Wellfield Technologies Receives TSX Venture Exchange Conditional Listing Approval

• Expected to begin trading on the TSX Venture Exchange, on or about November 30, 2021, under the ticker WFLD.
• Wellfield's wholly owned subsidiary - Seamless Logic Software Limited - fills critical infrastructure gaps in today's Decentralized Finance (DeFi) ecosystem, through the development of decentralized protocols for the Ethereum and Bitcoin blockchains.
• The Company's MoneyClip brand leverages decentralized technology to offer consumer-facing financial applications powered by blockchain, giving consumers easy access to, and greater control over their money, harnessing the full value and flexibility offered by DeFi.

VANCOUVER, BC, Nov. 18, 2021 /CNW/ - 1290447 B.C. Ltd. is pleased to announce that, in connection with the previously disclosed business combination (the "Business Combination") with Seamless Logic Software Limited ("Seamless") and MoneyClip Inc. ("MoneyClip"), the TSX Venture Exchange (the "Exchange") has conditionally accepted the listing (the "Listing") of post-Business Combination common shares (the "Shares") and certain warrants (the "Warrants") of 1290447 B.C. Ltd. to be re-named "Wellfield Technologies Inc." (the "Resulting Issuer", "Wellfield" or the "Company").

The Business Combination is expected to be completed on or about November 23, 2021. Subject to the satisfaction of certain customary conditions outlined in the Exchange's conditional approval letter, the Resulting Issuer Shares and warrants are expected to begin trading on the Exchange on or about November 30, 2021, under the trading symbols "WFLD" and "WFLD.WT" respectively.

"Disintermediation has changed the way consumers interact with long established industries, from media to retail, and Decentralized Finance has the potential to do the same for the financial world," said Levy Cohen, CEO of Wellfield. "However, much of the DeFi infrastructure in place today, and the solutions built on top of it, are either broadly centralized, or generally irrelevant to the daily financial interactions of most people. Wellfield's mission is to enhance and harness the power of the DeFi ecosystem - and bring it into the mainstream financial system."

Mr. Cohen continued, "We are fortunate to have assembled an impressive senior team with the right combination of skills to continue building and commercializing unique decentralized solutions that are designed to not only disrupt a broader system, but to enable consumers to adopt and use the new internet of money in their everyday lives. 2022 will be an exciting year for Wellfield, and we look forward to leveraging the reach of the public markets to support the transformation to DeFi and deliver consistent value for both consumers and shareholders."

Additional information concerning the Business Combination, the recently completed $20,475,000 concurrent private placement and the Resulting Issuer may be found in the Resulting Issuer's listing application on Form 2B (the "Listing Application"), prepared in accordance with the policies of the Exchange and available under the 1290447 B.C. Ltd. SEDAR profile at www.sedar.com.

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

Investors are cautioned that, except as disclosed in the Listing Application accessible on the 1290447 B.C. Ltd. SEDAR profile at www.sedar.com, any information released or received with respect to the Business Combination may not be accurate or complete and should not be relied upon.

Certain information in this news release constitutes "forward-looking information" under applicable securities laws. "Forward-looking information" is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes future-oriented financial information with respect to prospective financial performance, financial position or cash flows that is presented as a forecast or a projection. Forward-looking statements are often but not always, identified by the use of such terms as "may", "might", "will", "will likely result", "would", "should", "estimate", "plan", "project", "forecast", "intend", "expect", "anticipate", "believe", "seek", "continue", "target" or the negative and/or inverse of such terms or other similar expressions.

Forward-looking information in this news release includes, but is not limited to, statements relating to the proposed listing of the Resulting Issuer's shares and warrants on the TSX Venture Exchange (the "Exchange") and the potential effects of the Business Combination, including the expectation that the completion of the Business Combination will allow for Seamless and MoneyClip to expand their R&D, product pipeline and user base.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the timing of the closing of the Business Combination; the risks that the conditions to the Business Combination or final Exchange listing approval would not be satisfied within the expected timeframe or at all; and changes in economic conditions, regulation, competition and other risks and uncertainties applicable to the business of the Resulting Issuer and the decentralized finance industry generally. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. The Resulting Issuer disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the Listing Application accessible under the 1290447 B.C. Ltd. 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.

Neither the Exchange nor its Regulation Services Provider (as defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Wellfield Technologies Inc.

1290457 B.C. Ltd., Michael Lerner, Director, [email protected]; Seamless Logic Software Limited, Levy Cohen, CEO, [email protected]; MoneyClip Inc., Chanan Steinhart, CEO, [email protected]