August 12, 2022

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Voyager Digital provides market updates

Voyager Digital provides market updates

New YorkAnd the 27 June 2022 /PRNewswire/- Voyager Digital Ltd. (“Voyager” or “the Company”) (TSX: VOYG) (OTCQX: VYGVF(FRA: UCD2) today announced that its subsidiary, Voyager Digital LLC, has issued a default notice to Three Arrows Capital (“3AC”) for failing to make required payments on its previously disclosed loan of 15,250 BTC and 350 million dollars USDC. Voyager intends to pursue recovery from 3AC and is in discussions with the company’s advisors regarding available legal solutions.

The platform continues to operate, fulfilling customer requests and withdrawals. From June 24, 2022Voyager has approximately 137 million US dollars Cash and owned crypto assets on hand. The company also has access to what was previously announced 200 million US dollars Cash, USDC pistol and 15,000 BTC pistol from Alameda Ventures Ltd.

The company has arrived 75 million US dollars From the credit limit provided by Alameda and may continue to benefit from Alameda Facility to facilitate customer orders and withdrawals, as needed. A default in 3AC does not cause a default in the agreement with Alameda.

“We are working hard and fast to strengthen our balance sheet and pursue options so that we can continue to meet the liquidity requirements of clients,” he said. Stephen ErlichCEO of Voyager.

As part of this process, the company has appointed Moelis & Company as its financial advisors.

About Voyager Digital Ltd.

Voyager Digital Ltd.’s (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) The US subsidiary of Voyager Digital, LLC is a cryptocurrency platform in the United States United State Founded in 2018 to bring choice, transparency and cost-effectiveness to the market. Voyager offers a secure way to trade over 100 different crypto assets using an easy-to-use mobile app. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions to both consumers and merchants worldwide. To learn more about the company, please visit https://www.investvoyager.com.

forward-looking statements

Certain information in this press release, including, but not limited to, statements regarding future growth and business performance, momentum in the business, future adoption of digital assets, availability of a credit agreement, and the impact of the 3AC default on the Company, including its ability to use The credit agreement, the Company’s liquidity, its ability to satisfy customer orders, withdrawals, and the Company’s expected results may constitute forward-looking information (collectively, forward-looking statements), which may be identified through the use of terms such as “may,” “will,” “should,” “expect,” or “expect,” “project,” “estimate,” “intend,” “continue,” “believe” (or negatives) or other similar forms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Voyager’s actual results, performance or achievements to differ materially from any of its future results, performance or achievements expressed or implied by forward-looking statements. Furthermore, we operate in a highly competitive and rapidly changing environment. New risks appear from time to time. It is not possible for our management to predict all risks, and we cannot assess the impact of all factors on our business or the extent to which any factor, or combination of factors, could cause actual results to differ materially from those in any future. Appearance statements we may make. In light of these risks, uncertainties and assumptions, future events and trends discussed in this press release may not occur and actual results may differ materially and negatively from those projected or implied in the forward-looking statements. There is no guarantee that funds made available under the Loan Agreement will be available in a timely manner or, even if available, will be sufficient with any other Voyager assets to protect Customer’s assets and no guarantee that Voyager will meet the conditions required for withdrawal under the credit facility. It is not certain how much Voyager will be able to recover from 3AC for non-payment and whether a default of 3AC would constitute a default under its credit agreement or the legal remedies available to Voyager with respect to such non-payment or the impact on future business, cash flow, liquidity and Voyager’s prospects as a result of 3AC not reimbursed. Forward-looking statements are subject to the risk that the global economy, industry or the Company’s business and investments may not perform as expected, or estimates of revenue or expenditures may not be met, or may be less or more than expected, from parties to whom the Company lends assets will be able to repay these Loans in full and on time This trading momentum does not continue or demand for trading solutions decreases Customer acquisition does not increase as planned International product expansion does not occur as planned Compliance risks with laws and regulations that currently apply or become applicable on business and those other risks contained in the company’s public filings, including management discussion, analysis, and annual information form (AIF). Factors that could cause the Company’s actual results and business to differ materially from those described in such forward-looking statements include, without limitation, the inability to withdraw under credit facilities or access to other funding sources, and an increase in customer requests for withdrawals from the Platform. any bankruptcy or similar proceeding in connection with 3AC, a decline in the digital asset market or general economic conditions; Changes in laws or regulatory approaches, failures or delays in the adoption of digital assets and the blockchain ecosystem by institutions; Changes in the volatility of cryptocurrencies, changes in the demand for Bitcoin and Ethereum, changes in the status or rating of crypto-assets, cybersecurity breaches, delays or failures in developing business infrastructure or fulfilling mandates and gaining power; Failure to develop the assets under management, or an adverse development with respect to an issuer or party to the transaction, or failure to obtain the required regulatory approval. Readers are cautioned that the assets on the platform and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the control of the Company. Forward-looking statements, past and current performance and trends are not guarantees of future performance, and therefore, you should not place undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties about the Company is included in its files with the Canadian Securities Regulators available at www.sedar.com. The forward-looking statements contained in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances. After that date or to reflect the occurrence of unforeseen events, except as required by law. The Company has no obligation to provide operational updates, except as required by law. If the Company updates one or more of the forward-looking statements, it should not infer that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and that current trends in business may not sustain demand for digital assets and readers should not rely undue upon past performance and current trends. There is no guarantee that the transactions set out in the non-binding terms sheet will be completed or, if completed, in accordance with the agreed terms. There is no guarantee that funds made available under the Loan Agreement will be available or, even if available, will be sufficient with any other Voyager assets to protect Customer’s assets. In the event that the demand for withdrawals from customers exceeds the cash available to the company and its ability to withdraw from the credit facilities, the company may not be able to meet all the demands of customers.

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TSX does not agree or reject the information contained herein.

SOURCE Voyager Digital Ltd.