Concerned Shareholders Nominate Two Highly-Qualified Candidates for Election to Ionic Digital’s Board of Directors

[PRESS RELEASE – San Francisco, USA, February 18th, 2025]

• Urge Shareholders NOT to Return any Proxy Card or Supplies Acquired from the Firm
• Touch upon their Pending Litigation towards Ionic Digital within the Court docket of Chancery for the State of Delaware

Three shareholders of Ionic Digital Inc. (“Ionic Digital” or the “Firm”), Tony Vejseli, Chris Villinger and Brett Perry (collectively, the “Nominating Shareholders”) right now introduced that they’ve nominated two extremely certified candidates for election to the Firm’s Board of Administrators (the “Board”) at its upcoming annual assembly of shareholders at present scheduled for March 17, 2025 (the “Annual Assembly”).

Based mostly on publicly out there info, the Nominating Shareholders imagine that the seats of two Class I administrators shall be up for election on the Annual Assembly. The primary seat is at present held by the Chairwoman of the Board, Elizabeth La Puma, and the second seat is vacant. The Firm has not but publicly introduced its slate of director candidates for the Annual Assembly.

The Nominating Shareholders have nominated Oliver Wiener and Michael Abbate as administrators to the Board. Mr. Wiener is a Founder and Managing Associate of Kensington Service provider Companions, an funding administration and company improvement advisory enterprise centered on Financials, Fintech, Insurance coverage, Insuretech and Blockchain verticals, and has over 20 years of economic and funding expertise, with a spotlight within the know-how, blockchain and fintech industries. Mr. Wiener at present serves on the board of administrators of Chain Bridge I, a publicly traded SPAC, and The Nationwide Safety Group, Inc., an insurance coverage holding firm. Mr. Wiener is a founding staff member of funding financial institution BTIG.  Mr. Abbate at present serves as an advisor to Determine Markets Holdings, Inc. (“Determine Markets”) and is a seasoned investor within the bitcoin mining, AI knowledge heart and vitality infrastructure industries. As a former Managing Associate of NovaWulf Digital Administration, LP, Mr. Abbate led the stalking horse bid within the Celsius Community LLC chapter and is intimately conversant in Ionic Digital’s property and the Firm’s present enterprise construction. As well as, Mr. Abbate has over 20 years of expertise in advanced company restructuring.

The Nominating Shareholders stay dedicated to enhancing transparency, effectivity and accountability round Ionic Digital’s monetary and operational metrics and search to supply liquidity for stakeholders within the close to time period – targets that the present Board beneath Chairwoman LaPuma has failed to attain. The Nominating Shareholders strongly imagine that Messrs. Wiener and Abbate will work tirelessly to attain these aims and can greatest symbolize the pursuits of all Firm shareholders.

Given the distinctive nature of Ionic Digital’s shareholder base, spanning over eighty thousand people throughout the globe, the Nominating Shareholders have been working with Determine Markets and GXD Labs LLC (“GXD Labs”) to assist effectuate change to the Firm’s Board. Determine Markets and GXD Labs have agreed to bear all prices in reference to the Nominating Shareholders’ solicitation of shareholders, together with the nominations.

The Nominating Shareholders are additionally dedicated to a free and honest election, the place the entire Firm’s shareholders have an actual alternative in who represents them within the boardroom. To that finish, on February 10, 2025, the Nominating Shareholders filed a criticism towards the Firm within the Court docket of Chancery of the State of Delaware (the “Court docket”), requesting that the Court docket compel the Firm to share its shareholders listing, which is required so as to successfully solicit shareholder votes on the Annual Assembly. The Nominating Shareholders additionally search a Court docket order waiving the quorum requirement. This can stop the Board from adjourning the Annual Assembly and entrenching themselves if the Firm slate fails to get adequate votes. A listening to on these issues shall be held on March 11, 2025.

Ionic Digital shareholders will probably be receiving, or have already obtained, proxy supplies from the Firm. The Nominating Shareholders urge different shareholders NOT to signal or vote any proxy playing cards obtained from the Firm – whilst a protest vote. Solely the latest-dated vote counts; if shareholders have already voted the Firm’s proxy card or offered their vote to the proxy solicitor over the telephone or on-line, a later-dated vote on the Nominating Shareholders’ proxy card will revoke your prior vote. The Nominating Shareholders encourage all shareholders NOT to return the Firm’s proxy card to keep away from by chance revoking any proxy card returned to the Nominating Shareholders.

That is the possibility for shareholders to lastly have their voices heard. Extra info on how precisely to vote for the Nominating Shareholders’ nominees shall be distributed as quickly as it’s out there.

“The present board members of Ionic Digital weren’t chosen by the shareholders. As a substitute of embracing a contemporary begin following Ionic Digital’s emergence from the Celsius chapter, the board continues to function because it did in Chapter 11. Throughout the chapter proceedings, shareholders had been promised a number one position within the new firm. It’s time to honor that promise by permitting shareholders to appoint the leaders they need for Ionic Digital,” mentioned Tony Vejseli, Shareholder.

The Nominating Shareholders sit up for garnering the group’s assist in bringing actual change to Ionic Digital.

About Determine Markets

Determine Markets is democratizing finance via blockchain know-how, making a decentralized market for various asset lessons, together with crypto, shares, bonds, and credit score. The platform goals to empower members with management over their property, leveraging blockchain to interchange conventional intermediaries and supply a seamless expertise with enhanced leverage, liquidity, and borrowing choices.

Backed by main enterprise capital and strategic companions reminiscent of Soar Crypto, Pantera, Distributed World, Faction Lightspeed, NewForm Capital, and CMT Digital, Determine Markets is led by skilled professionals from conventional finance, fintech, and DeFi, together with co-founders Mike Cagney and June Ou.

For extra info, customers can go to www.figuremarkets.com.

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