Category: Canada

U.S. brokerage Robinhood Markets set to acquire crypto company WonderFi for $250-million

Written by Alexandra Posadzki on . Posted in Canada. Leave a Comment

Popular commission-free U.S. brokerage Robinhood Markets Inc. HOOD-Q is entering the Canadian market with a $250-million deal to acquire cryptocurrency company WonderFi Technologies Inc. WNDR-T.

The deal, which is subject to shareholder and regulatory approval, values WonderFi at 36 cents per share, representing a 41-per-cent premium over its closing price on Monday.

WonderFi closed at 34.5 cents per share, up nine cents or 35 per cent, on the Toronto Stock Exchange on Tuesday.

The acquisition is the latest example of consolidation in a sector that has surged in recent months thanks to support from U.S. President Donald Trump, who branded himself as the pro-crypto candidate during the 2024 election campaign.

Since his return to office, U.S. regulators have pulled back on cryptocurrency-related enforcement. Mr. Trump, meanwhile, has rewarded the top 220 buyers of his digital token, $TRUMP, with an exclusive dinner set to take place later this month.

“Through the election and into the inauguration, we saw a massive increase in excitement across the industry, which led to rapid signups and greater adoption than typically seen,” Dean Skurka, WonderFi’s president and chief executive officer, said in an interview Tuesday.

He added: “With the likelihood of favourable regulation in the U.S. with the current administration, we expect the industry to become more mainstream, which will just fuel adoption rates in Canada and abroad.”

WonderFi’s executive chair, Bobby Halpern, first acquired cryptocurrency trading platform Bitbuy in early 2018 for $330,000. The company had 500 customers and operated out of a small Toronto office.

WonderFi, which was backed by Shark Tank star Kevin O’Leary, acquired Bitbuy’s parent in 2022 for $206-million in cash and stock.

The following year, the company struck a three-way merger deal with CoinSmart Financial Inc. and Coinsquare Ltd., as the platforms sought scale to compete against global cryptocurrency exchanges.

“WonderFi has consolidated the Canadian registered crypto trading platforms over the last three years, and through that, we’ve seen the value that scale creates within the Canadian market,” Mr. Skurka said.

The deal with Robinhood “will continue to allow us to grow at a meaningful rate in the Canadian market.”

In recent years, WonderFi has traded at below 40 cents per share and has struggled to turn a profit. In 2023, it reported a $17.5-million loss for the full 12 months, narrowing to a $1.2-million loss in 2024.

Initial discussions between WonderFi and California-based Robinhood began late last year.

Johann Kerbrat, Robinhood’s senior vice-president and general manager of crypto, said the fintech was looking to enter Canada, where it already has an engineering team but no operations.

WonderFi was appealing to Robinhood because it’s regulated, owns two recognized brands – Coinsquare and Bitbuy – and has more than $2.1-billion in client assets, Mr. Kerbrat said.

“We think WonderFi was kind of the ideal partner for us to accelerate our mission to enter Canada,” he said.

Mr. Halpern said he expects the deal to close in the second half of 2025.

Gamehost Announces First Quarter Financial Results and Dividend for May

Written by Newsfile on . Posted in Canada. Leave a Comment

Published May 13, 2025  •  5 minute read

Red Deer, Alberta–(Newsfile Corp. – May 13, 2025) – Gamehost Inc. (TSX: GH)

Management and Directors of Gamehost Inc. (the “Company”) present results for the three months ended March 31, 2025 (the “Period” or “Quarter”).

Operating revenue for the Quarter was up 3.3% to $21,222,300 ($20,547,200 – 2024). Earning before interest, taxes, depreciation and amortization (“EBITDA”) was up 7.5% to $8,514,100 ($7,920,700 – 2024). Earnings per share for the Quarter was $0.26 ($0.22 – 2024). All segments posted positive results for the Quarter, but hotels were a standout with double digit growth.

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Regionally, results get better as we look from north to south in the province. Operating revenues were down 8.1% in Fort McMurray, mostly flat in Grande Prairie, and up 8.0% in Calgary. A 2.0% temporary lift in operators’ share of electronic gaming device win from 15.0% to 17.0% remains in place to March 31, 2026. AGLC continues to evaluate the programs success at driving Cash Play.

During the Quarter, the Company repurchased 126,800 common shares for an aggregate $1,318,100, reduced debt by $2,066,300, invested $161,400 in capital improvements, and paid dividends of $3,150,100.

