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WonderFi Completes Bitbuy Acquisition, Eyes New Markets

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WonderFi Technologies, a technology company providing access to financial services through decentralized finance, has completed its  acquisition 
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company’s shares to gain control of that company. Buying more than 50% of a target firm’s stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company’s shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company’s shares to gain control of that company. Buying more than 50% of a target firm’s stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company’s shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.
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of First Ledger Corp (FLC), the parent company of Bitbuy Technologies, the first approved crypto marketplace in Canada.

Bitbuy, which offers crypto trading services to beginners, advanced traders and corporations, was founded in 2016 and is currently one of Canada’s largest cryptocurrency platforms by trading volume.

As a result of the acquisition, Bitbuy’s over 400,000 registered users are now a part of the growing WonderFi ecosystem, bringing over $455 million of assets under custody as of December 31, 2021.

Bitbuy had recently emerged Canada’s first crypto trading platform to become regulated as a marketplace in addition to being registered as a restricted dealer in the country.

The combined company, with over 120 on staff, will be exclusively focused on introducing new features, offerings and functionality, creating Canada’s largest talent pool of crypto tech professionals, WonderFi said in its announcement of the completion of the deal.

Speaking on the completion of the acquisition, which was first announced in January, Ben Samaroo, the Chief Executive Officer of WonderFi, described the takeover as a “huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto.”

“A licensed marketplace serves as a crucial gateway to the digital asset economy, and facilitates a robust end-to-end, unified client experience,” Samaroo added.

Michael Arbus, the CEO of Bitbuy, said the integration of both companies will help to further strengthen Bitbuy’s competitive hedge. “The combination of Bitbuy, Canada’s largest approved crypto trading marketplace, and WonderFi’s decentralized product line-up creates an innovative experience for our Clients, and a globally competitive platform, positioned to enter new markets,” Arbus said.

On his part, Kevin O’Leary, a renowned investor, ambassador, and strategic advisor to WonderFi, said the acquisition means the integrated company can now provide an institutional-grade compliant crypto platform to investors interested in exposure to centralized and decentralized financial services.

What Does This Acquisition Mean?

According to the announcement, all of FLC’ issued and outstanding shares now belong to WonderFi.

WonderFi further explained: “The consideration paid to former shareholders of FLC consisted of 70 million newly issued common shares of WonderFi, most of which were subject to certain lock-up requirements, $20 million in upfront cash and $30 million in deferred cash via a vendor-take back note due in 12 months, which is subject to a working capital adjustment.

“A portion of the deferred cash was included in the upfront cash payment pursuant to the terms of the definitive agreement with respect to the acquisition.”

WonderFi also said it will issue 450,000 common shares to both FLC Corp and O’Leary Productions Limited for strategic growth,  merger 
Merger

A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers differ from acquisitions, where the buy absorbed all the assets and liabilities of another. A purchase does not necessarily have to be friendly. One business or venture could simply buy up enough shares of a corporation to control it without the consent of its previous controllers, whereas a merger is usually by understanding. A merger is usually a decision by two companies to combine all operations, officers, structure, and other functions of the business. Who Benefits from Mergers?Mergers are meant to be mutually beneficial for the parties involved. In the case of two publicly-traded companies, a merger usually involves one company giving shareholders in the other its stock in exchange for surrendering the stock of the first company. The acquiring company continues to function, and the acquired company ceases to exist. This does not mean that the brand disappears. An example is when Kmart Holdings and Sears merged in 2004. The two corporations announced the combining Sears and Kmart into a significant new retail company named Sears Holdings Corporation. Sears Holdings is the nation’s third-largest retailer, with approximately $55 billion in annual revenues and a national footprint of nearly 3,500 retail stores in the United States. Both Kmart and Sears stores continued to operate under their brand names and identities. Kmart and Sears shareholders each approved the combination.

A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers differ from acquisitions, where the buy absorbed all the assets and liabilities of another. A purchase does not necessarily have to be friendly. One business or venture could simply buy up enough shares of a corporation to control it without the consent of its previous controllers, whereas a merger is usually by understanding. A merger is usually a decision by two companies to combine all operations, officers, structure, and other functions of the business. Who Benefits from Mergers?Mergers are meant to be mutually beneficial for the parties involved. In the case of two publicly-traded companies, a merger usually involves one company giving shareholders in the other its stock in exchange for surrendering the stock of the first company. The acquiring company continues to function, and the acquired company ceases to exist. This does not mean that the brand disappears. An example is when Kmart Holdings and Sears merged in 2004. The two corporations announced the combining Sears and Kmart into a significant new retail company named Sears Holdings Corporation. Sears Holdings is the nation’s third-largest retailer, with approximately $55 billion in annual revenues and a national footprint of nearly 3,500 retail stores in the United States. Both Kmart and Sears stores continued to operate under their brand names and identities. Kmart and Sears shareholders each approved the combination.
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and acquisition, and capital market advisory services provided to it. It added that it will also issue 100,000 common shares to Nancy Cheung for public relations and media advisory services, through the period ending July 31, 2022.

WonderFi’s Recent Moves

In December last year, WonderFi announced that it agreed to acquire all of the issued and outstanding shares of Crypto APIs, a leading firm that provides crypto and blockchain market data and tools used by a wide variety of market players, including enterprises, wallets and exchanges, and institutional investors.

Samaroo had said the acquisition would help the company to “provide access to high-quality, comprehensive data in order to foster efficiency, transparency and growth in the sector, while directly integrating and supporting WonderFi’s own products.”

