Aug 12, 2021 DeFi Technologies Inc.

DeFi Technologies Announces LOI to Acquire Protos Asset Management GmbH

Company also Provides Upcoming Shareholder Call Connection Details

TORONTO, Aug. 12, 2021 /PRNewswire/ – DeFi Technologies, Inc. (NEO: DEFI)(OTC:DEFTF) (the “Company” or “DeFi Technologies”) is pleased to announce that it has entered into a letter of intent (the “LOI”) to acquire 100% of the issued and outstanding securities of Protos Asset Management GmbH (“Protos”) (the “Protos Acquisition”).

Protos, through their various funds and investment structures, gives investors exposure to professionally managed portfolios of cryptocurrency assets and DeFi networks. The founders have 18 combined years of investing in Bitcoin and cryptocurrencies.

Protos Quant accounts aim to systematically reduce risk while growing the size of its clients’ portfolios relative to their BTC & ETH benchmarks.

In 2017, Protos raised the first “tokenized” quantitative crypto fund, issuing the PRTS token (one of the first security tokens).

The LOI contemplates that DeFi Technologies and Protos will promptly negotiate and enter into a definitive agreement (“Definitive Agreement”), together with other documents that may be required in order to formalize and execute the terms of the Acquisition as outlined in the LOI.

Wouter Witvoet, DeFi Technologies Chief Executive Officer stated, “Since 2017, the team at Protos have created excellent infrastructure to give institutional and individual investors access to a diversified DeFi portfolio. They were also pioneers in allowing investors to access their quantitative investment strategies via the PRTS security token. It is these kinds of developments that I am excited to bring to the DeFi Technologies family and get to real scale using the platform we have created.”

Russell Starr, DeFi Technologies Executive Chairman, stated, “The acquisition of Protos paired with our planned acquisition of DeFi Yield and our current Valour ETP business creates an ideal symbiotic product offering for investors looking to get diversified exposure to the DeFi universe within one publicly listed company. These additions, along with the great team Defi Yield has assembled, now allows us to execute on our plans for rapid expansion throughout the DeFi universe. DeFi Technologies is now the most holistic publicly listed DeFi company in the world and should create tremendous shareholder value as we grow both organically and through acquisitions.”

Thomas Kineshanko, co-founder of Protos stated, “We believe that the combined strengths of DeFi Technologies and Protos will allow us to offer a portfolio of the highest quality DeFi products under one roof. Our team at Protos is deeply technical and passionate about DeFi and includes strong DeFi insights, quant trading and structured products capabilities. Through Protos we’ve brought several successful products to market early including the first tokenized hedge fund and one of the first and most successful DeFi yield hedge funds. This acquisition allows us to bring our technical experience and passion for DeFi to more users by leveraging the reach and world-class executive leadership that DeFi Technologies brings to the table.”

The completion of the Protos Acquisition is subject to the receipt of all necessary approvals, including without limitation, negotiation and execution of a Definitive Agreement, shareholder and board approval of each of Protos and the Company, as necessary, completion of due diligence and the satisfaction of all conditions (unless waived in writing) to be set out in the Definitive Agreement.

In consideration for the Protos Acquisition, the Company shall, upon closing of the Protos Acquisition, issue 7,500,000 common shares of the Company (the “DeFi Shares”) at a deemed price of $1.48 per DeFi Share to the shareholders of Protos The DeFi Shares shall be subject to an initial lock-up of three months, and then release in equal quarterly tranches over two years. Additional information in connection with the Protos Acquisition will be provided by the Company in subsequent press releases.

Through the Protos Acquisition, DeFi Technologies will have ownership of the operating business, all intellectual property, and brand of Protos and will assume the core operating team of Protos.

Shareholder Call

Separate from its acquisition of Protos, the Company will also conduct a shareholder call on August 16, 2021 at 12:00 p.m. EST to discuss its strong financial performance for the three and six-month period ending June 30, 2021. The Company expects to release numbers related to the first half period of the year on August 13, 2021. In addition, the Company intends to discuss its recent acquisitions and the corporate strategy for rapid and sustainable growth built on its current successes.

About Protos

Founded in Switzerland in 2017, Protos Asset Management GmbH (“Protos”) is a leading provider of systematic crypto and Defi exposure. Protos provides a secure way to invest in cryptocurrency assets and DeFi networks that is systematically traded for accredited individuals, family offices, institutions and funds of funds. For more information visit https://protosmanagement.com/

About DeFi Technologies

DeFi Technologies, Inc. (NEO: DEFI)(OTC:DEFTF) is a Canadian company that carries on business with the objective of enhancing shareholder value through building and managing assets in the decentralized finance sector. For more information visit https://defi.tech/

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Proto Acquisition and the Definitive Agreement; timing of release of quarterly financial statements; the shareholder call; the decentralized finance industry and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company or Protos, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE DeFi Technologies, Inc.

Please See Disclaimer

STOCKS YOU MAY LIKE


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, DeFi Technologies Inc. Market Jar Media Inc. has or expects to receive from DeFi Technologies Inc’s Digital Marketing Agency of Record (Native Ads Inc.) two hundred thirty six thousand two hundred and fifty dollars CAD for 23 days (17 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on StreetSignals.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on StreetSignals.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding DeFi Technologies Inc.'s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to DeFi Technologies Inc.'s industry; (b) market opportunity; (c) DeFi Technologies Inc.'s business plans and strategies; (d) services that DeFi Technologies Inc. intends to offer; (e) DeFi Technologies Inc.'s milestone projections and targets; (f) DeFi Technologies Inc.'s expectations regarding receipt of approval for regulatory applications; (g) DeFi Technologies Inc.'s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) DeFi Technologies Inc.'s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute DeFi Technologies Inc.'s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) DeFi Technologies Inc.'s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) DeFi Technologies Inc.'s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) DeFi Technologies Inc.'s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of DeFi Technologies Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) DeFi Technologies Inc.'s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises may adversely impact DeFi Technologies Inc.'s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing DeFi Technologies Inc.'s business operations (e) DeFi Technologies Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, DeFi Technologies Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does DeFi Technologies Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither DeFi Technologies Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of DeFi Technologies Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of DeFi Technologies Inc. or such entities and are not necessarily indicative of future performance of DeFi Technologies Inc. or such entities.