CoinSmart also believes there may be reason to suspect that a potential transaction with another Canadian crypto player, WonderFi Technologies Inc., may have affected its deal with Coinsquare
NEO Exchange-listed CoinSmart for about $29-million in cash and shares. The deal was expected to be finalized by the end of 2022, but Coinsquare announced it was pulling out ofOn Tuesday, CoinSmart said it will “vigorously contest” Coinsquare’s move to terminate the deal, saying its notice “is invalid and without merit.”
But Coinsquare said it has a contractual right to terminate the agreement, which the company claims it validly exercised. “We cannot comment on whether CoinSmart was taken by surprise,” Mr. Richmond said. “CoinSmart understood Coinsquare’s concerns that had to be addressed.”
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