Wellfield Announces Spin-Off Initiatives and Trade Resumption
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) ha annunciato la ripresa delle contrattazioni sulla TSX Venture Exchange, a partire dal 1° ottobre 2024. L'azienda sta proseguendo con il piano precedentemente annunciato di scorporare la sua controllata, Tradewind Markets Inc. Questa mossa strategica mira ad aumentare il valore per gli azionisti, permettendo a Tradewind di operare in autonomia, con una propria gestione e struttura di governance.
Lo scorporo fa parte della strategia di Wellfield per rivoluzionare il mercato dell'oro attraverso Tradewind. Al termine della transazione, Wellfield si aspetta di detenere azioni Tradewind del valore di $20M, che potrebbero essere utilizzate per rafforzare il proprio bilancio, finanziare la crescita o beneficiare direttamente gli azionisti. Questa transazione consentirà inoltre a Wellfield di riqualificarsi sulle opportunità di criptovalute e finanza decentralizzata, in particolare attraverso il suo marchio Coinmama e la tecnologia blockchain proprietaria.
Wellfield Technologies Inc. (TSXV: WFLD) ha anunciado la reanudación de las operaciones en la TSX Venture Exchange, a partir del 1 de octubre de 2024. La compañía está avanzando con su plan previamente anunciado de escindir su filial de propiedad total, Tradewind Markets Inc. Este movimiento estratégico tiene como objetivo incrementar el valor para los accionistas al permitir que Tradewind opere de manera independiente, con su propia gestión y estructura de gobernanza.
La escisión es parte de la estrategia de Wellfield para revolucionar el mercado del oro a través de Tradewind. Tras la finalización exitosa, Wellfield espera poseer acciones de Tradewind por un valor de $20M, que podrían utilizarse para fortalecer su balance, financiar el crecimiento o beneficiar directamente a los accionistas. Esta transacción también permitirá a Wellfield reenfocar sus oportunidades en criptomonedas y finanzas descentralizadas, particularmente dentro de su marca Coinmama y su tecnología blockchain propia.
웰필드 테크놀로지스 주식회사(TSXV: WFLD)는 2024년 10월 1일부터 TSX 벤처 거래소에서 거래가 재개됨을 발표했습니다. 이 회사는 이전에 발표한 계획에 따라 완전 소유 자회사인 Tradewind Markets Inc.를 분사하고 있습니다. 이 전략적 움직임은 주주 가치를 증가시키는 것을 목표로 하며, Tradewind가 독립적으로 운영될 수 있도록 허용합니다. 고유한 경영 및 거버넌스 구조를 갖추게 됩니다.
이번 분사는 웰필드가 Tradewind를 통해 금 시장을 혁신하려는 전략의 일환입니다. 성공적인 완료 후에 웰필드는 $20M 가치의 Tradewind 주식을 보유할 것으로 기대하고 있습니다, 이는 재무 상태를 강화하거나 성장 자금을 지원하거나 주주에게 직접 이익을 줄 수 있습니다. 이 거래를 통해 웰필드는 암호화폐 및 분산 금융 기회를 다시 집중 할 수 있게 됩니다. 특히 Coinmama 브랜드와 독자적인 블록체인 기술을 활용하여 말이죠.
Wellfield Technologies Inc. (TSXV: WFLD) a annoncé la reprise des échanges sur la TSX Venture Exchange, effective à partir du 1er octobre 2024. L'entreprise poursuit son plan précédemment annoncé de démembrer sa filiale entièrement détenue, Tradewind Markets Inc. Cette démarche stratégique vise à augmenter la valeur pour les actionnaires en permettant à Tradewind d'opérer indépendamment, avec sa propre direction et sa structure de gouvernance.
La séparation fait partie de la stratégie de Wellfield pour révolutionner le marché de l'or grâce à Tradewind. Une fois l'opération réussie, Wellfield s'attend à détenir des actions Tradewind d'une valeur de 20 millions de dollars, qui pourraient être utilisées pour renforcer son bilan, financer sa croissance ou bénéficier directement aux actionnaires. Cette transaction permettra également à Wellfield de se recentrer sur les opportunités liées aux cryptomonnaies et à la finance décentralisée, notamment à travers sa marque Coinmama et sa technologie blockchain propriétaire.
Wellfield Technologies Inc. (TSXV: WFLD) hat die Wiederaufnahme des Handels an der TSX Venture Exchange bekannt gegeben, wirksam ab dem 1. Oktober 2024. Das Unternehmen wird mit seinem zuvor angekündigten Plan fortfahren, seine hundertprozentige Tochtergesellschaft, Tradewind Markets Inc. auszugliedern. Dieser strategische Schritt zielt darauf ab, den Shareholder-Wert zu steigern, indem Tradewind unabhängig mit einer eigenen Geschäftsführung und Governance-Struktur agiert.
