Toronto, Ontario–(Newsfile Corp. – February 22, 2023) – Goldmoney Inc. (TSX: XAU) (US: XAUMF) (“Goldmoney” or the “Company”), a precious metal financial service and technology company, today announced that it has made two block purchases of Common Shares under its normal course issuer bid (the “NCIB”).
The Company made a block purchase of 1,920,800 Common Shares on February 17, 2023 at a price of $1.70 per Common Share. The Company made a second block purchase of 2,094,559 Common Shares on February 21, 2023 at a price of $1.60 per Common Share. The purchased Common Shares will be cancelled on February 28, 2023, along with an additional 57,300 Common Shares purchased under the NCIB in February.
Since the NCIB began on August 30, 2022, the Company has purchased 4,847,373 Common Shares for cancellation, representing 6.5% of the Common Shares outstanding at that time. The NCIB has reduced the Company’s current shares issued and outstanding to a total of 74,055,232 Common Shares as of the date of this news release, and 69,982,573 Common Shares effective February 28, 2023.
The NCIB will expire no later than August 29, 2023.
About Goldmoney Inc.
Goldmoney Inc. (TSX: XAU) is a precious metal-focused global business. Through its ownership of various operating subsidiaries, the Company is engaged in precious metal sales to its clients, including arranging delivery and storage of precious metals for its clients and coin retailing. Goldmoney clients located in over 100 countries hold over $2.1 billion in precious metal and fiat currency assets. The Company’s operating subsidiaries include: Goldmoney.com, SchiffGold.com and Totenpass. In addition to the Company’s principal business segments, the Company holds a significant interest in Menē Inc., which crafts pure 24-karat gold and platinum investment jewelry that is sold by gram weight. Through these businesses and other investment activities, Goldmoney gains long-term exposure to precious metals. For more information about Goldmoney, visit goldmoney.com.
Media and Investor Relations inquiries:
Director of Global Communications
Chief Financial Officer
+1 647 250 7098
This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “may”, “potential” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not limited to, statements with respect to: the expected cancellation of shares of the Company, and the anticipated expiry date of the Company’s normal course issuer bid. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company’s operating history; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company’s common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company’s operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company’s ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; effectiveness of the Company’s risk management and internal controls; use of the Company’s services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company’s most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.
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