Wellfield Technologies Inc. Advancing Its Tokenized Gold Initiative - Announcing Yield on Gold

February 01, 2024 7:30 AM EST | Source: Wellfield Technologies Inc.

  • Wellfield previously announced the upcoming launch of its tokenized gold ecosystem, leveraging its recent acquisitions of Brane Trust and Tradewind Markets.

  • Wellfield aims to transform gold - one of the world's most enduring and recognized assets - into a financial product on Ethereum.

  • Combining tokenized gold with its proprietary decentralized financial services, Wellfield will offer a unique and undeniable investment - principal protected yield on gold - made accessible for blockchain native and traditional investors.

Toronto, Ontario--(Newsfile Corp. - February 1, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) (FSE: K8D) (the "Company" or "Wellfield"), following the press release of its tokenized gold initiative, is thrilled to unveil a unique offering in its Ethereum-based gold ecosystem - principal protected yield on gold. This innovative financial product is made possible by the Company's proprietary decentralized financial services and is designed to attract a broad range of investors, appealing even to those who have traditionally shied away from gold due to its lack of cash flow and associated holding costs. The introduction of safe and secure yield on gold marks a significant shift in the gold investment paradigm, led by Wellfield Technologies.

The Company intends to capitalize on the unique opportunity to capture market awareness and promote its innovative offerings, starting with tokenized gold and soon after principal protected yield. Wellfield has acquired the domain yieldongold.com to aid in its future marketing strategies and promote the Company's commitment to blend trust with innovation to create new and undeniable investment solutions for gold and cryptocurrency investors.

To learn more and stay connected, please visit yieldongold.com.

Management Commentary

"Through the strategic acquisitions of Tradewind Markets and Brane Trust, coupled with our innovative decentralized technologies, Wellfield is poised to introduce a groundbreaking investment offering - yield on gold," stated Levy Cohen, CEO of Wellfield. "This unique opportunity, blending principal protected yield with gold's enduring value, stands as an undeniable investment proposition that Wellfield is proud to be a pioneer. We recognize the pivotal role of marketing in capitalizing on this opportunity. As we approach the launch of our tokenized gold offering later this quarter and yield on gold solutions soon following, we will look to maximize our reach, both through industry partnerships and by leveraging assets like our newly acquired domain, yieldongold.com, as a tool to spearhead our direct marketing initiatives."

About Wellfield Technologies

Wellfield is an R&D focused Fintech company that operates on public blockchains including Bitcoin and Ethereum. The Company operates a regulated platform that onboards customers globally at scale, leveraging its proprietary decentralized technology to offer highly disruptive on-chain self-custody solutions. Wellfield leverages these assets to operate two business lines: Coinmama (for consumers) with over 3.5 million registered users globally and Wellfield Capital for institutional and professional investors. Additionally, Wellfield has recently expanded the scope and monetization potential of its technology by acquiring Brane Trust Company Limited, aiming to establish and operate Canada's second qualified digital asset custodian in the province of Alberta, and Tradewind Markets, Inc. Tradewind Markets digitizes real world assets, starting with its flagship VaultChain™ Gold and VaultChain™ Silver products, which offer blockchain-based digital ownership of deliverable precious metals held in custody by the Royal Canadian Mint.

For further information contact:

Wellfield Technologies Inc.

Levy Cohen, CEO
(832) 483-2575

Ryan Graybill, Investor Relations

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 gold and gold with yield products and blockchain protocols and other technologies and utilities discussed herein, the integration, expansion and continued revenue generation of Tradewind and Brane Trust, and the anticipated strategic, operational and competitive benefits of the Acquisitions. 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 anticipated launch of products may not be realized as intended or at all; the strategic, operational and competitive benefits of the Acquisition may not be realized; the impact of COVID-19; the decentralized finance industry generally, in Canada and abroad; and general regulatory, business, economic, competitive, political and social uncertainties. Readers are cautioned that the foregoing list is not exhaustive, and readers are encouraged to review the disclosure documents accessible on the Company's SEDAR profile at www.sedarplus.ca. 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196486