1.5 million target.
Fineqia issued just over 210.2 million units priced at $0.01, consisting of one common share and one share purchase warrant exercisable at $0.05 for three years.
Fineqia may accelerate the expiration of the warrants if the common share price reaches or exceeds $0.10 for 20 consecutive trading days, in which case the expiry will be set to 20 days following an announcement from the company.
The company plans to use the funds to bolster its working capital.
"This is a proof point of investor enthusiasm," Fineqia CEO Bundeep Singh Rangar commented. "With valuable investors as the wind in our sails, we're charting a bold course towards innovative products and advancements that will positively shape the digital asset industry."
Fineqia is a digital asset and investment company focused on developing and investing in innovative technology businesses within the evolving landscape of blockchain, tokenization, and financial technology.