representative work

WonderFi Acquires Bitbuy, Canada’s First Approved Crypto Market Place, for $206 Million


On March 25, 2022, WonderFi Technologies Inc. acquired First Ledger Corp., the parent company of Bitbuy Technologies Inc., a leading cryptocurrency platform and the first approved crypto marketplace in Canada. The acquisition and integration establish WonderFi as a leading end-to-end consumer platform for people seeking access to crypto and decentralized finance.

Pursuant to the arrangement, WonderFi acquired all of the issued and outstanding shares of First Ledger. The consideration paid to former shareholders of First Ledger consisted of 70 million newly issued common shares of WonderFi, subject to certain lock-up requirements, $20 million in upfront cash and $30 million in deferred cash via a vendor-takeback note due in 12 months, for an aggregate transaction value of approximately $206 million.

Cassels acted for WonderFi.