Business
WonderFi to Acquire Additional $10M CAD of Crypto and DeFi Assets
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - WonderFi Technologies Inc. ...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi to Acquire Additional $10M CAD of Crypto and DeFi AssetsVancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\") today announced it has received approval from its Board of Directors to purchase up to $10 million CAD in digital assets weighted across key assets that drive value in the decentralized finance (\"DeFi\") sector, adding to its existing balance of long-term holdings.Last week, WonderFi closed a bought deal financing of approximately $26 million CAD led by Canaccord Genuity Corp. The majority of proceeds from the financing have been allocated to execution of WonderFi's product development roadmap and distribution of its products to a global audience, with a portion being allocated to growth of the Company's digital asset portfolio. WonderFi's crypto and DeFi asset allocation is driven by research and data insights from the sector, and the Company targets assets that provide long-term value. All assets are screened for technology risk, market risk and governance risk prior to acquisition and are monitored on an ongoing basis.WonderFi's purchases will be executed using a dollar cost averaging strategy in order to mitigate short-term price volatility in the assets. The Company intends to generate yield on certain digital assets held in its treasury through staking and other DeFi mechanisms, in circumstances where the Company deems it to be sufficiently secure to do so. Additional InformationFor additional information, please contact:WonderFi Technologies Inc.Ben Samaroo, [email protected](778) 843-9637Investor Relations Contact: [email protected] Contact: [email protected] WONDERFIWonderFi is a leading technology company with the mission of creating better access to DeFi through the core principles of simplicity and education. WonderFi has a multi-pronged business strategy which includes a high-growth consumer finance app which will serve as a trusted gateway to the new financial system, and a digital asset portfolio which consists of leading crypto and DeFi assets. WonderFi's executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital, Hut 8 and BIGG Digital. WonderFi's core team of e...