LONDON, Sept. 30, 2021 /CNW/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) announces the sale of its minority shareholding in IXL PremFina Ltd ("PremFina"). Fineqia invested in PremFina in 2017.
The proceeds from this divestment will be used to make new strategic investments that align with Fineqia's value proposition, contributing to the company's growing investment portfolio in fintech, blockchain and cryptocurrency technology companies worldwide. The divestment has been completed in the third quarter of 2021.
PremFina, is UK's first venture-backed, insurance premium financing company boosting accessibility and flexibility for the sale of insurance premiums, alleviating financial strains on the end-customer. It promotes financial inclusion for the insurance industry.
The divestment sum represents less than 3% of Fineqia's market capitalisation. Terms of the transaction remain confidential.
For more information about Fineqia please visit https://investors.fineqia.com/news
About Fineqia International Inc.
Fineqia International is listed in Canada (CSE: FNQ) and quoted on stock exchanges in the United States (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International sets out the corporate governance, corporate culture, processes and relationships of the company under which the Company and its subsidiaries are managed and managed. Fineqia International monitors and ensures the success, planning and growth of the Company and all of its subsidiaries. More information can be found at https://investors.fineqia.com/news.
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.
SOURCE Fineqia International Inc.