Die Ausgliederung ist Teil von Wellfields Strategie, den Goldmarkt über Tradewind zu revolutionieren. Nach erfolgreichem Abschluss erwartet Wellfield, Aktien von Tradewind im Wert von 20 Millionen Dollar zu halten, die zur Stärkung der Bilanz, zur Finanzierung des Wachstums oder zur direkten Begünstigung der Aktionäre eingesetzt werden können. Diese Transaktion wird es Wellfield auch ermöglichen, sich auf Krypto- und dezentrale Finanzmöglichkeiten zu konzentrieren, insbesondere innerhalb seiner Marke Coinmama und der proprietären Blockchain-Technologie.
- Resumption of trading on TSX Venture Exchange
- Potential increase in shareholder value through Tradewind spin-off
- Expected $20M worth of Tradewind stock to be held by Wellfield post-spin-off
- Refocus on core business in crypto and decentralized finance
- None.
Toronto, Ontario--(Newsfile Corp. - October 1, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) ("Wellfield" or the "Company") is pleased to announce that the TSX Venture Exchange has approved the resumption of trading, effective at market opening on Tuesday, October 1, 2024.
With trading resumed, the Company will continue advancing its effort to spin-off of its wholly owned subsidiary, Tradewind Markets Inc. ("Tradewind") (the "Spin-off"), as previously announced on September 6, 2024.
The Spin-off marks a key milestone in Wellfield's July 16th announced strategy to establish Tradewind as an independent entity focused on revolutionizing the gold market. Wellfield believes that a successful spin-off will increase shareholder value by allowing capital markets to ascribe value, and provide additional capital, to Tradewind independently of Wellfield's core business, providing an opportunity for Tradewind to be funded and developed on its own with independent management and governance. Stakeholders are actively undertaking to establish a management team and board of directors, which will be disclosed in a subsequent news release.
Levy Cohen, Chief Executive Officer of Wellfield, commented, "A successful spin-off of Tradewind will support Wellfield as we pursue multiple strategic objectives. It will position Wellfield to hold
About Wellfield Technologies
Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions leveraging blockchain technology. Our platform Coinmama (web and Mobile app), provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. We offer disruptive on-chain and web3 secure and friendly self-custody solutions through Coinmama. Additionally, Wellfield operates Tradewind Markets platform to digitize and trade real-world assets, including our flagship VaultChain™ Gold and VaultChain™ Silver products. Expanding our offerings for institutional clients, we present Brane Trust aiming to operate Alberta Canada's second qualified digital asset custodian.
Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io
For further information contact:
Wellfield Technologies Inc.
Levy Cohen, CEO
levyc@wellfield.io
(832) 483-2575
Ryan Graybill, Investor Relations
ryan.graybill@wellfield.io
Cautionary Notice on Forward-Looking Statements
This news release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this news release includes statements regarding the Company's management pursuing various strategic alternatives towards achieving the Spin-off, including a public listing of Tradewind and strategic partnerships with third-parties; the success of Tradewind as an independent entity to seize untapped opportunities and its ability to deliver significant value to our shareholders following the Spin-off, which are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect; the completion of the RTO as announced September 6, 2024; the completion of the concurrent financing; the timeline to complete the RTO and the concurrent financing; the anticipated benefits of the RTO; the conditions to be satisfied for completion of the RTO; completion of the stock consolidation; the name and business carried on by the Resulting Issuer; the reliance on a prospectus exemption for the issuance of shares in the capital of Leonovus Inc. ("Leonovus") to Wellfield; obtaining a waiver from the TSXV sponsorship requirements; the timing and completion of the Tradewind platform upgrades; the terms of the ancillary agreements to the definitive agreement dated September 5, 2024 relating to the RTO, including the support agreement, non-competition agreement and investor rights agreement; and the approval of the TSXV of the transactions contemplated herein, which are based on Wellfield and Leonovus' current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Wellfield and Leonovus' actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. These risks and uncertainties include but are not limited to Wellfield and Leonovus satisfying the conditions for TSXV approval of the transactions herein; there is no assurance that the Financing will be completed or as to the actual gross proceeds to be raised in connection with the Financing; there is no assurance that Wellfield and Leonovus will obtain all requisite approvals for the RTO, including the approval of the shareholders of Leonovus, or the approval of the TSXV for the RTO (which may be conditional upon amendments to the terms of the RTO); following completion of the RTO, the Resulting Issuer may require additional financing from time to time in order to continue its operations, which may not be available when needed or on terms and conditions acceptable to the Resulting Issuer; unanticipated costs and expenses of the RTO or the Financing; the ability of Wellfield to conduct the Tradewind platform upgrades, in a timely manner, if at all; new laws or regulations could adversely affect the Resulting Issuer's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies, which fluctuations may adversely affect the price of the Resulting Issuer's securities, regardless of its operating performance; and general business, financial market, economic, competitive, political and social uncertainties. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated. Readers are cautioned that the foregoing list is not exhaustive, and readers are encouraged to review the disclosure documents accessible on Wellfield and Leonovus' respective SEDAR+ profile at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, Wellfield and Leonovus disclaims any intention and assumes no obligation to update or revise any forward-looking information.
All information contained in this news release with respect to Wellfield and Leonovus was supplied by the parties, respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning such party.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has approved nor disapproved the contents of this news release, nor do they accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225217
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