DeFi Technologies Inc. (OTCMKTS:DEFTF) Stock Rockets 90% in a Week After The News
Based in Canada, DeFi Technologies Inc. (OTCMKTS:DEFTF), a company which provides financial services andcarrying on business with the objective of enhancing shareholder value through building and managing assets in the decentralized finance sector, has recently entered into a letter of intent (the “LOI”) “for the cent percent acquisition of the issued and outstanding securities in the capital of DeFi Yield Technologies Inc.
Through this Letter of Intent(“LOI), it is anticipated that both the companies would negotiate and enter into a definitive agreement (“Definitive Agreement”), together with such other documents that may be required in order to formalize and execute the terms of the Acquisition as outlined in the LOI.
On the other hand, DeFi Yield is a private company with a forte in patented mechanized yield engine which makes investing in decentralised finance simple and efficient. The company primarily focuses on using various of its protocols and policies so as to surge the diversification, thereby maximizing the yield while minimizing exposure to risk.
Excited and elated on the venture the CEO of DeFi Yield Technologies Inc. Dr. Philipp Kallerhoff stated, “We are extremely excited to be joining forces with the DeFi Technologies team. We believe that together we will be a global leader in the rapidly growing decentralized finance space. We are looking forward to leveraging DeFi Technologies’ existing business and product offerings to accelerate the growth of our smart contracts and our other products. We believe that this merger expedites our common business objectives, among them being to provide wider access and additional on-ramps to simple, secure, risk-adjusted decentralized finance products.”
However, what is crucial to the completion of the DeFi Yield Acquisition is the receipt of all the quintessential sanctions which includes negotiation and execution of a Definitive Agreement, shareholder and board approval of each of DeFi Yield and the Company, as necessary, completion of due diligence and the satisfaction of all conditions (unless waived in writing) to be set out in the Definitive Agreement. What is important to note is that this acquisition will help DeFi Technologies gain ownership over DeFi Yield in context of the operating business, all intellectual property, and brand of DeFi Yield.
DEFTF stock soared 32% on Monday.
