Wellfield To Acquire Coinmama - Trusted Brand, Over Us$130M In Annual Sales, More Than 3.5M Registered Users And Established Global Infrastructure - Enables Rapid Launch Of Defi Services At Scale

Wellfield Technologies, Inc. (TSXV: WFLD) (FRANKFURT: K8D) (the "Company" or "Wellfield"), is pleased to announce that it has signed a definitive agreement (the "Definitive Agreement"), dated March 24, 2022, to acquire New Bit Ventures Ltd., d/b/a Coinmama ("Coinmama") (the "Transaction"). Founded in 2013, Israel-based Coinmama has achieved outstanding growth with sales of US$130 million in 2021 by building a global platform for millions of buyers and sellers of digital currencies using everyday payment methods. Coinmama currently has more than 3.5 million registered users, each of which has undergone regulatory verification and transacted on the platform.