TORONTO – DeFi Technologies Inc. (NEO: DEFI) (GR: RMJR) (OTC: DEFTF) announced that it has entered into a letter of intent to acquire 100% of the issued and outstanding securities in the capital of DeFi Yield Technologies Inc.
DeFi Yield is a private company with a proprietary automated yield engine which makes investing in decentralised finance simple and efficient. By leveraging different DeFi protocols and strategies to increase diversification, their solution maximizes yield while minimizing exposure to risk.
The LOI contemplates that DeFi Technologies and DeFi Yield will promptly negotiate and enter into a definitive agreement, together with such other documents that may be required in order to formalize and execute the terms of the Acquisition as outlined in the LOI.
Diana Biggs, CEO of DeFi Technologies’s wholly owned subsidiary Valour Inc. stated, “DeFi Yield brings a wealth of experience across wealth management and decentralised finance, and we see fantastic synergies. We are thrilled to combine our collective solutions to provide investors with simple and secure access to exposure to best-in-class opportunities within the high-growth space of decentralised finance.”
Wouter Witvoet, DeFi Technologies Chief Executive Officer stated, “It’s a fantastic development for DeFi Technologies to acquire DeFi Yield Technologies. Their smart contract development, Defi yield vaults and meta vaults are an excellent addition to the growing product base that we offer. Next to our Valour ETNs, which tap into the public markets to give exposure to decentralised finance, we now also tap into the 1.7 trillion dollars that has gone into a wide range of cryptocurrencies. We are excited to build out these products together with Philipp and the team.”
Dr. Philipp Kallerhoff, CEO of DeFi Yield Technologies Inc. stated, “We are extremely excited to be joining forces with the DeFi Technologies team. We believe that together we will be a global leader in the rapidly growing decentralized finance space. We are looking forward to leveraging DeFi Technologies’ existing business and product offerings to accelerate the growth of our smart contracts and our other products. We believe that this merger expedites our common business objectives, among them being to provide wider access and additional on-ramps to simple, secure, risk-adjusted decentralized finance products.”
Defi Yield is a private company with a proprietary automated yield engine which makes investing in decentralized finance simple and efficient. By leveraging different DeFi protocols and strategies to increase diversification, their solution maximizes yield while minimizing exposure to risk.
DeFi Technologies Inc. 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.
We seek Safe Harbor.