TORONTO, May 9, 2025 /CNW/ - 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 it has received approval to list its common shares (the "Common Shares") on the Nasdaq Capital Market ("Nasdaq"). Trading is expected to commence on Nasdaq under the symbol "DEFT" on May 12, 2025.
Upon commencement of trading on Nasdaq, the Company's Common Shares will cease to be quoted on the OTC Markets. DeFi Technologies will continue to trade on the CBOE Canada (CBOE CA: DEFI) and the Börse Frankfurt exchanges (GR: R9B) .
Olivier Roussy Newton, CEO of DeFi Technologies, commented,
"Securing our Nasdaq listing marks a significant milestone in our mission to bridge the gap between traditional finance and decentralized technologies. This uplisting is a reflection of the strong fundamentals and momentum behind our business. We believe it will enhance our visibility, improve liquidity, and provide broader access to our Company for institutional and retail investors who want exposure to the future of finance."
The Nasdaq listing does not involve any capital raising activity as DeFi Technologies maintains a strong financial position of C$61.9M (US$44.7M) in cash, USDT, and other digital asset treasury holdings as of April 30, 2025.
In conjunction with the listing, the Company has filed a Form 40-F Registration Statement with the United States Securities and Exchange Commission (the "SEC"). The SEC has declared the Registration Statement Effective.
Composition of Committees and Nasdaq Exemptions
The Company's current board of director committees (the "Committees") are as follows:
- Audit Committee - Stefan Hascoet (independent), Mikael Tandetnik (independent) and Suzanne Ennis (independent)
- Compensation, Nomination and Governance Committee - Stefan Hascoet (independent), Mikael Tandetnik (independent) and Olivier Roussy Newton (non-independent)
The Company has elected to follow applicable Canadian securities laws and rules of the Cboe Canada Exchange in lieu of the requirements of:
a. Nasdaq Listing Rule 5605(e)(1) (Independent Director Oversight of Director Nominations). The Company's Compensation, Nomination and Governance Committee (the "CNG
Committee") Charter (the "Charter") provides that the CNG Committee shall be composed of at least three directors as shall be designated by the Board from time-to-time, the majority of whom shall meet any independence requirements of Sections 1.4 and 1.5 of National Instrument 52-110 – Audit Committees ("NI 52-110") of the Canadian Securities Administrators;
b. Nasdaq Listing Rule 5605(d)(2) (Compensation Committee Composition). The Charter provides that the CNG Committee shall be composed of at least three directors as shall be designated by the Board from time-to-time, the majority of whom shall meet any independence requirements of Sections 1.4 and 1.5 of NI 52-110; and
c. Nasdaq Listing Rule 5620(c) (Quorum). The Company's bylaws provide that two persons present in person, each being a shareholder entitled to vote at the meeting or a duly appointed proxyholder for an absent shareholder entitled to vote at the meeting shall be a quorum at any meeting of the shareholders
The Company will be holding its 2025 Annual and Special Meeting of Shareholders on June 30, 2025 ("Meeting"). The Company anticipates reconstituting its Committees following the Meeting to meet the requirements of the rules of Nasdaq.
