08:37 AM EDT, 03/27/2024 (MT Newswires) -- Mogo Inc. ( MOGO ) announced Wednesday that, pursuant to its investor rights agreement with WonderFi Technologies Inc. ( WONDF ) and the company's right thereunder to nominate one director for election to the Board of Directors of WonderFi ( WONDF ), it has nominated experienced technology and financial executive, Christoper Payne, for election to the board at WonderFi's ( WONDF ) upcoming 2024 Annual General Meeting of Shareholders.

A statement noted Mogo ( MOGO ) is WonderFi's ( WONDF ) largest shareholder, holding approximately 87 million common shares (near 13% ownership interest) of WonderFi ( WONDF ). Mogo ( MOGO ) also announced that it has entered into a voting agreement with KAOS Capital Ltd. supporting a slate of new directors at WonderFi ( WONDF ).

In addition to Mogo ( MOGO ) agreeing to support the five individuals to be put forth by KAOS Capital for election to the board at the 2024 meeting, under the voting agreement between KAOS Capital and Mogo ( MOGO ), KAOS Capital has agreed to a standstill in respect of purchasing additional securities of WonderFi ( WONDF ) to ensure that Mogo's ( MOGO ) obligations, and those of its joint actors, with respect to the standstill provisions under the IRA are complied with, ensuring that Mogo's ( MOGO ) history of full compliance with its obligations under the IRA to-date continues through to the 2024 Meeting.