Wellfield Technologies Inc (TSE:WFLD) has released an update.
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Wellfield Technologies Inc. is set to resume trading on the TSX Venture Exchange and is progressing with the spin-off of its subsidiary, Tradewind Markets Inc., aimed at enhancing shareholder value. The spin-off aligns with Wellfield’s strategy to focus on its core businesses in crypto and decentralized finance, leveraging its Coinmama brand and proprietary blockchain technology. Wellfield anticipates the spin-off will allow Tradewind to grow independently, with its own management, and provide Wellfield with $20M in Tradewind stock to bolster its financial position or fuel growth.
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