- The Company has deepened its partnership with Exaud, a
respected software development and technical consultancy based in
Portugal, to assist in building
out a development hub to empower the existing Seamless teams.
- With the current suite of Seamless products pending launch,
this new hub will secure high demand development talent and is
expected to shorten time to market for the next stage of Wellfield
services.
TORONTO, Jan. 19, 2022 /CNW/ - Wellfield Technologies
Inc. (TSXV: WFLD) (FRANKFURT: K8D) (the "Company" or
"Wellfield"), is pleased to announce that it has partnered
with Exaud, LDA to establish a development hub in Portugal, with a mandate to supporting the
Seamless development pipeline. Headquartered in Greater Porto, with an additional office in
Amsterdam, the Netherlands, and a
representative office in Düsseldorf, Germany, Exaud is a global software solution
provider, across various industries such as Automotive &
Manufacturing, Fintech & Financial Services, Software &
Hi-Tech, Media & Digital Education and Retail &
Logistics.
As previously announced, the Company is in the process of
furthering solutions under the Seamless brand, to address necessary
needs of the DeFi ecosystem. This includes services such as: making
Bitcoin compatible with DeFi; cross blockchain trading; and
decentralized prime broker-like services. Beyond this near-term
pipeline of opportunities, Wellfield has identified several other
areas of importance that are necessary for DeFi powered apps like
MoneyClip, a subsidiary of Wellfield, and to strengthen the
Seamless ecosystem and suite of solutions. Once established, the
Company's development hub will take part in
developing products that the research group architects
and prototypes to address these opportunities.
Management Commentary
Levy Cohen, CEO of Wellfield commented, "It is our
firm belief that DeFi will reinvent global finance. Scaling our
commercialization efforts through an additional development
hub will ensure that Wellfield remains at the forefront of the
evolution of the DeFi ecosystem, building on the
scheduled 2022 launches of several solutions under our
Seamless protocol-layer brand. To this point, our team has been
focused on developing the capabilities within Seamless to address
some of DeFi's biggest technical challenges, but solutions to these
immediate challenges are just the beginning. Securing additional
high demand developer talent gives the Company the additional
depth required to continue building the ecosystem around Seamless
and powering the financial applications of the future with our
critical infrastructure. We are fortunate to benefit from the
experience and expertise of Exaud, our partners in Portugal."
About Wellfield Technologies
Wellfield is focused on unlocking the power of decentralized
finance (DeFi) by building open and accessible decentralized
protocols and also blockchain based consumer products. Seamless -
the Company's protocol layer brand - focuses on solutions that
enhance and optimize liquidity in the Ethereum ecosystem, make
Bitcoin compatible with DeFi, and enable decentralized cross
blockchain exchange. MoneyClip - Wellfield's application layer
brand - is powered by DeFi to enhance everyday financial products
and make money work for the way people live.
About Exaud
Exaud is an established European software development and
technical consultancy company providing custom software solutions.
Exaud has been in business for 10+ years and has a rich heritage of
creating innovative software products and providing development
services to Fortune 500 companies, large enterprises, and
medium-sized firms. Exaud is a global solution provider specialised
in different sectors, such as Automotive & Manufacturing,
Fintech & Financial Services, Healthcare & Life Sciences,
Software & Hi-Tech, Media & Digital Education and Retail
& Logistics. For more information, please
visit www.exaud.com.
Cautionary Notice
A listing application prepared in accordance with the
policies of the TSXV (the "Listing Application") is available on
the Company's SEDAR profile, available
at www.sedar.com, and contains additional
information regarding Wellfield. The contents of this press release
are expressly qualified by the disclosures and contents of the
Listing Application and readers are encouraged to review the
Listing Application. Investors are cautioned that, except as
disclosed in the Listing Application, any information released or
received with respect to the Wellfield may not be accurate or
complete and should not be relied upon. Trading in the securities
of Wellfield should be considered highly speculative.
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.
This news release does not constitute an offer to sell, or
a solicitation of an offer to buy, any securities in the United States. Wellfield's securities have
not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
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 the protocols and other technologies and utilities
discussed herein. 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
impact of COVID-19; 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 Listing
Application accessible on the Company's SEDAR profile
at www.sedar.com. 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.
SOURCE Wellfield Technologies