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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wellfield Technologies Inc | TSXV:WFLD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.01 | -13.33% | 0.065 | 0.065 | 0.07 | 0.07 | 0.065 | 0.07 | 91,443 | 20:56:59 |
TORONTO, April 26, 2022 /CNW/ - Wellfield Technologies, Inc. (TSXV: WFLD) (FRANKFURT: K8D) (the "Company" or "Wellfield"), today reported financial results for the year ended December 31, 2021. All currency references used in this news release are in Canadian dollars ($) unless otherwise noted.
Levy Cohen, CEO of Wellfield commented, "Since the Company's public listing on November 30th, our team has made substantial progress positioning Wellfield to deliver next generation fintech solutions based on blockchain technology beginning later this year. The acquisition of Coinmama, which we expect to close in Q2 of 2022, will add approximately US$130 million in annual sales1 to Wellfield's top line. Even more importantly, Coinmama brings 3.5 million registered users to the Company, a trusted consumer-facing brand and millions of unique visitors per year, beyond its current user base. We will engage with these audiences to enable the rapid launch of our blockchain-based products and services later this year, and have identified several opportunities to grow Coinmama's user base and enhance the monetization of these users, over the next several years."
________________________ |
1 Unaudited fiscal 2021 results |
Wellfield builds advanced technology that uses blockchain to create the next generation of financial solutions for institutions and consumers. The Company has strong academic, business and development expertise in the rapidly growing Decentralized Finance (DeFi) sector, building its branded applications and critical infrastructure solutions directly on public blockchains like Bitcoin and Ethereum.
Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io.
This press 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 statements in this news release include statements regarding the Company's success in launching the protocols and other technologies and utilities discussed herein. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company's business and results of operations; the impact of COVID-19; the decentralized finance industry generally, in Canada and abroad; and general business, economic, competitive, political and social uncertainties. Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the listing application prepared in accordance with the policies of the TSXV and other disclosure documents accessible on the Company's SEDAR profile at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements 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, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Wellfield Technologies
Copyright 2022 Canada NewsWire
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