Commences Revenue Generation, Adds $412 million of Assets Under Custody ("AUC") and Approaches 750,000 Users
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2022) - WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (FTX: WNDR) (the "Company" or "WonderFi") today announced its second quarter 2022 financial results for the period ended March 31, 2022. All financial references are in Canadian dollars unless otherwise noted.
Financial Highlights:
WonderFi has commenced revenue generation through its acquisition of Bitbuy on March 25, 2022
Total assets as of March 31, 2022 were $598 million, including $18.8 million in cash and $20.6 million in crypto assets, as well as $412 million of AUC for customers
Cash used in operating activities, excluding one-time transaction costs related to the Bitbuy acquisition, of $4.1 million for the quarter ended March 31, 2022
Total loss and comprehensive loss of $14 million for the quarter ended March 31, 2022
Operating Highlights:
Closed acquisition of Bitbuy on March 25, 2022
Completed "bought deal" public offering for aggregate gross proceeds of $45 million
Signed definitive agreement to acquire Coinberry Limited ("Coinberry") on April 18, 2022
On closing of the acquisition, WonderFi will house one of the largest communities of Web3 users in Canada with over 750,000 users
"WonderFi's second quarter was marked by the transformative acquisition of Bitbuy, which immediately positions the company as one the leading...
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