WonderFi Announces First Quarter 2022 Financial Results

Cash reserves and crypto holdings total $79.6 million in funding after February

Vancouver, British Columbia–(Newsfile Corp. – February 11, 2022) – WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (FTX: WNDR) (the “Society” Where “WonderFi“) today announced its quarterly financial results for the period ended December 31, 2021.

Financial Highlights (in CAD):

  • Total assets as of December 31, 2021 were $46.9 million, including $28.8 million in cash and $11.3 million in crypto assets

  • Net cash used in operating activities (total cash burn) of $2.9 million for the quarter ended December 31, 2021

  • Total loss and comprehensive loss of $5.7 million for the quarter ended December 31, 2021

Subsequent funding

On February 4, 2022, WonderFi announced the closing of a raised bought deal financing for gross proceeds of approximately $45 million. After the funding, the company had cash, crypto assets and other investments totaling $79.6 million, including $64.3 million in cash and $14.5 million in crypto assets and other investments. to enable the continued execution of WonderFi’s business plan.

Access to financial statements and management discussions and analyzes

The complete financial statements and related management discussion and analysis can be found in the Electronic Document Retrieval and Analysis System, the electronic filing system for issuers’ disclosure documents across Canada at www. SEDAR.com.

Exercise of the over-allotment option

The Company also announces today that the syndicate of underwriters led by Canaccord Genuity Corp. and comprising Cormark Securities Inc., Haywood Securities Inc. and PI Financial Corp. (collectively, the “Subscribers“) partially exercised their over-allotment option (the “Over-allotment option“) to acquire 808,333 additional common stock purchase warrants of the Company (“Mandates“) at a price of $0.20 per warrant for additional gross proceeds of $161,666.60.

The Over-Allotment Option was granted to the underwriters in connection with the Company’s previously announced issuer bid, which included the sale of 18,750,000 units (“Units“) at a price of $2.40 per unit for aggregate gross proceeds of $45 million, which closed on February 4, 2021 (the “Offer“). Each Unit consisted of one ordinary share of the capital of the Company (“Ordinary share“) and one-half warrant, each whole warrant exercisable into one common share at a price of $3.10 until February 4, 2024. Pursuant to the offering, the underwriters have been granted the option to over-allotment, which could be exercised in whole or in part during a period of 30 days following the closing date of the placement, to purchase up to 2,812,500 additional units at a price of $2.40 per unit, or a combination of common shares and warrants at a price of $2.30 and $0.20, respectively, provided that the aggregate number of common shares and warrants does not exceed 2,812,500 and 1,406,250, respectively, for market stabilization purposes and to cover over-allocations.

The partial exercise of the Over-Allotment Option brings the total number of Common Shares and Warrants issued under the Offering to 18,750,000 and 10,183,333, respectively, for aggregate gross proceeds of 45,161,666, $60.

The Units issued under the Offering (including the Warrants issued pursuant to the Over-Allotment Option) were offered by way of a short form prospectus dated January 31, 2022 in each of the provinces and territories of Canada, at except Quebec. Copies of the final short form prospectus and the documents incorporated by reference therein are available electronically under the Company’s issuer profile on SEDAR at www.sedar.com.

The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“), or any state securities law and may not be offered or sold in the United States or to, or for the account or benefit of, “US Persons” (as that term is defined in the Regulation S of the US Securities Act) in the absence of such registration or an applicable exemption from the registration requirements of the US Securities Act. This press release does not constitute an offer to sell securities for sale, or a solicitation of offers Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and its management, as well as financial statements.

Additional information
For more information, please contact:

WonderFi Technologies Inc.
Ben Samaroo, CEO
[email protected]
(778) 843-9637

Contact Investor Relations: [email protected]
Media contact: [email protected]


WonderFi is a leading technology company on a mission to create greater access to digital assets through centralized and decentralized compliant platforms. WonderFi has a multi-pronged business strategy that includes a high-growth consumer finance app that will serve as a trusted gateway to the new financial system, and a digital asset portfolio that consists of top-tier crypto and DeFi assets. . WonderFi’s management team and board have an established background in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital and Hut 8. The core team of engineers and WonderFi technologists believe everyone should have equal access to finance, and are aligned with the mission of enabling people around the world to access DeFi in an easy, smart, and secure way. For more information visit www.wonder.fi.

Forward-looking information and statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws 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 of the current situation, but rather represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and beyond the Company’s control. Generally, such forward-looking information or statements can be identified by the use of forward-looking words such as “could”, “intend”, “expect”, “believe”, “will”, ” projected”, “estimate”, or variations of these words.

By identifying such information and statements in this manner, the Company cautions the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company. be materially different from those expressed or implied by such information and statements. Additionally, 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: the Company’s ability to work effectively with strategic investors; and changes in general economic, business and political conditions, including changes in financial markets, changes in applicable laws and compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying any forward-looking information or statements prove incorrect, actual results may differ materially from those described herein.

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 assurances or warranties can be assured 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 contained or referred to 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 are expressly qualified in their entirety by this notice.

Neither NEO Exchange nor its Regulation Services Provider (as that term is defined in the policies of NEO Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Not for distribution to US news agencies or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113642

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