WonderFi Announces Bitbuy Is Partnering With Cumberland To Improve Crypto Liquidity

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This press release constitutes a “designated press release” for the purposes of the Company’s prospectus supplement dated December 23, 2022 to its short form base shelf prospectus dated September 7, 2022.

Vancouver, British Columbia–(Newsfile Corp. – January 23, 2023) – WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the “Company” or “WonderFi”) is pleased to to announce that its primary operating subsidiary, Bitbuy Technologies Inc. (together with its affiliates, “Bitbuy”), has partnered with Cumberland DRW LLC (“Cumberland”) to further improve liquidity in the registered crypto asset market from Bitbuy.

Cumberland is a specialized crypto-asset trading subsidiary of DRW Trading Group (“DRW”), a leading diversified liquidity provider with over 30 years of experience in traditional and cutting-edge financial markets around the world. Cumberland, which was founded in 2014 and is now one of the world’s leading providers of liquidity in crypto assets, is expected to provide significant additional liquidity to the Bitbuy platform. This effort, which will be supported by DRW’s robust offices in Montreal and Toronto, should enable the Bitbuy trading platform to meet demand from large institutions and retail investors.

“We are delighted that Cumberland is working with Bitbuy as a Canadian registered crypto trading platform partner,” said Dean Skurka, Interim President and CEO of WonderFi. “By accessing Cumberland’s significant liquidity, Bitbuy is now better positioned as it continues to strive to offer its users some of the most competitive crypto pricing in Canada.”

“We are excited to continue to expand our footprint in Canada – an important market for Cumberland – by offering crypto liquidity to Bitbuy, a registered exchange serving crypto enthusiasts and large investors across Canada,” said Nathalie Ngo. , Relationship Manager for Canada. “Cumberland shares Bitbuy’s commitment to transparency, and we are confident that our deep and consistent liquidity will help the company serve its customers effectively and efficiently.”

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Additional information

For more information, please contact:

Acting President and CEO Dean [email protected]

Media / Investor RelationsBinu Koshy, Director of [email protected]

ABOUT WONDERFI

WonderFi is a leading technology company on a mission to create better unified access to digital assets through centralized and decentralized platforms. WonderFi’s management team and board have an established track record in finance and crypto. WonderFi’s core team of engineers and technologists believe everyone should have equal access to finance and are aligned with the mission of empowering people around the world to access finance in a simple, smart and easy way. secure. For more information visit www.wonder.fi.

ABOUT CUMBERLAND

Launched in 2014 as the crypto arm of global trading firm DRW, Cumberland is one of the world’s leading providers of crypto liquidity, serving institutional counterparties through the spot market and OTC derivatives. In addition to its core business activity, Cumberland’s global team partners with native TradFi and DeFi companies to advance their Web3 and DeFi strategies, serves as a resource for regulators and policymakers, and invests in promising new projects.

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 indicative of historical facts or information or of the current condition, 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 “may”, “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 could 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 improve liquidity in Bitbuy’s market and meet demand, the the Company’s ability to meet its anticipated commissioning schedule, any additional regulatory or other approvals that may become necessary in this regard, the Company’s ability to work effectively with its partners and changes in economic, business and general policies. 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. A more detailed description of the risk factors that may affect our business, financial condition and results of operations is set out in our MD&A and financial statements for the period ended September 30, 2022, as well as in our circular. annual, available on SEDAR.

Although the Company believes that the assumptions and factors used in the preparation of, 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.

The Toronto Stock Exchange has not approved or disapproved of the information contained in this press release.

The arrangement described in this press release does not create any partnership, joint venture, employment, agency or other formal business relationship between Bitbuy and Cumberland. Neither Bitbuy nor Cumberland will be responsible for the actions of the other with respect to the activities described in this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151370

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