WonderFi Announces Acquisition of Blade Labs Solana Infrastructure

Rhea-AI Summary

WonderFi Technologies (TSX: WNDR, OTCQB: WONDF) has acquired intellectual property from Blade Labs focused on Solana ecosystem tooling and infrastructure through an all-cash transaction. The acquisition includes Blade Labs' Solana debugging tool, Bokken, and other Solana-based infrastructure.

The acquired assets are intended to enhance WonderFi Labs' open-source Solana-based tooling and on-chain offerings. This non-dilutive acquisition aligns with WonderFi's belief in an on-chain future and support for the Solana ecosystem.

The announcement comes amid Solana's significant growth, with its native token SOL reaching a $90 billion market cap. The network has demonstrated strong user engagement with over 4.5 million daily active addresses and more than $8 billion in total value locked.

Positive

• Non-dilutive all-cash acquisition preserving shareholder value
• Strategic acquisition of Solana debugging tools and infrastructure
• Integration with growing Solana ecosystem ($90B market cap)
• Access to large user base (4.5M daily active addresses)

Negative

• Financial terms of acquisition not disclosed
• Integration and development costs not specified

Acquisition of Blade Labs Solana-focused intellectual property is intended to complement WonderFi Labs on-chain efforts

Solana is an industry leading Layer-1 blockchain that focuses on fast, and scalable access to decentralized products and services

Toronto, Ontario--(Newsfile Corp. - January 16, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced that it has acquired intellectual property from Blade Labs Corp. ("Blade Labs") related to Solana ecosystem tooling and infrastructure. The all-cash transaction was completed by way of an asset purchase agreement and financial terms were not disclosed.

"WonderFi believes that the future is on-chain and is a strong supporter of the Solana ecosystem," said WonderFi President and Chief Executive Officer, Dean Skurka. "The non-dilutive acquisition of Solana intellectual property will complement WonderFi's on-chain ambitions," added Mr. Skurka.

Under the terms of the agreement, WonderFi has acquired Blade Labs' Solana debugging tool, Bokken, and other Solana based infrastructure. The acquired intellectual property is intended to provide enhanced open-source Solana based tooling to WonderFi Labs and its on-chain offerings.

Michael Petch, Founder of Blade Labs, commented on the acquisition, "We're proud to have been an early supporter of the Solana network having built out innovative tooling products at Blade Labs - including the ecosystems first debugger. We look forward to WonderFi Labs integrating these tools and driving on-chain growth on Solana."

WonderFi's acquisition of a Solana-focused developer tooling follows a year of record growth for the Solana ecosystem with their native token SOL currently trading at a $90 billion market cap. Furthermore, the network has seen surging user activity with over 4.5 million daily active addresses this month and more than $8 billion in total value locked.

About WonderFi

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

With over $2.1 billion 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 registrations. It is also the owner of 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.

About Blade Labs

Founded in 2022, Blade Labs is a pioneering force in the Solana ecosystem. As a steadfast supporter of Solana's vision for a high-performance blockchain, Blade Labs has played a key role in empowering the network through the development of advanced staking infrastructure and innovative developer tooling. Blade Labs previously ran Solana validators in Toronto, Canada, contributing to the security and decentralization of the Solana blockchain.

Additional Information

For additional information, please contact:

Media / Investor Relations
Charlie Aikenhead
Invest@wonder.fi

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 financial 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; the Company's ability to provide a competitive service within the regulated crypto asset trading platform industry; the Company's ability to manage its capital and non-capital expenses . 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 September 30, 2024, available on its SEDAR+ 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237383

FAQ

What intellectual property did WonderFi (WONDF) acquire from Blade Labs?

WonderFi acquired Blade Labs' Solana debugging tool called Bokken and other Solana-based infrastructure tooling through an all-cash transaction.

How will the Blade Labs acquisition impact WonderFi's (WONDF) operations?

The acquisition will complement WonderFi Labs' on-chain efforts by providing enhanced open-source Solana-based tooling and infrastructure capabilities.

What is the current market performance of Solana's ecosystem where WONDF is investing?

Solana's ecosystem shows strong performance with a $90 billion market cap, over 4.5 million daily active addresses, and more than $8 billion in total value locked.

Was the WonderFi (WONDF) acquisition of Blade Labs dilutive to shareholders?

No, the acquisition was non-dilutive as it was completed through an all-cash transaction, preserving shareholder value.