CSE: VYGR
OTCQB: VYGVF
Borse Frankfurt: UCD2
Increases Fiscal Year and Fourth Quarter
Revenue 1,159% and 701%, Respectively Grows Total
Brokerage Accounts 750% for the Year
NEW YORK, July 14, 2020 /CNW/ - Voyager Digital
(Canada) Ltd. ("Voyager" or the
"Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), a public,
licensed crypto-asset broker that provides investors with a turnkey
solution to trade crypto assets, is pleased to provide shareholders
with a business and operational update as of June 30, 2020. The Company also announces
preliminary unaudited revenue of approximately $1.1 million for the fiscal year ended
June 30, 2020, representing a 1,159%
year-over-year increase. Voyager expects to file its full-year
fiscal 2020 financial statements and MD&A on or before
September 30, 2020.
"Our exceptional business momentum carried over into the fourth
quarter, where we saw strong revenue growth both sequentially and
year-over-year," said Stephen
Ehrlich, CEO and Co-Founder of Voyager. "During fiscal 2020,
we also demonstrated strong operational results with account growth
of 750%. Additionally, we achieved significant increases in our
customer assets, funded accounts and principal value traded, which
grew 725% to $165 million at year
end. These results reflect our evolution this past year into a
fully integrated digital asset agency broker."
Operational and Financial Milestones
- Preliminary unaudited revenue of approximately $1.1 million for the fiscal year ended
June 30, 2020, compared to
$87,318 for the fiscal year ended
June 30, 2019, an increase of
1,159%
- Fourth quarter revenue grew over 701% year-over-year and 148%
sequentially to approximately $700,000, compared to $282,078 for the quarter ended March 31, 2020
- Over 230,000 global users across Voyager platforms as of
June 30, 2020
- Total brokerage accounts increased 750% year-over-year to
86,000 at June 30, 2020, compared to
10,000 as of June 30, 2019
- Grew number of customer funded accounts by 1,050% during the
fiscal year
- Increased number of Know Your Customer ("KYC") compliant
accounts by 50.5% for the three months ended June 30, 2020
- Principal value traded at June 30,
2020 was $165.0 million,
compared to $20.0 million at
June 30, 2019
- Grew customer assets by 1,959% to $35.0
million at June 30, 2020,
compared to $1.7 million at
June 30, 2019
- Completed non-brokered private placement for gross proceeds of
C$2,896,888 (US$2,161,282)
Recent Business Updates
- Added new digital assets to the Voyager Platform including
Ripple (XRP), EOS (EOS), Stellar Lumens (XLM), OmiseGo (OMG), ZRX
(0x), Compound (COMP), Kyber Network (KNC), Maker (MKR),
Multi-Collateral Dai (DAI) and Celo (CELO), expanding trade
execution capabilities to 39 digital assets
- Partnered with Bosonic, a leading crypto focused Prime Broker,
to deliver greater liquidity and trade execution to institutional
clients utilizing Voyager's dynamic Smart Order Router and
Bosonic's real-time clearing and settlement solution
- Partnered with Silver Cost Basis, a leading provider of
regulatory cost basis processing solutions, to deliver year-end
cryptocurrency gain/loss statements to its customers
- Completed the acquisition of Circle Invest, the retail digital
asset business from Circle Internet Financial, Inc., adding over
40,000 retail accounts to Voyager's customer base and making
Voyager one of the largest digital-asset-only agency brokers in the
U.S.
Upcoming Milestones
Voyager expects to execute on the following key initiatives
during the balance of calendar year 2020:
- Integrate all of Circle Stablecoin platform services into
Voyager's service offerings
- International expansion to facilitate trading in multiple
foreign countries
- Obtain BitLicense from the New York
State Department of Financial Services (NYSDFS), a business
license for virtual currency activities
- Continued expansion of API distribution partnerships
- Expansion of Interest program to cover additional assets
- Continued listing of new digital assets to the platform
- Additional strategic partnerships to expand Dynamic Smart Order
Router utilization
Mr. Ehrlich added, "Looking ahead, we continue to take steps to
strengthen the Voyager Platform, and grow both our retail and
institutional customer base. This includes continuing to increase
our coin offerings, partnerships with leading trading platforms and
expanding the use of our Dynamic Smart Order Router with strategic
partners like Bosonic. Our state-of-the-art digital trading
infrastructure positions us to benefit from the growing mainstream
adoption of digital assets by retail and institutional investors,
and as such, we expect to continue increasing revenue over the
course of 2020. With our recent platform enhancements to improve
ease-of-use and expand trade execution capabilities to 39 digital
assets, Voyager is quickly becoming a leader in the crypto trading
space as more customers are demanding a robust, simple to use
platform with more depth of liquidity and choices."
Other Developments
Voyager also announces it is
changing its corporate name to "Voyager Digital Ltd.", which better
reflects the Company's global user base. The new name will be
effective Thursday, July 16, 2020.
The Company's common shares will continue to trade on the Canadian
Securities Exchange under the stock symbol "VYGR" and on the OTCQB
under the stock symbol "VYGVF". The new CUSIP number of the
Company's common shares will be 92919V108 and the new ISIN number
will be CA92919V1085.
The Company also announces it has engaged the firm of StockVest,
of Celebration, Florida, to
undertake a four month marketing and investor relations campaign in
the U.S., in consideration of 200,000 common shares of Voyager
(which shares will be subject to a 12-month voluntary hold
period).
About Voyager Digital (Canada) Ltd.
Voyager Digital
(Canada) Ltd. is a crypto-asset
broker that provides retail and institutional investors with a
turnkey solution to trade crypto assets. Voyager offers customers
best execution and safe custody on a wide choice of popular
crypto-assets. Voyager was founded by established Wall Street and
Silicon Valley entrepreneurs who teamed to bring a better, more
transparent and cost-efficient alternative for trading
crypto-assets to the marketplace. Please visit us at
https://www.investvoyager.com for more information and to
review the latest Corporate Presentation.
Neither the Canadian Securities Exchange nor its Market
Regulator (as that term is defined in the policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release. No securities regulatory authority has
either approved or disapproved of the contents of this press
release.
Cautionary Statement Regarding Forward-Looking
Information: The forward-looking statements contained herein
are made as of the date of this release and, other than as required
by applicable securities laws, the Company does not assume any
obligation to update or revise it to reflect new events or
circumstances. There is no assurance any of the upcoming milestones
listed above will be realized in the manner contemplated, or at
all. The forward-looking statements contained in this release are
expressly qualified by this cautionary statement.
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SOURCE Voyager Digital (Canada)
Ltd.
