Mr. Olivier Roussy Newton reports

DEFI TECHNOLOGIES ANNOUNCES LAUNCH OF NORMAL COURSE ISSUER BID

Defi Technologies Inc. intends to commence a normal course issuer bid (NCIB) to buy back common shares of the company through the facilities of Cboe Canada Inc. (the exchange) and/or other Canadian alternative trading platforms. The actual number of common shares that may be purchased under the NCIB and the exact timing of such purchases will be determined by the company.

The company is undertaking the NCIB because its management believes that, currently, and from time to time, the market price of its common shares may not reflect the underlying value of the company's business and prospects. Management believes that, at such times, the purchase of common shares for cancellation would be in the best interests of the company's shareholders and an appropriate use of its cash on hand. The company's current cash balance is approximately $69.9-million ($51-million (U.S.)).

The NCIB has been approved by the company's board of directors and accepted by the exchange, and will be executed in accordance with the applicable rules and policies of the exchange and any applicable Canadian securities laws. The NCIB shall commence on June 10, 2024, and run through June 9, 2025, or on such earlier date as the NCIB is complete.

Under the terms of the NCIB, the company may, if considered advisable, purchase its common shares in open market transactions through the facilities of the exchange and/or other Canadian alternative trading platforms, not to exceed up to 10 per cent of the public float for the common shares as of June 3, 2024, or 26,996,392 common shares, purchased in aggregate. The price that the company will pay for the common shares shall be the prevailing market price at the time of purchase and all purchased common shares will be cancelled by the company. In accordance with exchange rules, daily purchases (other than pursuant to a block purchase exception) on the exchange under the NCIB cannot exceed 25 per cent of the average daily trading volume on the exchange, as measured from Dec. 1, 2023, to May 31, 2024.

The company has appointed Ventum Financial Corp. to co-ordinate and facilitate purchases under the NCIB.

About Defi Technologies Inc.

Defi Technologies is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (Defi). With a dedicated focus on industry-leading Web3 technologies, Defi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, it is committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem.

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