Business
WonderFi Announces Proposed Transaction for Bitbuy to Acquire Coinberry Client Accounts
Toronto, Ontario--(Newsfile Corp. - July 21, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQ...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Announces Proposed Transaction for Bitbuy to Acquire Coinberry Client AccountsToronto, Ontario--(Newsfile Corp. - July 21, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\"), today announced that its subsidiary Bitbuy Technologies Inc. (\"Bitbuy\") has received a non-objection letter from the Ontario Securities Commission to purchase all of the client accounts of Coinberry Limited (\"Coinberry\") (the \"Transaction\").This news release constitutes a \"designated news release\" for the purposes of WonderFi's prospectus supplement dated December 23, 2022 to its short form base shelf prospectus dated September 7, 2022.The Transaction will be carried out by way of an asset purchase agreement, where Bitbuy will purchase and assume from Coinberry all of Coinberry's right, title and interest, as well as any and all obligations associated with the servicing of Coinberry's client accounts. The Company anticipates that the Transaction will close prior to the end of August of this year.This strategic move is part of WonderFi's plan to streamline operations and enhance the trading experience for its users following the initial acquisition of Coinberry. By migrating Coinberry's clients to Bitbuy, the Company aims to realize cost synergies and operational efficiencies while offering an increased range of services and a more accessible trading experience. Coinberry users will gain access to a variety of services exclusive to Bitbuy including crypto staking.\"We are excited to migrate Coinberry's users to the Bitbuy platform,\" said WonderFi President and Chief Executive Officer, Dean Skurka. \"This consolidation will allow us to offer an enhanced trading experience to a larger user base. We are confident that the integration will bring additional value to our customers.\"Bitbuy is committed to making this transition as smooth as possible for Coinberry users. There is no action required on the part of Coinberry users, as their accounts and funds will be securely migrated to the Bitbuy platform. Users can expect clear communication and support throughout the process, ensuring a seamless transition. All Coinberry account holders will receive further information related to their accounts and the Transaction.ABOUT WONDERFI WonderFi aims to revolutionize access to digital assets by ...