Mogo Monetizes $13.8 Million of WonderFi Stake and Increases Bitcoin Holdings
This transaction is highly significant in the context of Mogo's current market capitalization of approximately $50 million, underscoring the intrinsic value of the company's investment portfolio and balance sheet.
The WonderFi shares were sold at a modest discount to the proposed deal value in connection with WonderFi's pending acquisition by Robinhood Markets, Inc. The Company currently plans to hold the remaining shares until that transaction closes, which WonderFi has stated is expected to occur in the second half of 2025, subject to customary closing conditions (see WonderFi's July 30, 2025 press release: link).
'We saw a timely opportunity to unlock value on a portion of our position while retaining meaningful exposure to WonderFi,' said Greg Feller, President & CFO of Mogo. 'This transaction reflects our disciplined approach to capital allocation and allows us to accelerate our Bitcoin treasury strategy.'
Mogo is allocating the proceeds from this monetization in line with its long-term capital strategy. With these proceeds, the Company has increased its investment in Bitcoin 1 to approximately $2 million, further reinforcing its conviction in Bitcoin as a strategic reserve asset and a core pillar of its treasury strategy.
About Mogo
Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX.
1 Investment was done through Bitcoin ETFs.
Forward-Looking Statements
This news release may contain 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding expected closing of the transaction between WonderFi and Robinhood, Mogo's capital allocation strategy and Mogo's strategic initiatives. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements are typically identified by words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, including receipt of applicable regulatory approvals in respect of its products, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at www.sedarplus.com and www.sec.gov. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
6 minutes ago
- Globe and Mail
Stock Market News for Aug 4, 2025
U.S. stocks tumbled on Friday, with the S&P 500 recording its biggest daily percentage decline in over two months, as hefty tariffs slapped on dozens of countries by President Donald Trump and an unexpectedly weak jobs report raised concerns over a weakening economy. All three major indexes ended in negative territory. How Did The Benchmarks Perform? The Dow Jones Industrial Average (DJI) slid 1,2% or 542.40 points, to finish at 43,588.58 points. The S&P 500 declined 1.6%, or 101.38 points, to end at 6,238.01 points, posting its worst day since May 21. Consumer discretionary, tech and financial stocks were the worst performers. The Consumer Discretionary Select Sector SPDR (XLY) declined 2.4%. The Financials Select Sector SPDR (XLF) and the Technology Select Sector SPDR (XLK) slid 2.2 and 1.9%, respectively. Eight of the 11 sectors of the benchmark index ended in negative territory. The tech-heavy Nasdaq fell 2.2%, or 472.32 points, to close at 20,650.13 points, recording its biggest single-day decline since April 21. The fear gauge CBOE Volatility Index (VIX) was up 21.89% to 20.38. Decliners outnumbered advancers on the NYSE by a 2.17-to-1 ratio. On the Nasdaq, a 2.69-to-1 ratio favored declining issues. A total of 19.51 billion shares were traded on Friday, higher than the last 20-session average of 18.44 billion. Trump's New Tariffs, Weak Jobs Data Dent Investors' Confidence Trump signed an executive order hours before the Aug. 1 tariff deadline and slapped hefty duties on several trading partners of the United States, including Brazil, Canada, India and Taiwan, as these countries scrambled to work out fairer trade deals. Investors grew concerned once again as they believe that hefty tariffs could weigh on an already weakening economy and push inflation further up. Investors' confidence took a further hit after fresh data showed that jobs growth unexpectedly slowed in July, while June's numbers were downwardly revised, suggesting that the labor market is likely shrinking. Bank stocks took a hit on concerns that a slowing economy could impact loan growth. Shares of JPMorgan Chase & Co. ( JPM ) fell 2.3%, while Bank of America Corporation ( BAC ) and Wells Fargo & Company ( WFC ) declined 3.4% and 