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Wellfield Technologies Inc
Symbol WFLD
Shares Issued 175,004,968
Close 2024-06-18 C$ 0.07
Market Cap C$ 12,250,348
Recent Sedar Documents

Wellfield completes $100,000 second-tranche drawdown

2024-06-19 12:36 ET - News Release

Mr. Levy Cohen reports

WELLFIELD ANNOUNCED $100,000 SECOND TRANCHE DRAWDOWN WITH ALUMINA PARTNERS

Wellfield Technologies Inc. has completed a second-tranche drawdown of $100,000 pursuant to the investment agreement dated March 1, 2024, with Alumina Partners (Ontario) Ltd., an affiliate of New York based private equity firm Alumina Partners LLC. As previously announced on March 12, 2024, the Investment Agreement provides the Company with access to a drawdown equity financing facility of up to $5,000,000 over a 24-month period.

Pursuant to the Second Tranche, the Company issued $100,000 of units of the Company (each, a "Unit") at a price of $0.05625 per Unit, with each Unit consisting of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant") exercisable to acquire one Common Share at a price of $0.09375 per Common Share for a period of 36 months from the date of issuance thereof. The closing of the Second Tranche is subject to the approval of the TSX Venture Exchange (the "TSXV"), and the securities issued thereunder will be subject to a four month and one day hold period pursuant to applicable securities laws.

Levy Cohen, CEO of Wellfield, commented, "We are pleased with the ongoing investments by Alumina as well as the higher price per unit and per warrant in this second tranche as compared to the first tranche under our investment agreement."

About Wellfield Technologies

Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions leveraging blockchain technology. Our platform Coinmama (web and Mobile app), provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. We offer disruptive on-chain and web3 secure and friendly self-custody solutions through Coinmama. Additionally, Wellfield operates Tradewind Markets platform to digitize and trade real-world assets, including our flagship VaultChain(TM) Gold and VaultChain(TM) Silver products. Expanding our offerings for institutional clients, we present Brane Trust aiming to operate in Alberta Canada's second qualified digital asset custodian.

We seek Safe Harbor.

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