VANCOUVER, Nov. 1, 2016 /PRNewswire/ - Fineqia International Inc. (the "Company " or "Fineqia") (CSE: FNQ) (OTCPink: FNQQF) (Frankfurt: FNQA) is pleased to announce that it has closed a non-brokered private placement (the "Private Placement") of 517,119,950 units ("Units") issued at a price of CAD$0.01 per Unit, raising gross proceeds of CAD$5,171,199.50 in an oversubscribed round. The final close follows raising of the Private Placement target three times from CAD$2 million to CAD$5 million due to continued investor interest, since the Company's completion of the first tranche of the Private Placement and issuance of 157,900,000 Units, raising gross proceeds of CAD$1,579,000 on August 11, 2015. Each unit consists of one common share and one transferable common share purchase warrant ("Warrants") exercisable at CAD$0.05 per share for a period of five years subject to an accelerated vesting provision. Fineqia intends to provide a U.K. regulated platform and associated services to place and administer debt and equity securities issuances. The UK industry for mini-bond debt securities is expected to be worth £8 billion ( CAD$13 billion) by 2017 from about £90 million ( CAD$148 million) in 2012, according to the U.K's Capita Registrars. Insiders of the Company subscribed for 67,770,000 Units, with Bundeep Singh Rangar, CEO and a director of the Company, subscribing for 34,320,000 Units through his controlled companies; Stephen John McCann, CFO and a director of the Company, subscribing for 30,950,000 Units in his own name and through a company he controls, and Brij Chadda, a director of the Company, subscribing for 2,500,000 in his own name. As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The Company relied upon the "Issuer Not Listed on Specified Markets" and "Fair Market Value Not More Than CAD$2,500,000" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101. As a result of the Private Placement: (i) Mr. Rangar's beneficial ownership of common shares of the Company ("Beneficial Ownership") decreased from 7.05% to 6.19% of the issued and outstanding common shares of the Company; (ii) Mr. McCann's Beneficial Ownership increased from 0.06% to 4.70% and Mr. Chadda's ownership increased from 0.11% to 0.41%. The Private Placement was unanimously approved by the board of directors of the Company, with Messrs. Rangar, McCann and Chadda each having declared his interest and abstained from approving any issuance of Units to himself or companies controlled by him.