3.5%, respectively. This, however, raised hopes that the Federal Reserve will cut interest rates in its September policy meeting. The weak jobs data raised market expectations of a 25-basis-point rate cut in September to 86.5%, according to the CME's FedWatch Tool, up from 37.7% in Thursday's session. Amazon Weighs on Broader Market E-commerce giant Inc. ( AMZN ) was the biggest drag on all three major indexes. Amazon topped both earnings and revenue estimates. The company reported second-quarter earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.33 per share. The e-commerce giant posted revenues of $167.7 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.32% However, the company's shares declined 8.3% after it failed to meet the expectations for its Amazon Web Services. Amazon Web Services revenues grew 18% in the second quarter, but its growth rate lagged Microsoft Corporation's ( MSFT ) Azure's 39% and Alphabet, Inc.'s ( GOOGL ) Google Cloud's 32% growth rate. Amazon has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Economic Data The Labor Department reported on Friday that nonfarm payrolls increased by just 73,000 in July, sharply lower than analysts' expectations of a rise of 100,000. June's jobs growth was downwardly revised to just 14,000, from 147,000, while May's numbers totaled just 19,000 after being cut down from the initially reported 125,000. The unemployment rate jumped to 4.2% in July as household employment declined. Weekly Roundup All three indexes ended lower for the week. The Dow lost 2.9% for the week. The S&P 500 was down 2.4% for the week, while the Nasdaq lost 2.2%. Zacks Names #1 Semiconductor Stock This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN): Free Stock Analysis Report Bank of America Corporation (BAC): Free Stock Analysis Report Wells Fargo & Company (WFC): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report
Globe and Mail
10 minutes ago
- Globe and Mail
Futures Gain Ahead of BoC Decision
Futures tied to Canada's main stock index nudged higher on Wednesday ahead of the Bank of Canada's policy decision, while investors awaited trade updates as the August 1 tariff deadline drew closer. The TSX Composite Index jumped 135.32 points to conclude Tuesday at 27,540.74, yet another all-time record. Futures were up 0.2% Wednesday. The Canadian dollar shed 0.08 cents to 72.52 cents U.S. The BoC is expected to hold the rates at 2.75% for a third time, reflecting a softer-than-expected impact on the Canadian economy from the trade war with the U.S., economists predict. ON BAYSTREET The TSX Composite Index jumped 135.32 points to conclude Tuesday at 27,540.74. ON WALLSTREET Stock futures were inched higher Wednesday as investors analyzed earnings reports and awaited the Federal Reserve's interest rate decision. Futures for the Dow Jones Industrials nosed up 14 points, or 0.03%, to 44,830. Futures for the much broader climbed 8.25 points to 6,414.25. Futures for the NASDAQ jumped 55.25 points, or 0.2%, to 23,507.25. Starbucks shares climbed 4% after the coffee chain posted stronger-than-expected revenue for the third fiscal quarter. On the other hand, Visa slipped 2% despite quarterly results coming in better than what Wall Street expected. Shares of Meta Platforms and Microsoft were marginally higher in the premarket ahead of quarterly results due out after the closing bell. Wednesday's action follows a losing day on the Street, marking the first session of the last seven in which the S&P 500 did not close at an all-time high. The S&P 500 slid 0.3% on Tuesday, while the Dow and NASDAQ Composite lost about 0.5% and 0.4%, respectively. The major averages were weighed down as the progress of U.S. trade talks with China became shaky. U.S. negotiators ended discussions with Beijing, and the potential extension of a pause on higher China tariffs remained uncertain. A postponement of these higher rates won't be final until President Donald Trump signs off on the plan, U.S. negotiators said. Investors are awaiting the Federal Reserve's interest rate announcement Wednesday afternoon. Fed funds futures are pricing in a nearly 98% likelihood of the central bank keeping its key rate at a range of 4.25% to 4.5%. In Japan, the Nikkei 225 index dipped 0.1% Wednesday, while in Hong Kong, the Hang Seng caved 1.4% Oil prices skidded 72 cents to $68.49 U.S. a barrel.
