WonderFi Introduces New Innovation and Development Arm, WonderFi Labs

On behalf of WonderFi Technologies Inc.

WonderFi Labs will develop, incubate and invest in centralized and EVM-compatible decentralized products and protocols that have a global reach
Initial products to include WonderFi L2, a Layer 2 blockchain built on Ethereum, and WonderFi Wallet, an EVM-compatible non-custodial wallet

‍Toronto, Ontario – (July 18, 2024) – WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) (the “Company” or “WonderFi“) today announces the launch of WonderFi Labs, an innovation and development arm focused on decentralized technologies and building future applications to expand the Company’s offerings beyond its centralized trading platforms. WonderFi Labs will initially focus on decentralized products and protocols, including the WonderFi Layer 2 blockchain (“WonderFi L2”) and the WonderFi Non-Custodial Wallet (“WonderFi Wallet”).

‍Led by WonderFi Vice President of Engineering, Kartik Bajaj, the dedicated engineering, product and design team of WonderFi Labs will develop, incubate and invest in on-chain applications that drive client engagement through the Company’s expanding range of channels. An enthusiastic innovator with a strong background in developing smart contracts and creating decentralized financial applications, Mr. Bajaj played a key role in founding WonderFi.“‍The introduction of WonderFi Labs will enable the development of a number of innovative on-chain global products that will complement our existing offerings,” said Dean Skurka, CEO & President of WonderFi. “It’s clear the future of crypto involves on-chain solutions and this will allow WonderFi to remain at the forefront of the industry.”

‍The first products under development by WonderFi Labs will include:

WonderFi L2, a layer 2 blockchain built on Ethereum that will enable low-cost and fast transactions for a global audience, while leveraging the security of Ethereum
WonderFi Wallet, an EVM-compatible non-custodial wallet that will connect to the WonderFi L2 and other EVM-compatible Layer 2 blockchains

‍”Innovation and creativity are the lifeblood of the digital asset industry,” said Cong Ly, CTO of WonderFi. “The creation of WonderFi Labs allows us to continue our culture of experimentation and further advances our technological capabilities.”

‍”These products are also in line with our international expansion plan,” added Skurka. “With a strong balance sheet in place, we’re prioritizing our investment in innovation and growth, and focusing on centralized and decentralized applications that can reach a global audience.”

‍‍ABOUT WONDERFI

‍‍WonderFi is the largest regulated crypto trading platform in Canada and a global leader in centralized and decentralized financial services and products.

With over $1.5B in assets under custody, WonderFi is well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications.

Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining applicable licenses. It is also the owner of several market-leading brands, including Bitbuy, Coinsquare, SmartPay and Tetra Trust.

As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.

For more information, visit www.wonder.fi.

‍‍This 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.

‍For additional information, please contact:

Media Relations
Hayley Suchanek
Kaiser & Partners
[email protected]
289.681.2477
‍

Investor Relations
Charlie Aikenhead
WonderFi
[email protected]

‍Forward-Looking Information and Statements

‍This press release contains certain “forward-looking information” and “forward-looking statements” 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 beliefs of WonderFi Technologies Inc. (“WonderFi” or the “Company”) regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. 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”, “planned”, “estimated”, “soon”, “potential”, “anticipate” 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: taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada and other jurisdictions in which the Company carries on business or in which the Company may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation, decisions to modify, pause or discontinue certain treasury management strategies. These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. 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. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company’s future decisions and actions will depend on management’s assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management’s discussion and analysis and financial statements for the period ended March 31, 2024, available on its SEDER+ profile at www.sedarplus.ca.

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. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.

View here for a free report on WonderFi Technologies Inc. [TSX:WNDR][OTCQB:WONDF]

Disclaimer

QUICK LINKS TO PREFERRED BROKERAGES

Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, WonderFi Technologies Inс. Market Jar Media Inc. has or expects to receive from WonderFi Technologies Inс.’s Digital Marketing Agency of Record (Native Ads Inc.) one hundred and fifty seven thousand, one hundred and sixty eight US dollars for a duration of up to twelve (12) months or until budget exhaustion as dictated by WonderFi Technologies Inс.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding WonderFi Technologies Inс.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to WonderFi Technologies Inс.’s industry; (b) market opportunity; (c) WonderFi Technologies Inс.’s business plans and strategies; (d) services that WonderFi Technologies Inс. intends to offer; (e) WonderFi Technologies Inс.’s milestone projections and targets; (f) WonderFi Technologies Inс.’s expectations regarding receipt of approval for regulatory applications; (g) WonderFi Technologies Inс.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) WonderFi Technologies Inс.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute WonderFi Technologies Inс.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) WonderFi Technologies Inс.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) WonderFi Technologies Inс.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of WonderFi Technologies Inс. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) WonderFi Technologies Inс.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact WonderFi Technologies Inс.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing WonderFi Technologies Inс.’s business operations (e) WonderFi Technologies Inс. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, WonderFi Technologies Inс. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does WonderFi Technologies Inс. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither WonderFi Technologies Inс. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of WonderFi Technologies Inс. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of WonderFi Technologies Inс. or such entities and are not necessarily indicative of future performance of WonderFi Technologies Inс. or such entities.

8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.

PressReach

SEARCH FOR AN ARTICLE

PressReach

PressReach

WonderFi Introduces New Innovation and Development Arm, WonderFi Labs

QUICK LINKS TO PREFERRED BROKERAGES

More News From This Company

WonderFi Technologies Inc

Company News

Don't Hestitate! Get The Corporate Presentation Now

PLUS

Don't Hestitate! Get The Corporate Presentation Now

PLUS

PressReach

SUBSCRIBE FOR TRADING INSIGHTS AND ALERTS. STAY AHEAD.

Get Money Saving Tips

QUICK LINKS TO PREFERRED BROKERAGES

More News From This Company

WonderFi Technologies Inc

Company News

Don't Hestitate! Get The Corporate Presentation Now

PLUS

Don't Hestitate! Get The Corporate Presentation Now

PLUS

Get Money
Saving Tips