Mogo adds Bitcoin to its Treasury Management Strategy
2024年3月7日 - 10:37PM
ビジネスワイヤ(英語)
Board Approves an investment up to $5
million
Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a
digital wealth and payments business, today announced that its
Board of Directors has approved a change to its treasury management
strategy to include Bitcoin and Bitcoin ETFs and authorized an
initial investment of up to $5.0 million.
“Mogo was an early entrant to crypto investing in North America
having first invested in Bitcoin in 2020, and we continue to
believe in the long-term investment opportunity for Bitcoin,” said
Greg Feller, President of Mogo Inc. “The recent regulatory approval
of spot Bitcoin ETFs, along with the commitment of several of the
world’s largest asset managers such as Fidelity and BlackRock,
support our view that Bitcoin is a legitimate global asset class
with attractive qualities that make it a unique store of value.
Today’s announcement, along with Mogo’s ~13% ownership in WonderFi,
provide our shareholders with meaningful exposure to this asset
class.”
For the third quarter ended September 30, 2023, Mogo reported
cash and total investments of $43.7 million. This included combined
cash and restricted cash of $19.3 million and investment portfolio
of $24.5 million. Mogo’s assets also include 87 million common
shares (approximately 13% of the shares outstanding) of WonderFi
Technologies Inc. (TSX: WNDR), one of the largest regulated crypto
investing ecosystems in Canada.
About Mogo
Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is a digital wealth and
payments company headquartered in Vancouver, Canada with more than
2 million members, $9.9B in annual payments volume and a ~13%
equity stake in Canada’s leading Crypto Exchange WonderFi
(TSX:WNDR). Mogo offers simple digital solutions to help its
members dramatically improve their path to wealth-creation and
financial freedom. MOGO offers commission-free stock trading that
helps users thoughtfully invest based on a Warren Buffett approach
to long-term investing – while also making a positive impact with
every investment. Moka offers Canadians a real alternative to
mutual funds and wealth managers that overcharge and underperform
with a fully managed investing solution based on the proven
outperformance of an S&P 500 strategy, and at a fraction of the
cost. Through its wholly owned digital payments subsidiary, Carta
Worldwide, Mogo also offers a low-cost payments platform that
powers next-generation card programs for companies across Europe
and Canada. The Company, which was founded in 2003, has
approximately 200 employees across its offices in Vancouver,
Toronto, London & Casablanca.
Forward-Looking Statements
This news release may contain “forward-looking statements”
within the meaning of applicable securities legislation, including
statements regarding the Company’s investment in Bitcoin or Bitcoin
ETFs and general treasury management strategy. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management at the
time of preparation, are inherently subject to significant
business, economic and competitive uncertainties and contingencies,
and may prove to be incorrect. Forward-looking statements are
typically identified by words such as "may", "will", "could",
"would", "anticipate", "believe", "expect", "intend", "potential",
"estimate", "budget", "scheduled", "plans", "planned", "forecasts",
"goals" and similar expressions. Forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause actual financial results, performance or achievements to be
materially different from the estimated future results, performance
or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. Mogo’s growth, its ability to expand into new
products and markets and its expectations for its future financial
performance are subject to a number of conditions, many of which
are outside of Mogo’s control. For a description of the risks
associated with Mogo’s business please refer to the “Risk Factors”
section of Mogo’s current annual information form, which is
available at www.sedarplus.com and www.sec.gov. Except as required
by law, Mogo disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240307907424/en/
US Investor Relations Contact Lytham Partners, LLC Ben Shamsian
New York | Phoenix shamsian@lythampartners.com (646) 829-9701 Craig
Armitage Investor Relations investors@mogo.ca (416) 347-8954
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