Toronto, Ontario--(Newsfile Corp. - May 9, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) has made significant strides in solidifying its position as a frontrunner in the decentralized finance landscape. Leveraging strategic collaborations and our technological innovations, Wellfield is actively shaping the future of digital finance. Now that many regulatory obstacles are being resolved, we will accelerate our go-to-market and traffic building efforts, benefiting the industry as a whole. To put this in context, the following clarifies our positioning and value proposition:

• DeFi Strategy and Positioning: Wellfield positions Coinmama as the premier platform to access best in class DeFi services. The recent launch of decentralized trading on Coinmama.com represents a milestone in its strategic roadmap. With a user base exceeding 3.5 million registered users and growing, Coinmama offers a trusted platform for accessing the largest decentralized exchange venues across Ethereum, thereby simplifying the DeFi experience for mainstream users.

• Advancements in Our Innovative Protocols: Wellfield's pioneering efforts include two flagship protocols: LiquiFy and Bitcoin-DeFi. The patent application on Bitcoin-DeFi underscores our commitment to enabling decentralized finance solutions connected to Bitcoin, particularly as Bitcoin gains recognition as an asset class. Bridging the gap between Bitcoin's foundational strengths and the dynamic world of DeFi is essential to our mission. LiquiFy, another groundbreaking protocol, facilitates optimized liquidity utilization and creation, catering to diverse investor profiles. Both protocols exemplify Wellfield's unwavering commitment to innovation.

• Partnerships with Innovation: Wellfield Technologies Inc. leverages Fireblocks' renowned platform for securely managing digital assets to enhance its offerings globally. Wellfield's initiatives, such as Coinmama's self-custody wallet leveraging Fireblocks technology, and innovative DeFi protocols adapted to the Optimism Layer 2 solution, exemplify its dedication to scalability and improved user experience.

Overall, Wellfield Technologies Inc. is enhancing its unique DeFi services through Coinmama's web and mobile platforms, driving innovation, accessibility, and security in the DeFi space, empowering its users.

About Wellfield Technologies

Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions that leverage blockchain technology for consumers and institutions. Our retail platform Coinmama provides seamless access to the cryptocurrency market for over 3.8 million registered users across 180 countries, including friendly self-custody solutions and disruptive DeFi services. Wellfield operates Tradewind Markets as a real-world-asset tokenization platform with our flagship VaultChain Gold and VaultChain Silver, backed by physical metal custodied with the Royal Canadian Mint. Expanding our offerings for institutional clients, we acquired Brane Trust and are working towards regulatory approval to operate as Canada's second qualified digital asset custodian.

Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io.

For further information contact:

Wellfield Technologies Inc.
Levy Cohen, CEO
levyc@wellfield.io
(832) 483-2575

Ryan Graybill, Investor Relations
ryan.graybill@wellfield.io

Cautionary Notice on Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Debt Settlement, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. 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. Forward-looking statements in this news release include statements regarding: anticipated benefits from developments on the Bitcoin blockchain; future product launches; the Company's ability to monetize its technology and acquisitions; the anticipated strategic, operational and competitive benefits of recent business developments, which are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. 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. These risks and uncertainties include, but are not limited to: the ability of the Company to raise additional capital to fund future operations; compliance with extensive government regulations, domestic and foreign laws and regulations adversely affecting the Company and 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 disclosure documents accessible on the Company's SEDAR+ profile at . 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.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.