Consumers, already squeezed by higher interest rates and inflation, though both are improving, now have additional uncertainty to contend with. America’s ‘Liberation Day’ tariffs were enacted on the Canadian and Alberta economies immediately following the end of the Quarter. In addition, we had a federal election which produced a result not favoured by the majority of Albertans. How any of this translates to Company operations is not presently clear. Notably, the USA administration has ignited a wave of nationalism with Canadians that has not been seen in decades. This is resulting in meaningful shifts in consumer behavior toward Canadian businesses, products and travel destinations. Furthermore, there has been a seismic shift in Canadian attitudes towards greater economic and energy independence from the USA which may result in nation building projects, previously thought unlikely.

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Gamehost Inc.
Financial Highlights
Unaudited – Canadian dollars (thousands except per share figures)
three months ended March 31    
2025 2024 % Chg.
Operating revenue $ 21,222.3 $ 20,547.2 3.3%
Cost of sales      
Other (11,674.1 ) (11,628.8 )  
Depreciation (805.5 ) (820.9 )  
(12,479.6 ) (12,449.7 )  
Gross profit 8,742.7 8,097.5 8.0%
     
Lease and other income 54.5 46.3  
     
Administrative expenses      
Other (1,124.6 ) (1,100.7 )  
Depreciation (206.4 ) (217.1 )  
(1,331.0 ) (1,317.8 )  
Profit from operating activities 7,466.2 6,826.0 9.4%
     
Gain on disposal of assets – 9.4  
Net finance costs (451.2 ) (667.0 )  
Profit before income tax 7,015.0 6,168.4  
     
Income tax expense (1,619.4 ) (1,422.2 )  
Profit and comprehensive profit 5,395.6 4,746.2 13.7%
     
Earnings per share      
Basic and fully diluted $ 0.26 $ 0.22 15.7%
     
Weighted average number of common shares outstanding      
Basic and fully diluted (x 000) 20,978.9 21,358.9  
     
EBITDA $ 8,514.1 $ 7,920.7 7.5%
EBITDA % 39.9% 38.4%  
     
31-Mar-25 31-Dec-24  
Cash $ 14,861.6 $ 14,393.6  
Total assets $ 174,464.1 $ 175,838.4  
Total debt $ 35,327.0 $ 37,393.2  

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Gamehost has declared a regular monthly cash dividend for the month of May 2025 of $0.05 (CDN) per common share which equates to $0.60 (CDN) per common share on an annualized basis. The dividend will be paid on June 13, 2025 to shareholders of record on May 31, 2025. This dividend is considered an “Eligible Dividend” and therefore, eligible for the enhanced gross-up and dividend tax credit available to Canadian shareholders.

This press release may contain certain “forward-looking information” or statements within the meaning of applicable securities legislation and may contain words such as “anticipates”, “believes”, “could”, “expects”, “indicates”, “plans”, “withstand”, “further” or other similar expressions that suggest future outcomes or events. Forward-looking information is based on the Company’s current expectations, estimates, projections and assumptions that were made by the Company in light of its historical trends and other factors. All information or statements, other than statements of historical fact, are forward-looking information including any statements that address expectations related to future economic outcomes or the Company’s dividend. Forward-looking statements reflect reasonable assumptions made on the basis of management’s current beliefs with information known by management at the time of writing. Many factors could cause actual results to differ from the results discussed in forward-looking statements. Actual results may not be consistent with these forward-looking statements.

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The Company has included non-International Financial Reporting Standards (“non-IFRS”) measures in this press release. EBITDA, as defined by the Company, means earnings before interest and financing costs, income taxes, depreciation and amortization, and foreign exchange gains or losses. The Company believes EBITDA is a useful measure because it provides information to management and investors about the Company’s performance in generating operating cash flow to fund working capital needs, service debt obligations, fund future capital expenditures and support dividend policy. Readers are cautioned that non-IFRS measures do not have any standardized meaning prescribed by IFRS and should not be taken as alternatives to net earnings measured in accordance with IFRS. The Company’s method of calculating non-IFRS measures may not be comparable to similarly titled measures used by other reporting entities.

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Gamehost is a corporation established under the laws of the Province of Alberta. The Company’s operations are all located in the Province of Alberta, Canada. Operations of the Company include the Rivers Casino & Entertainment Centre in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites and Encore Suites hotels as well as a strip mall all located in Grande Prairie and the Deerfoot Inn & Casino in S.E. Calgary.

