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DeFi Technologies Inc. and Neuronomics AG have entered into a landmark Joint Venture Agreement to develop AI-based digital asset exchange traded products, actively managed certificates, and asset-backed tokens for global distribution.
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The crypto products promise a level of sophistication and efficiency previously unseen, leveraging Neuronomics’ advanced AI algorithmic trading strategies and DeFi Technologies’ expertise in listing and marketing on OTC markets or regulated stock exchanges.
DeFi Technologies, a technology company and the first and only publicly traded company that bridges the gap between traditional capital markets, Web3 and decentralized finance, are delighted to announce a Joint Venture Agreement (“JVA” or “JV”) to collaborate on the development of AI based exchange traded products, actively managed certificates, and asset-backed tokens for global distribution (the “Products”). The products will be powered by advanced AI algorithmic trading strategies, promising a level of sophistication and efficiency previously unseen.
Neuronomics AG is a Swiss-based company specializing in the development of advanced algorithmic trading strategies. Leveraging its deep expertise in financial markets and innovative technology, Neuronomics pioneers new avenues for investment opportunities leveraging AI and other advanced algorithmic technologies.
The JV will see Neuronomics primarily overseeing the Products’ management, strategy, and optimization of the investment thesis utilizing its algorithmic trading strategies. DeFi Technologies will list the Products on OTC markets or regulated stock exchanges, manage sales, pricing, marketing, and liaise with regulatory authorities on maintaining the listings. The range of planned Products includes exchange traded notes, exchange traded products, actively managed certificates, securities, decentralized finance protocols, and tokens.
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A Joint Steering Committee (“JSC”) will be formed, overseeing the JV’s implementation and management. The JSC will review and approve third-party services for product development, the issuance of the Products, and any other material matters related to the Products.
“Our partnership with Neuronomics propels us further in our mission to innovate and transform the financial landscape,” said Olivier Roussy Newton, Chief Executive Officer of DeFi Technolgies. “By integrating Neuronomics’ superior algorithmic trading strategies into our product development, we can truly push the boundaries of decentralized finance and traditional capital markets, thereby creating a new wave of cutting-edge financial products.”
To further align the interests of DeFi and Neuronomics, DeFi has entered into share exchange agreements with Olivier Roussy Newton, Chief Executive Officer of the DeFi and Johan Wattenstrom, Director of Valour Inc., a subsidiary of DeFi (together, the “Share Exchange Agreements”), pursuant to which DeFi will acquire from each of Mr. Newton and Mr. Wattenstrom 362 shares of Neuronomics with nominal value of CHF 1.- for a total of 724 shares of Neuronomics (the “Purchased Shares”).
Under the terms set out in the Share Exchange Agreements, DeFi shall issue 402,806 common shares of DeFi from treasury (together, the “Payment Shares”) to each of Mr. Newton and Mr. Wattenstrom for the Purchased Shares. The Payment Shares shall be issued at a deemed value of $0.12 per Payment Share, representing the same cost-basis paid by Mr. Newton and Mr. Wattenstrom for the Purchased Shares.
The completion of the transactions under the Share Exchange Agreements to acquire the Purchased Shares (the “Acquisition”) is subject to customary closing conditions. No finder fees are payable in connection with, and no change of control of the Company will result from the Acquisition. The Acquisition is subject to regulatory approval, including the acceptance of Cboe Canada. The Payment Shares issued in connection with the Acquisition will be subject to a statutory hold period of four-months and one day.
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