EX-99.39 40 ea021243501ex99-39_defi.htm DECISION DOCUMENT (PRELIMINARY) DATED JULY 4, 2023

Exhibit 99.39

| Ontario Securities Commission | Commission des valeurs mobilières de l’Ontario | 22nd Floor 20 Queen Street West Toronto ON M5H 3S8 | 22e étage 20, rue queen ouest Toronto ON M5H 3S8

RECEIPT

Valour Inc. (formerly DeFi Technologies Inc.)

This is the receipt of the Ontario Securities Commission for the Preliminary Base Shelf Prospectus of the above Issuer dated June 30, 2023 (the preliminary prospectus).

The preliminary prospectus has been filed under Multilateral Instrument 11-102 Passport System in British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Northwest Territories, Yukon and Nunavut. A receipt for the preliminary prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the Instrument have been satisfied.

July 4, 2023

| /s/ Winnie Sanjoto
| Winnie Sanjoto
| Director, Corporate Finance Branch
| SEDAR Project # 3557443