Wellfield Provides Corporate Update

Rhea-AI Summary

Wellfield Technologies (TSXV: WFLD) (OTCQB: WFLDF) announced the departure of Chief Financial Officer Brian Lock effective January 24, 2025. Lock is leaving to pursue other career opportunities after serving since the company's inception. The board has initiated a search for a successor CFO. In the interim, Wellfield will rely on its existing finance team and advisors to maintain financial management continuity during the transition period. The company will provide updates on the CFO appointment process as they become available.

Positive

• None.

Negative

• Unexpected departure of CFO Brian Lock creates leadership gap
• Potential disruption in financial management during transition period

Toronto, Ontario--(Newsfile Corp. - January 27, 2025) - Wellfield Technologies Inc. (TSXV: WFLD) (OTCQB: WFLDF) (FSE: K8D) (the "Company" or "Wellfield") announced today the departure of its Chief Financial Officer Brian Lock effective January 24, 2025, to pursue other career opportunities. The board of directors thanks Brian for his valuable contributions to the Company since its inception and wishes Brian success in his future endeavors, and have accepted his resignation.

The Company has initiated a search for a successor Chief Financial Officer. In the interim, the Company will rely on its experienced finance team and advisors to ensure continuity in financial management during the transition and until a new Chief Financial Officer is appointed. Further updates will be provided as they become available.

On behalf of the Board of Directors,
Levy Cohen, Chief Executive Officer

About Wellfield Technologies

Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions leveraging blockchain technology. Our platform Coinmama, provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. We offer disruptive on-chain and web3 secure and friendly self-custody solutions through Coinmama. Additionally, Wellfield operates Tradewind Markets platform to digitize and trade real-world assets, including our flagship VaultChain™ Gold and VaultChain™ Silver products.

Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io

For further information contact:

Wellfield Technologies Inc.
Levy Cohen, CEO
levyc@wellfield.io
(832) 483-2575

Ryan Graybill, Investor Relations
ryan.graybill@wellfield.io

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has approved nor disapproved the contents of this news release, nor do they accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238645

FAQ

When did Wellfield Technologies CFO Brian Lock resign?

Brian Lock resigned as CFO of Wellfield Technologies (WFLDF) effective January 24, 2025.

How is Wellfield Technologies managing financial operations after CFO departure?

Wellfield Technologies is relying on its existing finance team and advisors to ensure continuity in financial management until a new CFO is appointed.

What is Wellfield Technologies' plan to replace their CFO?

Wellfield Technologies has initiated a search for a successor Chief Financial Officer and will provide updates as they become available.

How long did Brian Lock serve as CFO at Wellfield Technologies (WFLDF)?

Brian Lock served as CFO since Wellfield Technologies' inception until January 24, 2025.