Cash Reserves and Crypto Holdings Total $79.6 Million Post-February Financing
Financial Highlights (in CAD):
- Total assets as of December 31, 2021 were $46.9 million, including $28.8 million in cash and $11.3 million in crypto assets
- Net Cash Used in Operating Activities (Total Cash Burn) of $2.9 million for the quarter ended December 31, 2021
- Total loss and comprehensive loss of $5.7 million for the quarter ended December 31, 2021
Subsequent Financing
On February 4, 2022, WonderFi announced the closing of an upsized bought deal financing for gross proceeds of approximately $45 million. Post-financing the Company had cash, crypto holdings and other investments totaling $79.6 million including $64.3 million in cash and $14.5 million in crypto assets and other strategic investments, to enable continued execution of WonderFi business plan.
Access to Financial Statements and Management Discussion and Analysis
Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of issuers across Canada at www.SEDAR.com.
Exercise of Over-Allotment Option
The Company also announces today that the syndicate of underwriters led by Canaccord Genuity Corp. and including Cormark Securities Inc., Haywood Securities Inc. and PI Financial Corp. (collectively, the "Underwriters") have partially exercised their over-allotment option (the "Over-Allotment Option") to acquire an additional 808,333 common share purchase warrants of the Company ("Warrants") at a price of $0.20 per Warrant for additional gross proceeds of $161,666,60.
The Over-Allotment Option was granted to the Underwriters in connection with the Company's previously announced "bought deal" public offering, which included the sale of 18,750,000 units ("Units") at a price of $2.40 per Unit for aggregate gross proceeds of $45 million, which closed on February 4, 2021 (the "...
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