Nice monthly progress reportAt the CSE, they do have to file a progress report every month. Nice higher standards at the CSE, which does give Fineqia more credibility which is nice since our OS is an eyesore.
https://webfiles.thecse.com/12_-_Fineqia_-_Form_7_December_2022_-_file_copy.pdf?c9HjFhbKxAIj9Ld44B2ATtAhfQIxL8_L
Nice summary of what happened last month in December, and our current share count close to 1.3 billion shares:
SUMMARY:
December 9, 2022
The Issuer closed the third tranche of its non-brokered private placement (the “Offering”). The Issuer has issued 43,185,690 units (the “Units”) to raise gross proceeds of C$431,856.90 in this tranche. The Issuer also issued 1,917,720 Units as finder’s fees on a portion of the Offering. Each Unit consists of one common share of the Company and one share purchase warrant (a “Warrant”) exercisable for three years at a price of C$0.05 per share. The Issuer may, at its option, accelerate the expiry date of the Warrants, provided that closing price of the common shares is at or above C$0.15 per share for any 20 consecutive trading day period at any time after four months and one day after the issuance of the Warrants. The issuance of certain Units to directors and officers of the Company pursuant to the Offering will each be considered a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Issuer will rely upon exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, with respect to the issuance of the Units to the directors and officers.
December 15, 2022 The Issuer closed the fourth and final tranche comprised a total of $353,500 including gross proceeds of $68,500 and conversion of external debt of C$285,000. In total in the private placement, the Issuer issued 482,460,590 units (the “Units”) to raise gross proceeds of $4,824,605.90, along with a conversion of debt of $506,975 and payment of finder’s fees worth $19,177.20. The Issuer had raised the ceiling of its private placement to $5 million from $4 million on Oct 12, 2022, to accommodate increased investor interest. The Offering's proceeds will be used to eliminate Company debt and improve the company's working capital. Subscribers to the Offering included the Wavemaker Genesis Master Fund Ltd, a fund managed by Wave Financial LLC, as announced at the time of the closing of the second tranche. Fineqia is a minority shareholder in Wave Financial, LLC.