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”) at the moment 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 the moment scheduled for March 17, 2025 (the “Annual Assembly”).

Primarily based on publicly obtainable data, the Nominating Shareholders imagine that the seats of two Class I administrators will likely be up for election on the Annual Assembly. The primary seat is at the moment 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 Companion of Kensington Service provider Companions, an funding administration and company improvement advisory enterprise targeted 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 the moment 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 crew member of funding financial institution BTIG.  Mr. Abbate at the moment serves as an advisor to Determine Markets Holdings, Inc. (“Determine Markets”) and is a seasoned investor within the bitcoin mining, AI information middle and power infrastructure industries. As a former Managing Companion 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 belongings 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 offer liquidity for stakeholders within the close to time period – targets that the present Board beneath Chairwoman LaPuma has failed to realize. The Nominating Shareholders strongly imagine that Messrs. Wiener and Abbate will work tirelessly to realize these targets and can finest characterize 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 truthful election, the place all the 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 checklist, which is required with a purpose to successfully solicit shareholder votes on the Annual Assembly. The Nominating Shareholders additionally search a Court docket order waiving the quorum requirement. It will forestall 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 will likely be held on March 11, 2025.

Ionic Digital shareholders will possible 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 cellphone 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 unintentionally revoking any proxy card returned to the Nominating Shareholders.

That is the prospect for shareholders to lastly have their voices heard. Extra data on how precisely to vote for the Nominating Shareholders’ nominees will likely be distributed as quickly as it’s obtainable.

“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 have 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 stay up for garnering the group’s help in bringing actual change to Ionic Digital.

About Determine Markets

Determine Markets is democratizing finance by blockchain know-how, making a decentralized market for numerous asset courses, together with crypto, shares, bonds, and credit score. The platform goals to empower members with management over their belongings, 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 Leap 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 data, customers can go to www.figuremarkets.com.

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