Wellfield Tech - WFLDF STOCK NEWS

Wellfield Technologies (TSXV: WFLD) (OTC Pink: WFLDF) announced the departure of board member Kristina Bates, effective February 14, 2025. The company has initiated a search for a replacement director and will provide additional information once available.

Wellfield Technologies (TSXV: WFLD) (OTCQB: WFLDF) announced the departure of Chief Financial Officer Brian Lock effective January 24, 2025. Lock is leaving to pursue other career opportunities after serving since the company's inception. The board has initiated a search for a successor CFO. In the interim, Wellfield will rely on its existing finance team and advisors to maintain financial management continuity during the transition period. The company will provide updates on the CFO appointment process as they become available.

Wellfield Technologies (TSXV: WFLD) (OTC Pink: WFLDF) has announced the results of its annual general and special meeting. Shareholders approved three key resolutions: the re-election of four directors (Levy Cohen, Chanan Steinhart, Neal Sample, and Kristina Bates), the appointment of Kingston Ross Pasnak LLP as auditors, and the adoption of an amended equity incentive plan.

The amended plan increases the maximum number of common shares reserved for restricted share units from 17,310,020 to 19,069,112 shares. Full details of the resolutions can be found in the management information circular dated December 24, 2024, available on SEDAR+.

Wellfield Technologies Inc. (TSXV: WFLD) has announced the resumption of trading on the TSX Venture Exchange, effective October 1, 2024. The company is proceeding with its previously announced plan to spin off its wholly owned subsidiary, Tradewind Markets Inc. This strategic move aims to increase shareholder value by allowing Tradewind to operate independently, with its own management and governance structure.

The spin-off is part of Wellfield's strategy to revolutionize the gold market through Tradewind. Upon successful completion, Wellfield expects to hold $20M worth of Tradewind stock, which could be used to strengthen its balance sheet, fund growth, or benefit shareholders directly. This transaction will also enable Wellfield to refocus on crypto and decentralized finance opportunities, particularly within its Coinmama brand and proprietary blockchain technology.

Wellfield Technologies Inc. (TSXV: WFLD) (OTC Pink: WFLDF) announces the reinstatement of trading for its common shares on the TSX Venture Exchange. This follows the revocation of a ceased trade order issued by the British Columbia Securities Commission on September 5, 2024, due to delayed financial statement filing. The company addressed its working capital deficiency through an equity financing facility and a share purchase agreement with Leonovus, resulting in a $20 million spin-out of the Tradewind business.

Wellfield has also settled $676,970 of debt through the issuance of 11,043,395 common shares. The company issued RSUs to settle legacy SAFT agreements and compensate executives. Additionally, Wellfield secured cryptocurrency-based loans, including a short-term credit line of 20-30 BTC and two minor related-party loans totaling 2.7 BTC and 11 ETH.

Wellfield Technologies Inc. (TSXV: WFLD) (OTCQB: WFLDF) faced a failure-to-file cease trade order (FFCTO) from the British Columbia Securities Commission on September 6, 2024. This order prohibited trading of Wellfield's securities in Canada due to delayed filing of interim financial statements and management's discussion for Q2 2024. The delay was attributed to unforeseen resourcing challenges. Wellfield has since filed the required documents and the FFCTO was revoked on September 9, 2024. The company is now working with the TSX Venture Exchange to reinstate trading of its common shares.

Wellfield Technologies Inc. (TSXV: WFLD) (OTC Pink: WFLDF) and Leonovus Inc. (TSXV: LTV) have entered into a definitive agreement for a Reverse Take-Over (RTO) involving Wellfield's subsidiary, Tradewind Markets Inc. The deal includes:

1. Leonovus acquiring all Tradewind shares for 444,444,444 pre-consolidated Leonovus shares
2. Leonovus changing its name to 'Tradewind Markets Inc.'
3. A private placement financing of $4-6 million
4. Stock consolidation on an 11.11:1 basis

Tradewind specializes in digital gold ownership and trading, with over CDN$170 million in digitized physical metal on its platform. The RTO aims to accelerate Tradewind's growth in the digital gold market.

Wellfield Technologies Inc. (TSXV: WFLD) has announced amendments to and consolidation of its debentures. The company has agreed with a private lender to consolidate its debt, combining a US$205,079 convertible debt with a US$1,331,733 non-convertible debt. The amended and restated debenture (A&R Debenture) now has a principal amount of US$1,725,058, which includes legal fees and a deferment fee of US$156,823.

The A&R Debenture is payable in three installments between February 2025 and August 2025, with interest rates ranging from 16.4% to 21% per annum. Wellfield has also entered into a general security agreement with the lender, providing security over all of the company's present and after-acquired personal property.

Wellfield Technologies Inc. (TSXV: WFLD) has updated its shares for debt transaction, reducing the total debt to be settled to $676,970. This will be accomplished through the issuance of 11,043,395 common shares (Settlement Shares) at a deemed price of $0.06 per share for convertible debentures and $0.0714 per share for consulting payables. The Settlement Shares will be subject to a four-month and one-day statutory hold period. This debt settlement includes outstanding principal and accrued interest on certain convertible debentures, as well as payables for consulting services. The transaction remains subject to final approval from the TSX Venture Exchange.