Newly appointed Directors have proven track records across technology, innovation, global markets and driving shareholder value
This news release constitutes "a designated news release" for the purposes of WonderFi Technologies Inc.'s prospectus supplement dated December 23, 2022, to its short form base shelf prospectus dated September 7, 2022.
Toronto, Ontario--(Newsfile Corp. - April 17, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (the "Company" or "WonderFi"), Canada's leading operator of regulated crypto trading platforms and other digital asset businesses, today announced the appointments of Jaime Leverton and Noel Biderman to the board of directors of WonderFi (the "Board"), effective April 16, 2024. WonderFi also announced the appointment of current director Bobby Halpern as Chairman of the Board.
The appointments of these two highly qualified individuals are consistent with the Board's refreshment practices, that consider the mix of skills, experience, expertise, and tenure, among members of the Board. Ms. Leverton and Mr. Biderman bring with them decades of relevant experience and track records of driving value for stakeholders.
"Jaime brings a wealth of executive experience in public crypto and digital payment markets across Canada and the U.S. Her expertise lies in navigating the changing compliance environment as crypto is rapidly being adopted into existing global financial services. WonderFi's commitment to total compliance with regulators is vital for the next generation of crypto exchanges globally. As WonderFi prepares for its next phase of growth, Jaime's addition to the board is significant. As a shareholder, I see this a very positive development towards unlocking the full value of WonderFi," said Kevin O'Leary, WonderFi Investor and Chairman of O'Leary Ventures.
"WonderFi continues to be at the forefront of the digital assets industry and requires an agile Board that will help the Company to continue to deliver value for its customers and shareholders. It has been valuable to work with Noel as an advisor to the Company, and I look forward to continuing to work with him now as a Board member. Noel brings invaluable perspectives and insights as a business builder, and I believe he will be a strong addition to the Board at a critical and exciting time in the Company's history," said Dean Skurka, WonderFi President & CEO.
Ms. Leverton is a leader in the Canadian technology and crypto industries, with deep experience in capital markets and digital assets. She most recently served as Chief Executive Officer of Hut 8 Mining Corp., one of the largest publicly traded Bitcoin mining companies where she facilitated extensive M&A and capital markets activities, including the company's Nasdaq listing. Ms. Leverton previously held leadership roles as Chief Commercial Officer at eStruxture Data Centers and General Manager, Vice President for Canada and APAC for Cogeco Peer 1 (now Aptum). Ms. Leverton also served as Managing Director, Financial Markets, for National Bank of Canada and as Vice President Carrier Sales and Distribution, Americas at BlackBerry in addition to leadership roles at both Bell Canada and IBM Canada. Her demonstrated track record and transformational expertise as an executive at some of Canada's leading public and private companies will be crucial for the Company as a member of the Board.
Mr. Biderman brings storied experience in technology and brand building. He currently serves as Co-Founder of Avenue Insights, which provides predictive analysis to U.S. and Canadian law firms. He most recently served as Strategic Advisor to WonderFi in developing the launch of the Company's iGaming and equities trading scenarios. Mr. Biderman also served as Chief Marketing Officer and Management Advisor at Bitbuy, WonderFi's wholly owned crypto trading platform. As President and Chief Executive Officer of Avid Life Media Inc. ("Avid"), Mr. Biderman grew Avid into one of the largest online dating companies in the world, generating over $100 million in annual revenues. Mr. Biderman is a graduate of Osgoode Hall Law School and during his career represented 47 professional athletes globally, including a number of Canadian Olympians.
Mr. Halpern has served as a WonderFi Board member since July 2023. He is principal of Toronto-based Halpern & Co., which led the private buy-out of Bitbuy in early 2018 prior to WonderFi's acquisition of the platform in 2022.
WonderFi directors Christopher Marsh and Nicholas Thadaney have stepped down as directors, effective April 16th, 2024. The Board expresses its deep appreciation for their contributions to WonderFi.
Mr. Thadaney joined the Coinsquare board in August 2020 and was central in positioning the company for success in regulated markets. He also helped Coinsquare Capital Markets Ltd. ("CCML"), a subsidiary of Coinsquare, receive IIROC registration. Mr. Thadaney is a founding member and current director of Tetra, one of the first qualified custodians for digital assets in Canada, and 34% owned by WonderFi. Mr. Thadaney will remain on the CCML board and will be one of WonderFi's nominees on Tetra's board.
Mr. Marsh was instrumental in building the underlying technology that powers Bitbuy and was the former President and Chief Financial Officer of Blockchain Foundry Inc., which WonderFi acquired in 2022. Mr. Marsh will join the CCML board and remain a significant shareholder in the Company.
"We thank Nick and Chris for their contributions to WonderFi during their tenures on the Board. The success we have realized over the last year, including delivering strong financial results and closing the transformational merger of WonderFi, Coinsquare and CoinSmart, was due in part to their important contributions to the foundations of our business. We are grateful to them for helping to position WonderFi to enter this next stage of growth and look forward to their continued support," continued Mr. Skurka.
About WonderFi WonderFi owns and operates Bitbuy and Coinsquare, two leading domestic crypto platforms with strongholds in the Canadian market as well as through SmartPay, its global crypto payments platform.
With a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding $1.5 billion, WonderFi serves one of the largest crypto investor communities in Canada.
Media Riyaz Lalani & Dan Gagnier Gagnier Communications (416) 305-1459 [email protected]
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" 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 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.
In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. It is important to note that there are risks and uncertainties, both known and unknown to the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking information and forward-looking statements, many of which are outside of the control of WonderFi. A fulsome description of known risk factors that may impact the 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 December 31, 2023, as well as its most recent annual information form available on its SEDAR+ profile at https://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. Any 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.
The Toronto Stock Exchange has not approved or disapproved of the information contained in this release.
