Mar 2, 2020   SOURCE: PR NewsWire

Voyager Digital Reports Fiscal 2020 Second Quarter Results And Provides Business Update

Grows Customer Base to Over 200,000 Global Users Across Voyager Platforms and Increases Trading Volume by Over 900% Since Year End

NEW YORK, March 2, 2020 /PRNewswire/ -- Voyager Digital Canada, Ltd. ("Voyager" or the "Company") (CSE:VYGR; OTCQB:VYGVF; FRA:UCD2), operator of U.S. digital asset broker Voyager and the Ethos Universal Wallet, today announced it has filed its unaudited interim consolidated financial statements and MD&A for the three and six months ended December 31, 2019. The Company is also pleased to provide shareholders with a business and operational update as of February 29, 2020.

"We are pleased to report our growth has accelerated dramatically since the beginning of the year," said Stephen Ehrlich, CEO and Co-Founder of Voyager. "We have experienced rapid account growth in 2020, driven by API distribution partnerships with leading market participants, the Voyager App's availability now for Android, and our recent announcement of the acquisition of the Circle Invest accounts. Since December 31, 2019, we have increased our trading volume by over 900%. Looking ahead, the growing market adoption of digital assets, our increased distribution channels and market penetration, give us confidence in a revenue ramp over the next 12-18 months. This will be driven by continued account growth and the growing demand for our state-of-the-art digital trading infrastructure."

Operational Milestones 

    --  Servicing over 200,000 global users across Voyager platforms as of
        February 29, 2020
    --  Grew number of customer funded accounts by 30% for the three months
        ended December 31, 2019, and by 25% for the two-month period from
        December 31, 2019 to February 29, 2020
    --  Increased number of Know Your Customer ("KYC") compliant accounts by 56%
        for the three months ended December 31, 2019, and by 27% for the
        two-month period from December 31, 2019 to February 29, 2020
    --  Grew customer assets by 95% for the three months ended December 31,
        2019, and approximately 150% for the two-month period from December 31,
        2019 to February 29, 2020

Business Updates

    --  Entered into definitive agreement to acquire the Circle Invest accounts,
        the retail digital asset business from Circle Internet Financial, Inc.
        which will add over 40,000 retail accounts to customer base, making it
        one of the largest digital-asset-only agency brokers in the U.S.
    --  Listed three new stablecoins on the Voyager Platform, Tether (USDT), USD
        Coin (USDC), and True USD (TUSD)
    --  Completed the full deployment and release of the Android app
    --  Consummated the acquisition of registered broker-dealer VYGR Digital
        Securities, LLC
    --  Extended the Voyager Interest Program, offering 5% interest on Bitcoin,
        6% on USDC Stablecoin, and interest on 6 other digital assets held on
        the Voyager platform

Upcoming Milestones
Voyager expects to execute on the following key initiatives during calendar year 2020, including:

    --  Integrate all of Circle Stablecoin platform services into its service
        offerings
    --  International expansion to facilitate trading in multiple foreign
        countries
    --  Obtain BitLicense from the New York State Department of Financial
        Services (NYSDFS), a business license for virtual currency activities
    --  Continued expansion of API distribution partnerships
    --  Expansion of Interest program to cover additional assets
    --  Expansion of additional digital assets to the platform

Mr. Ehrlich added, "As we move ahead in calendar year 2020, we expect to keep expanding our platform's capabilities to enhance the user experience. As the first publicly traded, licensed crypto broker, we consider it is our mandate to provide a secure, premium platform to buy and trade crypto assets. We already have made substantial progress and look forward to updating our shareholders in the coming year as we continue to execute."

Selected Results of Operations
(Expressed in United States Dollars)
(Unaudited)


                                   Three months ended     Six months ended



                   Description        Dec 31, 2019          Dec 31, 2018        Dec 31, 2019       Dec 31, 2018
                               
     
           
              $ 
     
         
              $  
     
     
              $   
     
     
              $

    ---


       Revenue                                88,146                20,587            160,376              20,587

    ---

        Total operating
         expenses                         (2,740,392)          (1,588,810)       (5,364,461)        (3,087,710)

    ---

        Net loss for the
         period                             (980,130)          (1,580,723)       (3,498,411)        (3,079,623)

    ---

        Basic and
         diluted net
         loss per share                        (0.01)         
            n/a            (0.05)       
            n/a

    ---

For further information, please refer to the Company's Management's Discussion and Analysis for the three and six months ended December 31, 2019, available via SEDAR at www.sedar.com.

About Voyager Digital (Canada) Ltd.
Voyager Digital (Canada) Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent and cost-efficient alternative for trading crypto-assets to the marketplace. Please visit us at https://www.investvoyager.com for more information and to review the latest Corporate Presentation.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.

Cautionary Statement Regarding Forward-Looking Information: The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.

Voyager Digital (Canada) Ltd. Contacts
Media:
Anthony Feldman / Raquel Cona
(347) 487-6194 / (212) 682-6300
afeldman@kcsa.com / rcona@kcsa.com

Investor Relations:
Phil Carlson / Scott Eckstein
(212) 896-1233 / (212) 896-1210
pcarlson@kcsa.com / seckstein@kcsa.com

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SOURCE Voyager Digital