TORONTO–(business wire) — Ether Capital Corporation (“Ether Capital” or “we”) wishes to disclose to the market information about a non-core portfolio company, Wyre, Inc. (“Wyre”).
US-based cryptocurrency infrastructure provider Wyre has run into financial headwinds following the collapse of cryptocurrency exchange FTX and the failed acquisition by Bolt, which ended in September 2022. As a result, Wyre said through his January 6, 2022 release that the business environment is deteriorating and he is considering strategic alternatives. These strategic choices may affect Wire’s shareholders.
As Wyre is a non-core investment, this news will not have a material impact on Ether Capital. Ether Capital said in 2018 he invested US$1.5 million (approximately C$2 million) in Wyre. As of September 30, 2022, the fair market value of Ether Capital’s investment in Wyre was C$2.03 million, representing his 2.2% of Ether Capital’s total. Assets ($0.06 per share).
Ether Capital anticipates that its initial investment in Wyre may be written down completely, but will make a final decision as more information becomes available.
About Ether Capital
Ether Capital (NEO: ETHC) is a public technology company with a long-term goal of becoming the central business and investment hub of the Ethereum ecosystem. The company has invested most of its balance sheet in Ethereum’s native utility token, Ether, as a core strategic asset and yield generator. Our company focuses on the financial infrastructure that supports the Ethereum he blockchain and provides enterprise value. Ether Capital’s management team and board of directors, made up of crypto natives, leading venture capitalists, and traditional finance experts, are uniquely positioned to identify and capitalize on opportunities in the digital asset ecosystem. is in For more information, please visit http://ethcap.co.
The contents of this document are for informational purposes only and are not offered in connection with an offering of any securities described herein, nor are they a recommendation or solicitation to buy or sell any securities. This information is not investment advice and is not tailored to the needs or circumstances of any investor. The information contained in this document is not an offering memorandum, prospectus, advertisement or public offering of securities. This document has not been confirmed by the Securities Commission or similar regulatory agency and any representation to the contrary is a violation. The information in this press release is current only as of the date provided and Ether Capital undertakes no obligation to update this information except in accordance with applicable securities laws.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the expected impact that our investment in Wyre will have on us. We caution readers not to place undue reliance on such forward-looking statements. These statements speak only as of the date they were made. Usually, but not always, forward-looking information includes forward-looking statements such as “planned”, “expect” or “not expected”, “anticipated”, “budget”, It can be identified using perspective terms. “estimate”, “predict”, “intend”, “pace with”, “predict” or “do not predict”, “believe” and similar expressions or any specific action, event or outcome “could”, “says “could”, “would”, “should”, “may”, or “would” is adopted, occurs or achieved be done.
Forward-looking statements are based on information available to management at the time they were made, management’s current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and our actual results, level of activity, performance or achievements that may not be expressed or implied by such forward-looking information. Subject to other factors that may vary. Such risks and uncertainties include assumptions and judgments related to estimating the fair value of our investment in Wyre and other risk factors described in the Company’s Annual Information Form dated March 23, 2022. including but not limited to.Submit management’s discussion and analysis, its Supplements and the Risk Factors Section of the Basic Shelf Prospectus and other filings available online at www.sedar.com. Although the forward-looking information contained in this press release is based on assumptions that the Company believed to be reasonable at the time such statements were made, actual results may prove that the forward-looking information is accurate. There is no guarantee that it will prove Future events may differ materially from those anticipated in such forward-looking information. Further, we caution the reader that the information provided in this press release is provided to illustrate the nature of some of our future plans and may not be suitable for other purposes. We caution you, therefore, that readers should not place undue reliance on forward-looking information. We do not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.