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WonderFi Announces 2022 Financial Results
This news release constitutes "a designated news release" for the purposes of the Company's prosp...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Announces 2022 Financial ResultsThis news release constitutes \"a designated news release\" for the purposes of the Company's prospectus supplement dated December 23, 2022 to its short form base shelf prospectus dated September 7, 2022.Vancouver, British Columbia--(Newsfile Corp. - March 31, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\") today announced its audited financial results for the three and fifteen months ended December 31, 2022. \"2022 was a pivotal year for WonderFi. We continued to execute on our mission of creating a true modern wealth generation company through our acquisition of two of Canada's leading regulated crypto asset trading platforms in Bitbuy and Coinberry, as well as launching Bitbuy Staking. We look forward to continuing to execute on our mission in 2023 and strengthening our positioning in the digital asset market,\" commented Dean Skurka, Interim-Chief Executive Officer of WonderFi Technologies Inc.Business Highlights for 2022:Acquired and integrated registered crypto asset trading platforms Bitbuy Technologies Inc. (\"Bitbuy\") and Coinberry Limited (\"Coinberry\"), and acquired and integrated Blockchain Foundry Inc. (\"BCF\") (together, the \"Acquisitions\"). Bitbuy and Coinberry together achieved approximately $2.3 billion in total trading volume for the fifteen-month period ended December 31, 2022.Registered users on the Bitbuy and Coinberry platforms surpassed 400,000 and 200,000 users, respectively, as of December 31, 2022.Launched Bitbuy Staking in November 2022, allowing Bitbuy users to leverage their crypto balances to earn crypto rewards through on-chain staking.Established an at-the-market equity distribution program to issue and sell up to $10,000,000 of common shares of the Company to the public from time to time at the Company's discretion of which $0 has been utilized.Financial Highlights for 2022:Commenced revenue generation in 2022 through the Acquisitions. Revenues were $2.6 million and $9.1 million for the three and fifteen months ended December 31, 2022, which takes into effect the closing of the Bitbuy Acquisition on March 25, 2022, the closing of the Coinberry Acquisition on July 4, 2022, and the closing of the BCF Acquisition on November 7, 2022.Raised $71.4 million gross proceeds through two bought deal f...