Wellfield Technologies to Begin Trading on TSX Venture Under the Ticker WFLD

• Wellfield builds critical infrastructure and applications that unlock the power of decentralized finance ("DeFi") by removing intermediaries and making adoption easy for consumers.
• During 2022, the Company anticipates launching solutions that: make bitcoin compatible with DeFi; enable decentralized cross-blockchain training; permit existing DeFi liquidity providers to scale; and empower non-participating institutions to put capital to work within familiar risk frameworks.
• Wellfield is led by a senior management team and board of directors composed of individuals with proven histories of scaling publicly traded growth companies, and generating value for shareholders.
• Wellfield common shares and certain warrants will begin trading on the TSX Venture Exchange on November 30, 2021, under the tickers WFLD and WLFD.WT, respectively.

VANCOUVER, BC, Nov. 29, 2021 /CNW/ - Wellfield Technologies Inc. (the "Company" or "Wellfield"), is pleased to announce that its common shares and certain warrants will begin trading on the TSX Venture Exchange ("TSXV") on November 30, 2021.

Management Commentary

"The opportunity for decentralized finance to reinvent the way people use payments and access banking, and also reward the businesses and investors who play key roles in this revolution, is immense." said Levy Cohen, CEO of Wellfield. "As with many early growth industries, there are limited investable opportunities in the public markets. We see some talented cryptocurrency businesses that are not future proofing for, or building their services on DeFi, but also capital markets vehicles that have been assembled to take advantage of the hype. In our view, Wellfield is uniquely positioned in the public markets as a business that takes a forward looking and holistic approach to DeFi's evolution by developing smart contracts and other protocol technologies directly on public blockchains and leveraging the best that the DeFi ecosystem has to offer to build better products for our everyday financial lives."

Mr. Cohen continued, "We expect the next 12 months to be a very exciting period for Wellfield, as we begin to release decentralized protocols on the Ethereum and Bitcoin blockchains, and build out the MoneyClip application. We have highly qualified senior management and engineering teams, backed by a board of directors with the right mix of experience to position the Company for success. Recently we announced the addition of Marc Lustig, Christie Henderson, and Dr. Neal Sample to the board, and on behalf of the entire team I would like to welcome them to Wellfield. Each of these individuals brings a proven track record of building and managing successful businesses in growth sectors, and their collective experience in finance, strategy and technology will be an important resource for our management team as we execute our on our growth roadmap."

Wellfield – Background

Wellfield's investor relations website can be accessed here: investors.wellfield.io

Wellfield's core mission is to build infrastructure that advances the evolution of DeFi and also consumer facing products that improve our everyday financial lives. By delivering on this mission, the Company aims to contribute to technologies on public blockchains that support the global financial systems and applications of the future. The Company is focusing its attention to harness better interest rates, lower fees, seamless user experiences and the freedom and control DeFi offers to create products that improve the financial lives of people in Canada and also around the world.

Wellfield is developing a blockchain-based infrastructure for financial services that will extend existing financial services to any participant in an open, cost efficient and transparent way through applications based on innovative blockchain protocols.

• Wellfield's wholly owned subsidiary - Seamless Logic Software Limited - focuses on solving critical infrastructure challenges in today's DeFi ecosystem, such as decentralized cross blockchain exchange, making Bitcoin compatible with DeFi and managing risk & optimizing liquidity in the Ethereum ecosystem.
• 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.

Taken together, the Company's solutions are expected to facilitate and give people access to an open financial system with unprecedented transparency, equal access rights, and little (or no) need for intermediaries who charge high economic rents. By combining distributed financial protocols with regulatory compliant consumer applications, management has a unique vision to build a sustainable and disruptive fintech business that prepares for DeFi's evolution. 

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 Inc.

Wellfield Technologies Inc., Levy Cohen, CEO, [email protected]