These consolidated interim financial results include the accounts of Gamehost Inc. and its subsidiaries; however, they do not include all disclosures normally provided in consolidated interim financial statements and should be read in conjunction with the 2025 Q1 consolidated interim financial statements. Further, while the financial figures included in this announcement have been computed in accordance with IFRS applicable to annual periods, this announcement does not contain sufficient information to constitute an annual financial report and should be read in conjunction with the 2024 annual financial report for the twelve and three months ended December 31, 2024. This interim report will be filed in its entirety, along with historical financial reports on the Company’s website at www.gamehost.ca and on SEDAR at www.sedarplus.ca along with the Company’s other continuous disclosure documents, when they are available.

Gamehost common shares trade on the Toronto Stock Exchange (TSX) under the symbol GH. For more information, contact:

Not intended for distribution to U.S. newswire services or for dissemination in the U.S.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251745

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MSO TerrAscend acquires marijuana stores in Ohio, New Jersey

Written by Margaret Jackson on . Posted in Canada. Leave a Comment

TerrAscend Corp. has closed on its acquisition of Ohio retailer Ratio Cannabis for $10.3 million, marking the marijuana multistate operator ’s entry into its sixth state.

The previously announced acquisition increases TerrAscend’s retail footprint to 39 states in six states and Canada, according to a company news release.


TerrAscend, which has offices in Toronto and King of Prussia, Pennsylvania, plans to acquire additional outlets in Ohio.

“Entering Ohio has long been a priority for us,” TerrAscend Executive Chair Jason Wild said in a statement about acquiring the store in Goshen Township, a Cincinnati suburb.

“This acquisition is a great first step in Ohio, and we will continue to aggressively pursue additional accretive dispensary acquisitions up to the eight-dispensary state limit.”

TerrAscend has been on an acquisition spree.

Earlier this month, the MSO signed an agreement to acquire Union Chill Cannabis Co., its fourth New Jersey store.

The outlet, located in Hunterdon County near Lambertville, generates more than $11 million in annualized revenue, according to a separate release.

Meanwhile, TerrAscend last week reported first-quarter net revenue of $71 million, down 4.5% from $74.4 million in the fourth quarter of 2024.

The company’s shares trade on the Toronto Stock Exchange as TSND.

Galaxy Digital reports $295M loss ahead of this week’s Nasdaq listing

Written by Hannah Collymore on . Posted in Canada. Leave a Comment

Galaxy Digital Holdings and its related subsidiaries have reported a net loss of $295 million for the first quarter of 2025. This is coming a few days before its much-anticipated listing on the Nasdaq Stock Market.

The digital assets and data infrastructure provider claims its reported loss is a result of a decline in the prices of digital assets, a $57 million impairment charge, and disposal costs that came as a result of the winding down of mining operations at its Helios data center.

Impending listing on Nasdaq and corporate reorganization

The first quarter financial report for Galaxy Digital wasn’t all stellar as it reported a net loss of $295 million, which is a stark contrast from the previous quarter, where it made a reported $118 net income.

Its gross revenues and gains from operations were $12.9 billion, and this figure was offset by $13.1 billion in gross transaction expenses, marking a 21% quarter-over-quarter decline.

However, the reality wasn’t all grim as it still maintained a positive balance sheet with over $1.1 billion in cash and stablecoins and equity capital, which stood at $1.9 billion at the end of the quarter.

The company’s shareholders recently voted to approve its domestication as a Delaware corporation.

Last month, Galaxy Digital announced that it had received approval from the SEC to domesticate to Delaware from the Cayman Islands, a move that is seen to enable its potential listing on Nasdaq.

Galaxy Digital, which is currently listed on the Toronto Stock Exchange, also sought approval from the exchange for its move to the US. It intends to begin trading its Class A common stock on the Nasdaq on May 16 under the ticker symbol, GLXY.

Galaxy Digital’s data center commitments with CoreWeave

Galaxy directed attention to the expansion plans at its Helios data center campus. CoreWeave, a cloud infrastructure company, exercised an option to lease an additional 260 megawatts of computing capacity on top of a 133 MW lease announced in March.

The expansion brings CoreWeave’s total committed capacity at Helios to approximately 393 MW, with deliveries beginning in 2027.

The Helios facility is a key part of Galaxy’s strategy to diversify beyond digital asset trading and investment as it pivots toward AI and high-performance computing infrastructure.

Despite the Q1 setback, Galaxy remains optimistic about its outlook. The company estimates operating income between $160 million and $170 million for the second quarter through May 12. Equity capital has rebounded to approximately $2.2 billion in the same period.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage

Robinhood Markets signs deal to buy WonderFi Technologies for $250M

Written by Canadian Press on . Posted in Canada. Leave a Comment

TORONTO — Robinhood Markets Inc. has signed a deal to buy Canadian cryptocurrency company WonderFi Technologies Inc. for $250 million.

