Wellfield Technologies Inc. Announces Failure to File Cease Trade Order

Toronto, Ontario--(Newsfile Corp. - September 10, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) (OTCQB: WFLDF) (FSE: K8D) ("Wellfield") announces that the British Columbia Securities Commission (the "BCSC") as the principal regulator of the Company issued a failure-to-file case trade order (the "FFCTO") to the Company under Multilateral Instrument 11-103 - Failure-To-File Cease Trade Orders In Multiple Jurisdictions, prohibiting the trading in or the purchasing of any securities of the Company by any person or company in Canada, including trades in the Company's common shares made through the TSX Venture Exchange (the "TSXV"), except in accordance with the following conditions, for so long as the FFCTO order remains in effect:

a beneficial securityholder of the Company who is not, and was not at the date of the FFCTO an insider or control person of the Company, may sell securities of the Company acquired before the date of September 6, 2024 if both of the following apply: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

The FFCTO was issued as a result of the delay in the filing of the Company's interim unaudited financial statements for the three-month period ended June 30, 2024 and 2023, the related management's discussion and analysis for the three-month period ended June 30, 2024 and 2023, and related filings (the "Required Filings"). Under National Instrument 51-102 - Continuous Disclosure Obligations, the Required Filings were required to be made no later than August 29, 2024.

The delay in filing was due to unforeseen extenuating circumstances resulting in resourcing challenges within the Company.

The Company has since filed its Required Filings, which can be found on Wellfield's SEDAR+ profile at www.sedarplus.ca. As such, on September 9, 2024, the BCSC issued an order revoking such FFCTO.

Management is actively engaging with the TSX Venture Exchange and relevant regulators to facilitate the reinstatement of trading in the Company's common shares on the TSXV and will provide updates as further information becomes available.

About Wellfield Technologies

Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions leveraging blockchain technology. Our platform Coinmama (web and Mobile app), provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. Additionally, Wellfield operates Tradewind Markets platform to digitize and trade real-world assets, including our flagship VaultChain™ Gold and VaultChain™ Silver products. Expanding our offerings for institutional clients, we present Brane Trust aiming to operate Alberta Canada's second qualified digital asset custodian.