CTV News
32 minutes ago
- CTV News
What could be in store for Edmonton's vacant Hudson's Bay spaces
Department stores closing is nothing new. It was 1993 when once-prominent western Canadian retailer Woodward's went bankrupt and closed all its locations, including four in Edmonton. Hudson's Bay acquired most of Woodward's former stores and put Bays in them, including at West Edmonton Mall, which for four years hosted two of the major anchor's locales on the east and west ends of the mall before renovating the latter space into a movie complex and smaller retail spaces. A similar scenario occurred in 1999, when local malls quickly filled the spaces vacated by Eaton's after the major Canadian retailer's bankruptcy. But that was then. More than a quarter century later, it takes longer for Edmonton's indoor shopping destinations to replace tenants in department store spaces. Hudson's Bay went out of business earlier this year, shuttering local stores in West Edmonton Mall, Southgate Centre, Kingsway Mall, Londonderry Mall and St. Albert Centre. It's been less than a month since The Bay went extinct and vacated their long-time homes – it was an original tenant at four of the remaining area sites – so it's understandable that the owners of the malls are grappling with what to do with the more than one million square feet of retail space and not already announcing plans. Spokespeople for both West Edmonton Mall and Kingsway owner Oxford Properties told CTV News Edmonton on Tuesday they don't yet have news to share on what'll replace their Hudson's Bay spots. Hudson's Bay A storefront of the vacant Hudson's Bay department store at West Edmonton Mall on July 30, 2025. (Craig Ellingson/CTV News Edmonton) Both malls have long dealt with filling retail space vacated by department stores, Kingsway as recently as 2022, when Walmart moved into its former Sears space, while a Toyota dealership relocated to the main floor of West Edmonton Mall's old Sears locale the year before to join The Brick, which had taken over the top floor of it in 2019. Montreal-based real estate firm Leyad, owner of Londonderry Mall and St. Albert Centre, and Southgate co-owners Primaris REIT and La Caisse (formerly known as Ivanhoé Cambridge) did not reply to inquiries about the future of their now-vacant Edmonton-area Bay stores. Hudson's Bay A boarded-up entrance to the Hudson's Bay department store at Edmonton's Southgate Centre on July 30, 2025. (Craig Ellingson/CTV News Edmonton) One wrinkle in the future of the spaces is the effort by B.C. billionaire Ruby Liu to acquire 25 of Hudson's Bay's leases. On Tuesday, in the latest development of the judicial saga unfolding in Ontario, the collapsed retailer asked the court to force landlords to accept Liu's bid to assume the leases, which include those in West Edmonton Mall and Southgate, in her quest to establish her own department store empire. Liu's attempt to acquire the leases will cost Liu about $69 million. The filing of the motion in Ontario Superior Court sets up a potential fight between the Bay and its various landlords. Hudson's Bay An entrance door to the vacant Hudson's Bay department store at Edmonton's Southgate Centre on July 30, 2025. (Craig Ellingson/CTV News Edmonton) The odds are that both West Ed and Kingsway will eventually fill the empty spots. They're the city's two largest malls – and in WEM's case, arguably Edmonton's biggest tourist draw – and the examples of what shopping centres do to fill vacancies in ever-turbulent retail times, given the rapid rise of online shopping and delivery from the likes of Amazon Prime, are numerous. That includes what local malls, particularly West Ed, have done over the years to fill spaces as large-format stores continue to close. Here are a few possible, realistic uses for the Bay spaces. Pickleplex A state-of-the-art, seven court pickleball facility will open at the former Sears at the Georgian Mall in Barrie, Ont. (Supplied) Pickleball courts A paddle sport that's grown in popularity over the last decade continues to increase its footprint inside malls. Pickleball court facilities have been installed in former store spaces across the U.S. and Canada in recent years. Retail strategist David Ian Gray says putting sports facilities in former department store spaces is 'one of the hot ones right now,' although he suspects such facilities will be overbuilt and 'be a problem in a number of years,' with pickleball leading the way. 'That's the trending use of that kind of space, especially when the outdoor versions carry a lot of noise that neighbours aren't too happy with,' Gray told CTV News Edmonton. 