Blockchain Press Releases
Fineqia Closes First Tranche of Private Placement; Announces 2023 AGM Votes
VANCOUVER, BC, June 30, 2023 /PRNewswire/ — Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA), the digital asset and fintech investment business, announces the first tranche of its non-brokered private placement (“Offering”). The results of the 2023 Annual General Meeting (the “AGM” or “Meeting”) held on June 28, 2023, were disclosed.
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 payment of finder’s fees worth $9,469.25, for a cumulative issuance of $594,744.25 worth of units.
At the AGM, a total of 874,406,102 common shares, which represents 67.52% of the Companies issued shares, were present, marking a 21.5% increase compared to the 55.57% votes cast in the 2022 AGM. Amongst those who voted, between 97.99% and 99.94% voted in favour the resolutions.
“We’re grateful to the remarkable number of shareholders who’ve endorsed us,” said Bundeep Singh Rangar, CEO of Fineqia. “Their support is invaluable for us to execute on our plans.”
Election of Directors 2023
The number of Directors of the Company has been fixed at three (3) for the year. Shareholders present in person or represented via proxy at the Meeting voted as follows:
|
Number of Shares |
Percentage of Votes Cast |
||||
|
For |
Against |
Withheld/Abstain |
For |
Against |
Withheld/Abstain |
|
860,838,136 |
13,567,966 |
0 |
98.45 % |
1.55 % |
0.00 % |
All three (3) nominees listed in the information circular for the Meeting were elected as Directors of the Company. Shareholders present in person or represented via proxy at the Meeting voted as follows:
|
Nominee |
Number of Shares |
Percentage of Votes Cast |
||||
|
For |
Against |
Withheld/Abstain |
For |
Against |
Withheld/Abstain |
|
|
Bundeep Singh Rangar |
861,586,38 |
3,781,306 |
0 |
99.56 % |
0.44 % |
0.00 % |
|
Martin Graham |
852,866,08 |
12,501,60 |
0 |
98.56 % |
1.44 % |
0.00 % |
|
Brij Chadda |
862,755,28 |
2,612,400 |
0 |
99.70 % |
0.30 % |
0.00 % |
Appointment of Auditors 2023
Baker Tilly WM LLP was appointed auditor of the Company for the ensuring year and to authorize the directors to fix their remuneration. Shareholders present in person or represented via proxy at the Meeting voted as follows:
|
Number of Shares |
Percentage of Votes Cast |
||||
|
For |
Against |
Withheld/Abstain |
For |
Against |
Withheld/Abstain |
|
873,881,247 |
524,855 |
0 |
99.94 % |
0.06 % |
0.00 % |
Approval of Rolling Stock Option Plan 2023
The resolution to ratify, confirm and approve the Company’s 20% Rolling Stock Option Plan was approved. Shareholders present in person or represented via proxy at the Meeting voted as follows:
|
Number of Shares |
Percentage of Votes Cast |
||||
|
For |
Against |
Withheld/Abstain |
For |
Against |
Withheld/Abstain |
|
847,941,820 |
17,425,869 |
0 |
97.99 % |
2.01 % |
0.00 % |
After the formal end to the AGM, the Board was available to answer questions.
Private Placement
The first tranche is part of the private placement announced on Apr. 28 for the issuance of up to 100,000,000 units.
Each Unit consists of one common share of Fineqia (a “Common Share”) priced at C$0.01 per share and one warrant (a “Warrant”) exercisable at C$0.05 to purchase one Common Share for a period of three years from the closing of the Offering.
The Company may, at its option, accelerate the expiry date, provided that closing price trades at or above $0.10 per share for any 20 consecutive trading day period at any time after four months and one day after the issuance of the warrant. Warrant holders will be notified by the issue of a press release by the Company announcing such acceleration. In such a situation, the expiry date shall be deemed to be the 20th day following the date of issuance of the press release.
Fineqia intends to use the proceeds from the private placement for working capital purposes.
“We’re embracing growth opportunities emanating from the rapid interaction of new technologies such as artificial intelligence and blockchain with financial services and capital markets,” said Bundeep Singh Rangar, CEO of Fineqia.
