Voyager Digital Provides Market Update

New York, July 1, 2022 / PRNewswire /-Voyager Digital LLC, operating platform Voyager Digital Co., Ltd. (“Voyager” or “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) has announced that it will temporarily suspend transaction, deposit, withdrawal and loyalty rewards. 2:00 pm eastern daylight saving time today.

“This was a very difficult decision, but I believe it is the right decision given the current market conditions,” he said. Stephen Erich, Chief Executive Officer of Voyager. This decision gives us additional time to continue to explore strategic alternatives with various stakeholders while preserving the value of the Voyager platform we built together. Add at the right time. I will provide information. “

Voyager previously announced that its subsidiary, Voyager Digital LLC, has issued a default notice to ThreeArrows Capital (“3AC”) for failing to make the required payments for the previously disclosed 15,250 BTC loan. $ 350 million USDC. Voyager is actively pursuing all available remedies for recovery from 3AC. This includes a court order liquidation process. British Virgin Islands..

To support the search for strategic alternatives, we employ Moelis & Company and The Consello Group as financial advisors and Kirkland & Ellis LLP as legal counsel.

Voyager also provided the following financial and balance sheet updates in accordance with the requirements of Canadian Securities Act. All figures are tentative, unreviewed, unaudited and subject to final adjustment after completion of quarterly and year-end closing procedures.

Note A: Balance includes: $ 350 million USDC and 15,250 BTC have been lent to Three Arrows Capital.

Current June 30, 2022The rented crypto assets consisted of the following (thousands excluding the number of coins):

Note B: Includes 15,250 BTC rented to Three Arrows Capital.

Note C: It contains $ 350 million USDC lent to Three Arrows Capital.

Current June 30, 2022The crypto assets that were disassembled and lent out by a significant borrowing counterparty were: (thousands) (see previous submissions for comparison information):

Current June 30, 2022Cryptocurrency loan balances were concentrated on counterparties as follows (see previous filing for comparative information):

Note D: Represents the amount lent to Three Arrows Capital.

About Voyager Digital Ltd.

Voyager Digital Ltd. (TSX: VOYG) (OTCQX: VYGVF(FRA: UCD2) Voyager Digital, LLC, a US subsidiary, united states of america Established in 2018 to bring choice, transparency and cost effectiveness to the market. Voyager provides a secure way to trade over 100 different crypto assets using an easy-to-use mobile application. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions to both consumers and merchants around the world. For more information about the company, please visit: https://www.investvoyager.com..

Description of future prospects

Specific information in this press release describes strategic alternatives being considered, discussions with third parties about strategic alternatives, and the nature of the platform’s temporary outage as a result of those discussions, and future growth. Includes, but is not limited to. Business performance, strategic alternatives considered, future adoption of digital assets, expected trends and challenges in the business and industry, regulation of digital asset offerings, credit agreement availability, 3AC defaults Consists of forward-looking information (collectively, forward-looking statements), including the ability to leverage credit agreements, our liquidity and ability to meet customer orders and withdrawals, and our expected outcomes. It may be. “May”, “will”, “should”, “expect”, “expectate”, “project”, “estima” etc. te, “intend”, “continue”, “believe” (or negative) or similar variation. Forward-looking statements include known and unknown risks, uncertainties, and other factors, and Voyager’s actual results, performance, or outcomes are expressed or implied by forward-looking statements. Results, performance, or outcomes can vary significantly. In addition, we operate in a highly competitive and rapidly changing environment. New risks sometimes arise. It is not possible for our management to predict all risks, and the impact of all factors on our business, or any combination of factors or factors, may include actual results in the future. It is also not possible to evaluate ranges that can be significantly different. -A visual statement that we may make. In light of these risks, uncertainties, and assumptions, future events and trends described in this press release may not occur, and actual results are expected or implied in forward-looking statements. It can be substantially and unfavorably different from what you are doing. It is unclear how much Voyager can recover from 3AC in a non-payment, and whether the default of 3AC constitutes a default under its credit agreement or any legal remedy available to Voyager in connection with such non-payment or such non-payment. is. Future business, cash flow, liquidity and Voyager outlook as a result of 3AC non-payment. Forward-looking statements are at risk that the global economy, industry, or our business and investments may not function as expected, earnings or cost estimates may not be met, or may be significantly less or more than expected. Being exposed. Those who lend assets to us can repay such loans in full in a timely manner, the momentum of transactions does not continue, or the demand for trading solutions decreases, customer acquisition does not increase as planned, products and international. Risks of non-planned expansion, compliance with laws and regulations that are currently applied to or will be applied to the business, and management discussion and analysis and the Annual Information Form (AIF). Other risks contained in the published documents of. Factors that may cause the actual results of the Company and its business to differ materially from those described in such forward-looking statements include the consideration of strategic alternatives, the inability to resume transactions, the results of deposits and withdrawals. Includes, but is not limited to. Timely platform rewards, inaccessible drawdowns or other sources of funding under credit facilities, increasing customer demands for withdrawal from the platform, bankruptcy or similar proceedings regarding 3AC, our discovery Capability Strategic alternatives, decline in digital asset markets or general economic conditions. Legal changes or regulatory approaches, failed or delayed adoption of digital assets, and institutional blockchain ecosystems. Cryptocurrency volatility changes, Bitcoin and Ethereum demand changes, crypto asset status or classification changes, cyber security breaches, trading business infrastructure development or mandate achievement and traction delays or failures .. Failure to expand assets under management, adverse development of issuers or parties to the transaction, or failure to obtain the required regulatory approvals. Readers should be aware that assets and trading volumes on the platform may fluctuate and may fluctuate from time to time, and such fluctuations are beyond our control. Forward-looking statements, past and present performance and trends do not guarantee future performance. Therefore, do not overly rely on forward-looking statements, current or past performance, or current or past trends. Information that identifies assumptions, risks, and uncertainties related to us is included in the filings with Canadian securities regulators. www.sedar.com.. Forward-looking statements in this press release apply only as of the date of this release or as of the date specified in the relevant forward-looking statements, and we have made forward-looking statements to reflect events or circumstances. We are not obligated to update the description. To reflect the occurrence of an unexpected event after that date or unless required by law. We undertake no obligation to provide up-to-date operational information except as required by law. When we update one or more forward-looking statements, we do not necessarily make additional updates to them or other forward-looking statements, except as required by law. Readers should note that past performance does not indicate future performance. There is no guarantee that the funds available under the loan agreement are available, or even available, are sufficient to protect the assets along with other Voyager assets.

TSX has not endorsed or rejected the information contained herein.

Press contact

Voyager Digital Co., Ltd.

Voyager Public Relations Team
[emailprotected]

Source Voyager Digital Ltd.