Key 3Q25 takeaways include: 1) management remains proactive in continuing to broaden the franchise, with the launch sovereign debt vehicles wherein coupon payments convert into Bitcoin within ETPs issued by Valour, investments in local companies in Canada and Africa to support the development of regulated stablecoin frameworks, ongoing engagements for DeFi Advisory's DAT solutions, and the development of an institutional dark trading pool for digital assets 2) Valour launched 23 new ETPs on the Spotlight Stock Market to further expand the company's product suite 3) DEFT recently raised $100M from the sale of 45.7M shares of common stock at $2.19/share to institutional investors, with the proceeds earmarked for funding new business initiatives, seeding new ETPs, financing trading/lending/staking transactions, and/or capitalizing on incremental M&A opportunities and 4) the company announced the initiation of a Normal-Course Issuer Bid (NCIB) stock buyback program in late August to efficiently capitalize on market dislocations and/or return excess capital to shareholders.