All references to dollars ($) above are to Canadian dollars (C$).
The issuance of certain of the 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 Company 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.
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 or to, or for the account or benefit of, a U.S. person or person in the United States (as such terms are defined in regulations under the 1933 Act), absent an exemption from the registration requirements of the 1933 Act and applicable state laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Fineqia International Inc.
Fineqia (www.fineqia.com) is a digital asset business that builds and targets investments in early and growth stage technology companies that will be part of the next generation of the Internet. It also provides a platform to support and manage the issuance of debt securities in the UK. Publicly listed in Canada (CSE: FNQ) with offices in Vancouver and London, Fineqia’s portfolio of investments includes businesses at the forefront of tokenization, blockchain technology, NFTs, AI, and fintech.
Media Contact
Angus Campbell
Nominis Advisory
[email protected]
FOR FURTHER INFORMATION, PLEASE CONTACT:
Katarina Kupcikova, Analyst
E. [email protected]
T. +44 7806 730 769
FORWARD-LOOKING STATEMENTS
Some statements in this release may contain forward-looking information (as defined under applicable Canadian securities laws) (“forward-looking statements”). All statements, other than of historical fact, that address activities, events or developments that Fineqia (the “Company”) believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the failure to obtain sufficient financing, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement except to the extent required by applicable securities laws.
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As headlines spotlight spot Bitcoin (BTC) exchange-traded fund (ETF) flows and institutions revealing their exposure to BTC ETFs, financial service infrastructure providers are quietly integrating blockchain technology into their systems.
According to a recent report from the Depository Trust & Clearing Corporation (DTCC), the firm conducted a pilot program named Smart NAV in collaboration with Chainlink (LINK). This initiative aimed to extend the capabilities of DTCC’s Mutual Fund Profile Service I (MFPS I), the industry standard for transmitting ‘Price and Rate’ data, also known as ‘NAV data.’
DTCC’s Mutual Fund Services business currently operates MFPS I, offering fund companies an automated solution to deliver prices and daily distribution rates to numerous clients for tens of thousands of mutual fund securities. Traditionally, DTCC collects price and rate data from funds/service providers and distributors, then aggregates and disseminates it at regular intervals through its message queue (MQ) and file-based methods.
The Smart NAV Pilot served as a digital extension of the existing MFPS I service, aiming to broaden and complement its current capabilities. DTCC recognized the growing interest in mutual fund tokenization and saw an opportunity for on-chain price and rate data to facilitate new initiatives. Taking a ‘chain-agnostic’ approach, meaning the ability to disseminate NAV data across virtually any blockchain, was crucial for enabling other use cases to build upon Smart NAV’s foundations.
Ten market participants, including major names like American Century Investments, BNY Mellon, and JP Morgan, collaborated with DTCC and Chainlink on the pilot. They evaluated the feasibility and industry value of implementing a distributed ledger technology (DLT)-based price and rate dissemination solution to unlock new benefits and support experimentation in the asset management space.
The pilot results demonstrated that delivering structured data on-chain and establishing standard roles and processes enabled foundational data to be integrated into various on-chain use cases, such as tokenized funds and bulk consumer smart contracts. This capability can fuel future industry exploration and empower numerous downstream use cases, including brokerage portfolio applications.
The simplest application of Smart NAV is to provide trusted, verifiable data on virtually any blockchain network to support its use in business workflows. During the pilot, DTCC acted as both the provider and governor of the on-chain data solution, while Chainlink’s CCIP served as the interoperability layer. The core capability explored is adaptable across a wide range of use cases, potentially enhancing operational efficiency and streamlining processes.
Based on the positive findings, DTCC sees an opportunity to expand the scope of the pilot to explore broader use cases beyond price and rate data dissemination and across more blockchains.
Source: kitco.com
The post DTCC partners with Chainlink and JPMorgan to pilot blockchain integration for fund data appeared first on HIPTHER Alerts.
Blockchain
Is Donald Trump’s Recent Crypto-Friendly Stance Genuine Or Opportunistic? Experts Weigh In
Presidential candidate Donald Trump recently made a surprising endorsement of crypto, suggesting that he would ease hostility towards cryptocurrencies in the US if re-elected.