WonderFi owns cryptocurrency platforms Bitbuy and Coinsquare.

Under the deal, Robinhood will pay 36 cents per WonderFi share.

WonderFi shares rose nine cents to 34.5 cents in afternoon trading Tuesday on the Toronto Stock Exchange.

Robinhood established a Canadian headquarters in Toronto last year.

WonderFi will continue to operate its products after the deal closes, and the company’s leadership team will stay on as part of Robinhood Crypto.

This report by The Canadian Press was first published May 13, 2025.

Companies in this story: (TSX:WNDR)

The Canadian Press

TSX gains as investors assess US inflation data

Written by Reuters on . Posted in Canada. Leave a Comment

Canada’s main stock index rose on Tuesday, led by gains in technology stocks, as investors assessed U.S. inflation data and its impact on monetary policy outlook.

The Toronto Stock Exchange’s S&P/TSX composite index was up 0.5% at 25,655.67 points.

The U.S. consumer prices rebounded moderately in April, rising 0.2% after a 0.1% dip in March, with inflation expected to pick up in the coming months as tariffs boost import costs.

Following the report, traders leaned into bets that the Federal Reserve would hold off on lowering interest rates until September, while still anticipating two 25-basis-point cuts by year’s end.

“Canadian investors are cautiously optimistic, eyeing U.S. inflation data showing tariff-driven price hikes. The TSX may face mild volatility, but sentiment is buoyed by expectations of Bank of Canada rate cuts. The data’s impact today will be notable but not dominant”, said Graham Priest, investment advisor at BlueShore Financial.

TSX gains on US-China tariff agreement

Meanwhile, the U.S. and China on Monday said they would pause their trade war for 90 days, bringing down reciprocal duties and removing other measures while they negotiate a more permanent arrangement.

“The US-China tariff reduction fueled Monday’s TSX surge, but today’s sentiment may temper as investors weigh the 90-day truce’s fragility, persistent trade uncertainties and domestic economic pressures”, added Graham.

Meanwhile, U.S. Trade Representative Jamieson Greer said a 10% universal tariff on goods entering the United States would stay in place but officials were in talks with many countries to lower additional tariffs imposed.

On TSX, information and technology stocks gained 1.4%, in line with the tech-heavy Nasdaq Composite, while energy stocks advanced 0.9%, tracking gains in oil prices.

In corporate new, WonderFi is up 35.3%, after retail trading platform Robinhood said it will buy the Canadian crypto firm for C$250 million ($178.98 million).

Robinhood To Acquire WonderFi for $178M at 41% Premium – Canada Crypto Power Play

Written by Tanzeel Akhtar on . Posted in Canada. Leave a Comment

Journalist

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

Last updated: 



Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas – from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Robinhood

Robinhood Markets, Inc. jolted Canada’s crypto sector on May 13 by signing an agreement to acquire WonderFi, one of Canada’s leading regulated digital asset platforms for C$250 million (US$178.56 million).

With over C$2.1 billion in assets under custody and a strong portfolio that includes Bitbuy and Coinsquare, WonderFi has positioned itself as a key player in Canada’s crypto sector.

Post-acquisition, WonderFi will continue operating its existing products, while its leadership and employees will integrate into Robinhood Crypto. The deal marks a milestone in Robinhood’s ongoing effort to build a global financial ecosystem, with Canada serving as a strategic hub.

Robinhood’s user-centric, low-cost platform aligns closely with WonderFi’s mission of broadening access to crypto. Johann Kerbrat, SVP and GM of Robinhood Crypto, emphasized the synergy between the two companies, calling WonderFi “an ideal partner to accelerate Robinhood’s mission in Canada.”

Robinhood’s Canadian headquarters, established in Toronto in 2024, already hosts over 140 employees and serves as an infrastructure engineering hub.

WonderFi Shareholders to Receive All-Cash Consideration

Under the terms of the agreement, Robinhood will acquire all issued and outstanding common shares of WonderFi for C$0.36 per share in cash.

This will be executed through a statutory plan of arrangement under British Columbia’s Business Corporations Act. The total equity value of the deal stands at approximately C$250 million on a fully diluted, in-the-money basis.

WonderFi President and CEO Dean Skurka expressed confidence in the alignment of the companies’ missions.

“We’re delighted to be joining the Robinhood team and to supercharge our product offerings for customers,” he said. Bobby Halpern, Executive Chairman of WonderFi, added that the all-cash offer represents the culmination of years of development, creating a launchpad for further growth under Robinhood.

Purchase Price Represents a 41% Premium

The purchase price reflects a 41% premium to WonderFi’s closing share price on the Toronto Stock Exchange as of May 12, 2025, and a 71% premium to the 30-day volume-weighted average price.