'Having something indoor and soundproof is in demand right now.' World Trade Center Retail Revival Eataly In this Aug. 15, 2016 file photo, freshly baked breads are displayed at the entrance to Eataly in New York. (AP Photo/Mark Lennihan) More dining Most malls feature a food court, but more may choose to add higher-end options and restaurants. Not unlike West Edmonton Mall's Bourbon Street, shopping centres could opt to reimagine their empty Bay spaces to accommodate more food options, Gray said. 'We're seeing a lot more advanced dining,' he said. 'Good restaurants, food courts becoming food halls in which you have good chefs operating their space, and making nicer dining environments, hoping people can come there to eat and then they'll spend some time shopping.' Retail analyst Bruce Winder said large-format grocer/restaurant concepts such as Eataly, an Italian food destination with 13 stores in the U.S. and 11 outside it, including one in Toronto, could be a fit for some malls. Flex space Both Winder and Lisa Hutcheson, the managing partner of retail consultancy firm J.C. Williams Group, say malls are booking temporary exhibits and experiences for their large, vacant spaces. Local malls such as West Edmonton Mall and Kingsway have both hosted such experiences in the past but not necessarily using a space the size of a department store. Hutcheson gave examples of pop-up roller-skating events, interactive museum/art gallery installations and product tie-ins such as the immersive World of Barbie as types of experiences seen in other places. Southgate Centre The entrance to the Dollarama store at Southgate Centre on July 30, 2025. The lower-level space was once home to a branch of the Edmonton Public Library. (Craig Ellingson/CTV News Edmonton) Libraries There are malls in the city that host libraries already – Londonderry and Abbottsfield have locations inside them, while Mill Woods Town Centre and Bonnie Doon have libraries close by in stand-alone buildings nearby – but this back-to-the-future idea makes sense as libraries and malls alike are reimagining themselves as their worlds change, Hutcheson says. 'I think we're going to start to see much more entertainment and community kind of elements,' Hutcheson told CTV News Edmonton. 'We're even seeing libraries coming back into some shopping centres as part of the community, not necessarily in downtown markets, but in more suburban (areas), because libraries are actually being reinvented as well. They're not your old library (that's) shushing everybody. They're very community-based, really interactive spaces.' Libraries once occupied space inside Edmonton malls such as Southgate, Capilano and Mill Woods Town Centre. Oakridge Mall redevelopment Redevelopment on the Oakridge Mall site in Vancouver, B.C., on Feb. 21, 2024. (Ethan Cairns/The Canadian Press) Divide up space, build something new Malls could simply do what several have done already: redevelop the Bay spaces to accommodate more retail units. It's something West Edmonton Mall did in 1999 with the old Woodward's/Bay space at the west end of the property to create the SilverCity theatre complex (now Scotiabank Theatre) and additional retail, Kingsway in 2017 with the former Target/Zellers space and Southgate in 2022 in repurposing the old Sears/Eatons/Woodwards site. Gray said this move is being made elsewhere, including downtown Vancouver's Pacific Centre, where the former Nordstrom/Sears/Eatons will be parcelled into four retail spaces. Winder said the malls could also consider tearing down the Bay spaces and building something new instead. 'What some malls are doing is they're putting condominiums,' he said. 'They're tearing down some of these areas and creating a mixed-use mall where you have a few towers in the parking lot. I've seen parking lots shrink, and they put towers in and create instant customers, if you will, who just go downstairs (to shop and access services.)' It's that kind of idea that's in proposed plans for the likes of Bonnie Doon and Mill Woods Town Centre, concepts that Winder says are a throwback to commerce of old. 'Think about shopping 200, 300 years ago – we weren't around, obviously – but that's kind of the way shopping was,' he said. 'You go to a marketplace and under one roof you have everything you need. Some people live nearby and they get food, they get entertainment, they get music, they get products. 'We're almost gravitating a bit to that sort of mixed-use marketplace. Again.'