Trump stated, “If we’re going to embrace it, we have to let them be,” and urged crypto supporters to vote for him. This marks a significant shift from his previous criticisms of Bitcoin and other cryptocurrencies in 2019, where he labeled them as “not money” due to their volatility and lack of intrinsic value, expressing concerns about their potential use in illegal activities like drug trafficking.
Crypto’s Impact on Voter Preferences
With approximately 20% of American adults reportedly holding crypto, candidates are taking notice. Markus Levin of XYO Network sees embracing crypto and implementing solid regulation as a strategic move in elections and sound policy overall. He believes Trump’s apparent positive stance towards the industry will sway some voters in his favor.
Jonathan Thomas of Blueberry suggests that Trump’s crypto-friendly rhetoric may attract voters who prioritize crypto as a single-issue matter.
Skepticism Surrounding Trump’s Crypto Support
However, not everyone is convinced by Trump’s newfound endorsement of crypto. NFT enthusiast Thorne Melcher views it as “flimsy” and warns against the potential for conservative politics to restrict crypto due to its use in areas such as trans hormone replacement therapy and abortions.
While some may see Trump’s support for crypto as a reason to vote for him, others like Stephanie Vaughan of Veda caution against assuming substantial benefits from this endorsement alone. Vaughan highlights the Biden Administration’s hardline stance on crypto regulation by enforcement, which she believes is unworkable and could push voters towards Trump.
Trump’s Strategy to Attract Crypto Voters
Trump’s pivot from crypto skeptic to NFT enthusiast reflects a strategic move to appeal to voters interested in crypto. Vaughan suggests that many crypto-focused voters may have supported Biden in the last election, but Trump is actively courting them by recognizing the industry’s significance.
By acknowledging crypto’s growing influence on voters, Trump aims to draw support away from Biden, positioning himself as the candidate more aligned with the interests of the crypto community.
Source: cryptonews.com
The post Is Donald Trump’s Recent Crypto-Friendly Stance Genuine Or Opportunistic? Experts Weigh In appeared first on HIPTHER Alerts.
droppGroup, a trailblazer in amalgamating blockchain and artificial intelligence, has unveiled droppLink, an innovative service platform poised to potentially revolutionize AI management and development across various blockchains. The architecture of droppLink empowers users with control over data contributions, abstracts computational requirements, and streamlines micropayments.
Stakeholders, dubbed Computational Resource Patrons (CRPs), contribute to the infrastructure costs and share profits from the facilitated AI operations.
As a web3 development firm, droppGroup specializes in deploying patented innovations in AI, machine learning (ML), object recognition, streaming, crypto, augmented reality (AR), virtual reality (VR), and mixed reality (MR). droppGroup is now advancing multi-modal AI systems with droppLink.
Gurps Rai, co-founder and CEO of droppGroup, explains that droppLink tokenizes each stage in an AI model’s lifecycle across multiple blockchains, such as Solana, Polygon, Ethereum, Base, and Hyperledger Fabric 2.5, ensuring unparalleled data integrity and expediting AI development.
Rai added, “This process upholds data ownership rights while establishing a transparent, immutable usage record via our Proof of Gen and Data Genesis protocols.”
Christopher J. Kelly, co-founder and president of droppGroup, underscores the company’s commitment to pushing the boundaries of multi-modal AI systems at the convergence of physical and digital realms, introducing cutting-edge solutions to the market.
Scheduled to speak on the monitoring and evaluation panel at the AWS Summit on May 22, Kelly will address topics like data integrity in AI and its alignment with the company’s mission.
With the AI market projected to reach $297 billion by 2027, ethical considerations such as data provenance, intellectual property protection, and fair compensation are paramount.
Accessible through droppPhygital, droppLink leverages multi-chain integration and robust tokenization to bolster data integrity. By melding blockchain technology with artificial intelligence, droppLink establishes an ethical management layer, aiming to reshape the AI landscape by fostering trust, transparency, and innovation.
Source: cryptotimes.io
The post droppGroup Unveils Platform with AI-Blockchain Integration appeared first on HIPTHER Alerts.
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