Mr. Levy Cohen reports

WELLFIELD PROVIDES UPDATE TO SHARES FOR DEBT TRANSACTION

Wellfield Technologies Inc., further to the company's June 3, 2024, news release, has decreased the aggregate indebtedness to be settled through the issuance of common shares in the capital of the company to $676,970 through the issuance of 11,043,395 common shares.

As previously announced in the original news release, the settlement shares will be issued to satisfy the company's outstanding debt related to the principal and accrued but unpaid portions of the interest payments outstanding under certain convertible debentures of the company, as well as certain payables for consulting services provided to the company. The settlement shares are proposed to be issued to the creditors at a deemed price of six cents per settlement share with respect to the debentures and 7.14 cents per settlement share with respect to the consulting payables. The settlement shares issued pursuant to the debt settlement shall be subject to the statutory hold period of four months and one day, and the debt settlement remains subject to the final approval of the TSX Venture Exchange.

About Wellfield Technologies Inc.

Wellfield is an R&D-focused (research and development) fintech company that operates on public blockchains, including Bitcoin and Ethereum. The company operates a regulated platform that on boards customers globally at scale, leveraging its proprietary decentralized technology to offer highly disruptive on-chain self-custody solutions. Wellfield operates through two brands: Coinmama, which, with a growing base of more than 3.5 million registered users, is one of the most trusted and enduring global brands operating in the crypto space; and Wellfield Capital, which, the company announced in late 2022, meets the needs of institutional users and professional investors.

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