LONDON, Jan. 2, 2018 /CNW/ - Bundeep Singh Rangar (the "Acquiror"), of IXL House, 18 Heddon Street, London, England W1B 4DA, announces that on December 29, 2017, the Acquiror, through his wholly-owned company, Rangar Capital Limited ("Rangar Capital"), acquired (the "Acquisition") ownership of 53,460,520 common shares (the "Acquired Shares") of Fineqia International Inc. ("Fineqia") pursuant to private acquisitions from 4 individuals (the "Vendors"). As a result of the Acquisition, Mr. Rangar's security holding percentage increased from 22.84% to 28.86% of the common shares of Fineqia (the "Common Shares").
Immediately before the completion of the Acquisition, the Acquiror beneficially owned 75,016,289 Common Shares and 114,750,201 common share purchase warrants of Fineqia (the "Warrants") collectively representing 22.84% of the issued and outstanding Common Shares, assuming exercise of the Warrants. The Warrants are registered in the names of Rangar Capital, Oranjeboom Ventures Limited and IXL Bancorp Limited, all of which are entities controlled by Mr. Rangar. Immediately after the completion of the Acquisition, the Acquiror beneficially owns an aggregate of 128,476,809 Common Shares and 114,750,201 Warrants, collectively representing 28.86% of the issued and outstanding Common Shares, assuming the exercise of the Warrants.
The Acquiror is the President and Chief Executive Officer of Fineqia, and he entered into the transaction for investment purposes. The Acquiror may increase or reduce its investment in the Corporation according to market conditions or other relevant factors.
The head office of Fineqia is located at IXL House, 18 Heddon Street London, England W1B 4DA.
The Acquiror will file with the Canadian securities regulators within the prescribed period an early warning report (the "Report") providing details on the Acquisition. The Report will be available on Fineqia's SEDAR profile at www.sedar.com. In addition, a copy of the Report may be obtained by contacting Bundeep Singh Rangar at +44 20 7754 9144.
SOURCE Bundeep Singh Rangar