The deal is expected to close in the second half of 2025, subject to shareholder, court, and regulatory approvals.

J.P. Morgan advised Robinhood, while Financial Technology Partners advised WonderFi, and received legal and fairness-opinion support from several prominent Canadian firms.

Robinhood Plans Blockchain-Based Trading for Europe

Robinhood is developing a blockchain-based platform that will allow retail investors in Europe to trade U.S. securities, including stocks.

The initiative will likely be launched in partnership with a digital-asset firm. Both Arbitrum, a blockchain overlaid on Ethereum, and Solana have been under consideration for the collaboration, though discussions are still ongoing. This move to offer tokenized U.S. securities aligns with a broader trend in the financial industry.


Robinhood to acquire Canadian crypto exchange WonderFi for $179M

Written by TSX Stocks on . Posted in Canada. Leave a Comment

Online stockbroker and trading giant Robinhood Markets Inc. announced today it has agreed to acquire WonderFi Technologies Inc., a Canadian digital asset and cryptocurrency trading firm for CA$250M, or $179 million, in an all-cash deal.

Founded in 2021, WonderFi operates two of Canada’s largest regulated crypto trading platforms, BitBuy and Coinsquare. Together, they handle over CA$2.1 billion in assets under custody.

The deal values WonderFi’s shares at around CA$0.36 each, a 41% premium to their closing on May 12 on the Toronto Stock Exchange, and a premium of 71% compared to the 30-day volume-weighted average trading price.

Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, said the company looks forward to working with WonderFi and serving Canadian customers by delivering crypto-centric products. “WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada,” said Kerbrat.

This move represents Robinhood’s continued efforts to expand its cryptocurrency services globally with its Robinhood Crypto trading capabilities, which allow users to buy and sell crypto assets like they can stocks.

Robinhood added crypto trading for United States customers to its platform during a slow rollout in 2018, beginning with a small number of cryptocurrencies and expanding to more than 30 crypto assets, including bitcoin and Ethereum. In 2024, the company agreed to acquire Bitstamp Ltd. for $200 million. Bitstamp is a notable crypto exchange with global reach; the company holds more than 50 licenses and registrations globally, facilitating expansion into new markets like the United Kingdom, the European Union and Asia.

According to the company, WonderFi will continue to operate its product after the acquisition closes and its leadership team will stay on as part of Robinhood Crypto. Robinhood has an established Canadian headquarters in Toronto in 2024 that will serve as a hub for the new partnership.

The acquisition is expected to close in the second half of 2025, subject to regulatory approval, closing conditions and approval by WonderFi’s shareholders.

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Robinhood To Acquire Canada’s WonderFi For $178M All-Cash Deal

Written by Murtuza J Merchant on . Posted in Canada. Leave a Comment

Robinhood Markets, Inc. HOOD has signed an agreement to acquire WonderFi Technologies Inc., a Canadian cryptocurrency platform, in an all-cash transaction valued at approximately $178 million.

What Happened: The purchase price of $0.26 per share represents a 41 percent premium over WonderFi’s closing price on May 12 and a 71 percent premium over its 30-day volume-weighted average price, according to a company statement.

WonderFi operates Bitbuy and Coinsquare, two regulated cryptocurrency exchanges in Canada, with a reported $1.49 billion in assets under custody.

The company will continue operating its platforms after the transaction closes.

The deal is expected to be completed in the second half of 2025, subject to shareholder approval, regulatory review and court authorization.

Robinhood, which opened a Canadian headquarters in Toronto in 2024, will incorporate WonderFi’s operations into its existing crypto business.

According to the agreement, WonderFi’s leadership team is expected to remain with the company following the acquisition.

Employees will be added to Robinhood’s Canadian workforce, which currently includes over 140 people.

Also Read: Coinbase Could See Up To $16B Net Inflows After S&P 500 Entry: Bernstein

The acquisition will be carried out under a statutory plan of arrangement governed by British Columbia corporate law.

Robinhood plans to fund the purchase using existing cash reserves. No stock issuance or debt financing will be used to support the transaction.

WonderFi shareholders will receive the full purchase amount in cash.

The company’s common shares are currently listed on the Toronto Stock Exchange. The combined equity value of the transaction, on a fully diluted basis, stands at approximately $178 million.

Advisors on the deal include J.P. Morgan Securities for Robinhood and Financial Technology Partners for WonderFi.

Legal counsel was provided by Canadian firms on both sides, including Goodmans LLP, Cassels Brock & Blackwell LLP, and Mintz LLP.

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