TORONTO, May 7, 2024 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or " DeFi Technologies") (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (" DeFi "), is pleased to announce that its subsidiary Valour Inc. ("Valour"), a leading issuer of exchange traded products ("ETPs") that provide simplified access to digital assets, has successfully repaid US$19.5 million in outstanding loans (the "Loans"). As of April 30, 2024, and due to favourable business conditions, Valour has fully repaid balances of US$6 million and US$13.5 million, which were secured by BTC and ETH collateral, respectively. No further equity or debt was raised to repay the Loan.
The Loans, which were structured with "open term" tenures allowing for flexible repayment, were fully repaid on April 30, 2024. This strategic financial management will result in substantial savings for Valour, eliminating monthly interest expense of approximately US$226,000, or US$2,712,000 annually.
Furthermore, the repayment of the Loans released digital asset collateral back into Valour's operational fold (approximately 100 BTC and 5,000 ETH). These digital assets, previously tied up as collateral, are now available to be staked and generate additional top-line revenue for Valour.
This development is a testament to Valour's financial health and prudent capital management. By freeing up additional digital assets and reducing financial liabilities, Valour has continued its commitment to leveraging its financial agility to enhance its market position and capitalize on emerging opportunities within the digital assets space.
About DeFi Technologies
CBOE CA: DEFI ) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem. Join DeFi Technologies' digital community on Linkedin and Twitter, and for more details, visit https:// defi.tech/
About Valour
CBOE CA: DEFI ) (GR: R9B) (OTC: DEFTF).
In addition to their novel physical backed digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP, 1Valour Ethereum Physical Staking, and 1Valour Internet Computer Physical Staking, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour's existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple ( XRP ), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN), Valour Digital Asset Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour's flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum ( ETH ) as underlyings which are completely fee free.
For more information, to subscribe, or to receive company updates and financial information, visit valour.com.
Cautionary note regarding forward-looking information:
SOURCE DeFi Technologies Inc.
