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Cinaport Acquisition Corp. III Settled Litigation with Coinberry Ltd.

V.CAC.P

Toronto, Ontario--(Newsfile Corp. - July 6, 2022) - Cinaport Acquisition Corp. III (TSXV: CAC.P) (the "Company"), a capital pool company listed on the TSX Venture Exchange (the "Exchange"), is pleased to announce that following the Company's press release dated April 18, 2022 announcing the settlement agreement (the "Settlement Agreement") with Coinberry Limited ("Coinberry"), the Company has received 3,100,000 common shares (the "Settlement Shares") of WonderFi Technologies Inc. in settlement of the Company's previously announced legal proceedings against Coinberry in the Ontario Superior Court of Justice (the "Legal Action"). 75% of the Settlement Shares are subject to a contractual lock up with each 25% of the Settlement Shares to be released from the lock-up on August 31, September 30, and October 30, 2022. Following the Company's receipt of the Settlement Shares, the Company has provided a full release to Coinberry which concluded the settlement of the Legal Action pursuant to the terms of the Settlement Agreement.

For more information, please contact:

Avi Grewal
President & Chief Executive Officer
Phone: (416) 723-4582
E-mail: agrewal@cinaport.com

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130141