Wellfield Technologies Announces Appointment of Globally Recognized Computer Science Expert Amir Shpilka as Member of Advisory Board

• Amir Shpilka is a globally recognized professor and researcher in the field of theoretical computer science. His main research focus is on computational complexity theory, algebraic complexity, and coding theory.
• Currently, Prof. Shpilka is a faculty member at the Blavatnik School of Computer Science, at Tel Aviv University, where he previously served as the head of the Computer Science Department.
• Professor Shpilka has been a significant contributor to Wellfield's blockchain technology, almost since inception, and he now joins the Advisory Board as the Company begins to commercialize its IP.

VANCOUVER, BC, Dec. 29, 2021 /CNW/ - Wellfield Technologies Inc. (TSXV: WFLD) (the "Company" or "Wellfield"), is pleased to announce that it has named Amir Shpilka, a globally recognized professor and researcher, as the third member of the Company's advisory board. This follows the appointments of Global Payments and Fintech Leader William Keliehor and Global Financial Leader, Professor Tamir Agmon.

Management Commentary

Levy Cohen, CEO of Wellfield commented, "Our success in developing novel and high value blockchain technologies is largely due to the Company's access to a breadth and depth of academic expertise that few Fintech organizations are able to access. Since 2018, Amir has played an active role in the planning and architecture of all our services, including the cross blockchain trading protocol, our product designed to make Bitcoin compatible with DeFi, as well as other purpose-built IPs. We are honored to have Amir join the Company's advisory board, look forward to continuing to leverage his expertise and appreciate his continued contributions to our research efforts." 

Prof. Amir Shpilka

Prof. Shpilka graduated with a Ph.D. in Computer Science and Mathematics from the Hebrew University in Jerusalem in 2001 under the supervision of Prof. Avi Wigderson. Prior to moving to Tel Aviv University, he was a professor of computer science at the Technion–Israel Institute of Technology. He supervised students that are now professors at leading institutions such as Princeton University, University of Illinois at Urbana Champagne and the Technion–Israel Institute of Technology.

Most recently, Prof. Shpilka has been studying questions lying at the intersection of algebraic geometry and algebraic complexity and questions concerning codes for storage. He publishes regularly at the top venues in theoretical computer science and coding theory. His publications can be found at https://www.cs.tau.ac.il/~shpilka/publications/. Prof. Shpilka has been involved in Seamless Logic Software, a wholly owned subsidiary of Wellfield, almost since its inception.

About Wellfield Technologies

Wellfield is focused on unlocking the power of decentralized finance (DeFi) by building open and accessible decentralized protocols and also blockchain based consumer products. Seamless - the Company's protocol layer brand - focuses on solutions that enhance and optimize liquidity in the Ethereum ecosystem, make Bitcoin compatible with DeFi, and enable decentralized cross blockchain exchange. MoneyClip - Wellfield's application layer brand - is powered by DeFi to enhance everyday financial products and make money work for the way people live.

Cautionary Notice

A listing application prepared in accordance with the policies of the TSXV (the "Listing Application") is available on the Company's SEDAR profile, available at www.sedar.com, and contains additional information regarding Wellfield. The contents of this press release are expressly qualified by the disclosures and contents of the Listing Application and readers are encouraged to review the Listing Application. Investors are cautioned that, except as disclosed in the Listing Application, any information released or received with respect to the Wellfield may not be accurate or complete and should not be relied upon. Trading in the securities of Wellfield should be considered highly speculative.

The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. Wellfield's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Notice on Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Company's success in launching the protocols and other technologies and utilities discussed herein. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company's business and results of operations; the impact of COVID-19; the decentralized finance industry generally, in Canada and abroad; and general business, economic, competitive, political and social uncertainties. Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the Listing Application accessible on the Company's SEDAR profile at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

SOURCE Wellfield Technologies

Wellfield Technologies Inc., Levy Cohen, CEO, [email protected]; Jonathan Ross, Investor Relations, [email protected], [phone]