Mr. Levy Cohen reports

WELLFIELD TECHNOLOGIES, INC. REPORTS Q3 FINANCIAL RESULTS

Wellfield Technologies Inc. has released its unaudited financial results for the third quarter ended Dec. 31, 2023, which are available on the company's SEDAR+ profile.

Financial highlights:

• Gross margins of $920,000 for Q3 compared with $1.1-million in Q2;
• Cash and current receivables of $860,000 for Q3 compared with $1.14-million in Q2;
• Net loss of two cents per share for Q3 compared with net loss of two cents per share for Q2.

Management commentary

Levy Cohen, chief executive officer of Wellfield, commented: "This third fiscal quarter represented an important transitional period for Wellfield as we move past the operational reorganization of Coinmama's business and begin to lay the foundations for future growth. During the last quarter, we saw a profound industry-wide sentiment shift with the solidification of cryptocurrencies as a legitimate asset class and the recognition of blockchain as a disruptive technology to improve traditional financial markets. As we push forward with our efforts in tokenized gold, bitcoin defi [decentralized finance], institutional custody and, at Coinmama, our focus at Wellfield includes a strategic plan to fortify our balance sheet to position us to seize the opportunities ahead."

About Wellfield Technologies Inc.

Wellfield Technologies is a leading fintech (financial technology) company specializing in innovative solutions leveraging blockchain technology. Its platform, Coinmama (Web and mobile app), provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. Wellfield offers disruptive on-chain and Web3 secure and friendly self-custody solutions through Coinmama. Additionally, Wellfield operates the Tradewind Markets platform to digitize and trade real-world assets, including its flagship VaultChain gold and VaultChain silver products. Expanding its offerings for institutional clients, Wellfield presents Brane Trust Company Ltd., aiming to operate in Alberta -- Canada's second qualified digital asset custodian.

We seek Safe Harbor.