$DEFI (DeFi Technologies) just announced AGM voting results. For those who don't know, AGM is an Annual General and Special Meeting with shareholders. All the things that were voted on were unanimous.
- 99%+ in favour of the approval of the company's stock option plan, DSU Plan, reproducing of specific stock options, and the appointment of RSM Canada LLP to continue their work as the auditor.
- Also, the nominees for the board of directors were elected with 99%+ votes in favour of each member.
Now, the transaction update.
“Further to the press release of the Company dated August 9, 2021, the Company announces that it will not be proceeding with the proposed acquisition of DeFi Yield Technologies Inc. ("DYT") at this time. Additionally, further to the press release of the Company dated August 12, 2021, the Company also announces that it will not be proceeding with the proposed acquisition of Protos Asset Management GmbH ("Protos").”
To sum it up, both transactions are cancelled. IMO, this could be beneficial for $DEFI since the price of cryptocurrencies has had a significant impact on the underlying assets of each company (inflating valuations for a shorter period). I'll be looking forward to the new, more promising acquisitions they consider in the future.
Full article here: https://ca.finance.yahoo.com/news/defi-technologies-inc-announces-agm-220000686.html
Ever since the comeback starting in July, $DEFI has continued to assert dominance in the space. With rapid business growth in both $DEFI and the subsidiaries, there's a lot more room for upside here.
Look at Valour, which recently announced $208M in AUM, up nearly 50% from 3 weeks prior, and new ETPs are still being launched. If that doesn't say growth, then I don't know what will...
Overall, I'll be buying the dips as I have been doing for a while. $2.00 still seems cheap to me when looking at the recent growth of $DEFI and the DeFi sector. GLTA!