TORONTO, Nov. 22, 2022 /CNW/ - CoinSmart Financial Inc. ("CoinSmart" or "CFI") (NEO: SMRT); (FSE: IIR), a leading Canadian headquartered crypto asset trading platform, announces that 99.17% of common shares represented by proxy at its Special Meeting of Shareholders (the "Meeting") held on November 22, 2022, were voted in favour of the Sale Resolution (as defined below).

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A total of 32,632,700 common shares, or 54.17% of the issued and outstanding common shares of CoinSmart, were represented by proxy at the Meeting. Of that total, 32,361,976 were voted FOR the Sale Resolution and 270,724 were voted AGAINST.

The sole matter submitted to CoinSmart shareholders of record as of October 21, 2022, as set out in the Company's Notice of Meeting and Management Information Circular dated October 24, 2022, at the Meeting was to consider and approve the sale of all of the issued and outstanding shares of Simply Digital Technologies Inc., being CoinSmart's wholly-owned operating subsidiary, such sale constituting the sale of all or substantially all of the undertaking of CoinSmart in accordance with the Business Corporations Act (British Columbia), as contemplated by the Share Purchase Agreement dated September 22, 2022 entered into between CoinSmart and Coinsquare Ltd (the "Sale Resolution").  Copies of the Notice of Meeting and Management Information Circular and of the Share Purchase Agreement are available on SEDAR at www.sedar.com.  The transaction contemplated by the Sale Resolution is expected to close on or around November 30, 2022, subject to, among others, required regulatory approvals.

About CoinSmart Financial Inc.
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.

CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled 24/7 omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client's needs are met with the highest level of quality and care. For more information please visit https://www.coinsmart.com/. 

Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, CoinSmart has made certain assumptions. Although CoinSmart believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, CoinSmart disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

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SOURCE CoinSmart

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