WonderFi Announces Corporate Update Following Completion of Its Acquisition of Coinsquare and CoinSmart FinancialWednesday, August 30, 2023
Strong balance sheet, with cash and cash equivalents of $35M
Planned operational and technology synergies progressing on schedule
Combined client assets under custody now exceed $730M
Clear path toward cash-flow-positive operations
Vancouver, BC, August 30, 2023--(T-Net)--WonderFi Technologies Inc. (TSX: WNDR) has announced a corporate update following the completion of its recent landmark acquisition of Coinsquare Ltd. and CoinSmart Financial Inc. in July 2023.
Corporate Division Appointments:
As part of WonderFi's identified cost synergies and renewed focus, the following appointments have been made at our core operating subsidiaries:
Dean Skurka, President and Interim CEO, WonderFi
"Following our acquisition of Coinsquare and CoinSmart, we are pleased with the initial progress toward realizing synergies and identifying a clear strategic roadmap to achieve profitability in the near term," commented Dean Skurka, President and Chief Executive Officer of WonderFi. "As one of the largest regulated digital asset ecosystems in Canada, we are continuing to find ways to improve our product offerings, including our trading platforms and crypto-payment solutions," added Skurka.
WonderFi aims to revolutionize access to digital assets by operating its three registered Canadian-owned and operated crypto asset trading platforms: Bitbuy, Coinsquare, and CoinSmart. With a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding $730 million, WonderFi boasts one of the largest communities of crypto investors within a single regulated ecosystem in Canada.
WonderFi's global crypto payment division, SmartPay, enables seamless digital asset payments across a range of industries. With a track record of consistent growth and unwavering commitment to excellence, SmartPay has successfully processed over one million transactions to date.
WonderFi remains devoted to offering its users access to new regulated verticals, designed to empower the next generation of investors. For further information about WonderFi, please visit www.wonder.fi.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. [ MORE ]
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.
Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. In this news release, forward looking-statements relate to, among other things, statements relating to the timing for the completion of the Offering and Concurrent Block Trade, the expected use of proceeds from the Offering, and the ability of the Company list the Warrants. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "estimated", or variations of such words.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions.
Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to work effectively with strategic investors; and changes in general economic, business and political conditions, including changes in the financial markets, changes in applicable laws, and compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Neither NEO Exchange nor its Regulation Services Provider (as that term is defined in policies of the NEO Exchange) accepts responsibility for the adequacy or accuracy of this news release.
[ LESS ]
Vancouver (Other Tech Sectors)
Other Recent Company News
Copyright © T-NET. All Rights Reserved. | https://www.bctechnology.com