Bitbuy Technologies Inc.

Canaccord Genuity Acts as Exclusive Financial Advisor to Bitbuy on its ~C$206 Million Sale to WonderFi Technologies

*This transaction officially closed in March 2022

Canaccord Genuity is pleased to announce that on January 4, 2022, its client First Ledger Corp., parent to Bitbuy Technologies Inc. (“Bitbuy” or the “Company”), announced that it had entered into a definitive agreement with WonderFi Technologies Inc. (“WonderFi”) whereby WonderFi will acquire Bitbuy (the “Transaction”) for approximately C$206 million in cash, stock, and deferred cash via a vendor-takeback note. The Transaction is expected to close in the first quarter of 2022.

Under the terms of the agreement, WonderFi will pay C$20 million in upfront cash at closing, C$30 million in deferred cash via a vendor-takeback note due in 12 months and will issue 70 million common shares of WonderFi to Bitbuy shareholders, subject to customary lockup provisions.

Bitbuy was founded in 2016 and has grown to become one of North America's leading crypto marketplaces. Today, Bitbuy is a trusted execution platform that services over 375,000 registered users, with more than C$4.4 billion transacted through the platform. In November 2021, Bitbuy became Canada's first approved crypto marketplace.

Canaccord Genuity acted as exclusive financial advisor to Bitbuy. The Canaccord Genuity team included Michael Kogan, Todd Radons, Daniel Li, and Matthias Eyford.