WonderFi Technologies, a technology company providing access to financial services through decentralized finance, has completed its  acquisition 
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company’s shares to gain control of that company. Buying more than 50% of a target firm’s stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company’s shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company’s shares to gain control of that company. Buying more than 50% of a target firm’s stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company’s shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.
Read this Term
of First Ledger Corp (FLC), the parent company of Bitbuy Technologies, the first approved crypto marketplace in Canada.

Bitbuy, which offers crypto trading services to beginners, advanced traders and corporations, was founded in 2016 and is currently one of Canada’s largest cryptocurrency platforms by trading volume.

As a result of the acquisition, Bitbuy’s over 400,000 registered users are now a part of the growing WonderFi ecosystem, bringing over $455 million of assets under custody as of December 31, 2021.

Bitbuy had recently emerged Canada’s first crypto trading platform to become regulated as a marketplace in addition to being registered as a restricted dealer in the country.

The combined company, with over 120 on staff, will be exclusively focused on introducing new features, offerings and functionality, creating Canada’s largest talent pool of crypto tech professionals, WonderFi said in its announcement of the completion of the deal.

Speaking on the completion of the acquisition, which was first announced in January, Ben Samaroo, the Chief Executive Officer of WonderFi, described the takeover as a “huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto.”

“A licensed marketplace serves as a crucial gateway to the digital asset economy, and facilitates a robust end-to-end, unified client experience,” Samaroo added.

Michael Arbus, the CEO of Bitbuy, said the integration of both companies will help to further strengthen Bitbuy’s competitive hedge. “The combination of Bitbuy, Canada’s largest approved crypto trading marketplace, and WonderFi’s decentralized product line-up creates an innovative experience for our Clients, and a globally competitive platform, positioned to enter new markets,” Arbus said.

On his part, Kevin O’Leary, a renowned investor, ambassador, and strategic advisor to WonderFi, said the acquisition means the integrated company can now provide an institutional-grade compliant crypto platform to investors interested in exposure to centralized and decentralized financial services.

What Does This Acquisition Mean?

According to the announcement, all of FLC’ issued and outstanding shares now belong to WonderFi.

WonderFi further explained: “The consideration paid to former shareholders of FLC consisted of 70 million newly issued common shares of WonderFi, most of which were subject to certain lock-up requirements, $20 million in upfront cash and $30 million in deferred cash via a vendor-take back note due in 12 months, which is subject to a working capital adjustment.

“A portion of the deferred cash was included in the upfront cash payment pursuant to the terms of the definitive agreement with respect to the acquisition.”

WonderFi also said it will issue 450,000 common shares to both FLC Corp and O’Leary Productions Limited for strategic growth,  merger 
Merger

A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers differ from acquisitions, where the buy absorbed all the assets and liabilities of another. A purchase does not necessarily have to be friendly. One business or venture could simply buy up enough shares of a corporation to control it without the consent of its previous controllers, whereas a merger is usually by understanding. A merger is usually a decision by two companies to combine all operations, officers, structure, and other functions of the business. Who Benefits from Mergers?Mergers are meant to be mutually beneficial for the parties involved. In the case of two publicly-traded companies, a merger usually involves one company giving shareholders in the other its stock in exchange for surrendering the stock of the first company. The acquiring company continues to function, and the acquired company ceases to exist. This does not mean that the brand disappears. An example is when Kmart Holdings and Sears merged in 2004. The two corporations announced the combining Sears and Kmart into a significant new retail company named Sears Holdings Corporation. Sears Holdings is the nation’s third-largest retailer, with approximately $55 billion in annual revenues and a national footprint of nearly 3,500 retail stores in the United States. Both Kmart and Sears stores continued to operate under their brand names and identities. Kmart and Sears shareholders each approved the combination.

A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers differ from acquisitions, where the buy absorbed all the assets and liabilities of another. A purchase does not necessarily have to be friendly. One business or venture could simply buy up enough shares of a corporation to control it without the consent of its previous controllers, whereas a merger is usually by understanding. A merger is usually a decision by two companies to combine all operations, officers, structure, and other functions of the business. Who Benefits from Mergers?Mergers are meant to be mutually beneficial for the parties involved. In the case of two publicly-traded companies, a merger usually involves one company giving shareholders in the other its stock in exchange for surrendering the stock of the first company. The acquiring company continues to function, and the acquired company ceases to exist. This does not mean that the brand disappears. An example is when Kmart Holdings and Sears merged in 2004. The two corporations announced the combining Sears and Kmart into a significant new retail company named Sears Holdings Corporation. Sears Holdings is the nation’s third-largest retailer, with approximately $55 billion in annual revenues and a national footprint of nearly 3,500 retail stores in the United States. Both Kmart and Sears stores continued to operate under their brand names and identities. Kmart and Sears shareholders each approved the combination.
Read this Term
and acquisition, and capital market advisory services provided to it. It added that it will also issue 100,000 common shares to Nancy Cheung for public relations and media advisory services, through the period ending July 31, 2022.

WonderFi’s Recent Moves

In December last year, WonderFi announced that it agreed to acquire all of the issued and outstanding shares of Crypto APIs, a leading firm that provides crypto and blockchain market data and tools used by a wide variety of market players, including enterprises, wallets and exchanges, and institutional investors.

Samaroo had said the acquisition would help the company to “provide access to high-quality, comprehensive data in order to foster efficiency, transparency and growth in the sector, while directly integrating and supporting WonderFi’s own products.”

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