Goldmoney Inc. Announces Approval to Amend Normal Course Issuer Bid

Toronto, Ontario--(Newsfile Corp. - February 14, 2024) - Goldmoney Inc. (TSX: XAU) (US: XAUMF) ("Goldmoney" or the "Company") announced today that the Toronto Stock Exchange (the "TSX") has accepted the notice filed by the Company to amend its normal course issuer bid ("NCIB"). The amendment is effective as of February 20, 2024, and increases the maximum number of common shares (the "Common Shares") of the Company that may be repurchased, from 592,058 Common Shares representing approximately 7.95% of the Company's 'public float' as at September 11, 2023, to 744,536 Common Shares, representing approximately 10% of the Company's 'public float' as at September 11, 2023. No other terms of the NCIB have been amended.

Under the policies of the TSX, Goldmoney will have the right to repurchase under its NCIB, during any one trading day, a maximum of 1,134 Shares through the facilities of the TSX, representing 25% of the average daily trading volume. Notwithstanding the foregoing, Goldmoney is permitted to repurchase greater than 1,134 Shares during any one trading date only if such repurchases that are in excess of 1,134 Shares are made on alternative Canadian trading systems. In addition, Goldmoney will be allowed to make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) of Common Shares not directly or indirectly owned by the insiders of Goldmoney, in accordance with TSX policies. Goldmoney will fund the purchases through available cash.

Purchases under the NCIB began on September 22, 2023 and will terminate no later than September 21, 2024, and are made by way of normal course purchases effected through the facilities of the TSX or alternative Canadian trading systems. Goldmoney reserves the right to terminate the NCIB earlier if it feels that it is appropriate to do so. Under its current NCIB, as of February 6, 2024, the Company has repurchased 495,800 Common Shares, at a weighted-average price of $8.18.

In deciding to amend the NCIB, the Board of directors believes that the market price of the Common Shares may not, from time to time, fully reflect their long-term value. Accordingly, the purchase of the Common Shares under the amended NCIB is in the best interests of the Company and an attractive and appropriate use of available funds. Although the Company has a present intention to acquire its Common Shares pursuant to the NCIB, the Company will not be obligated to make any purchases and purchases may be suspended by the Company at any time.

About Goldmoney Inc.

Founded in 2001, Goldmoney (TSX: XAU) is a TSX listed company invested in the real economy. The leading custodians and traders of precious metals, Goldmoney Inc. also owns and operates businesses engaged in property investment and jewellery manufacturing. For more information about Goldmoney, visit goldmoney.com.

Forward‐Looking Statements

This news release contains or refers to certain forward‐looking information 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. (the "Company") 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: statements about the board of directors of the Company's belief that the NCIB is advantageous to shareholders and that underlying value of the Company may not be reflected in the market price of the common shares and whether the Company will purchase any common shares under the NCIB. 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 limited 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 impact and spread of infectious diseases, including COVID-19; 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; 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. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

Contacts

Media and Investor Relations inquiries:

Mark Olson
Chief Financial Officer
Goldmoney Inc.
+1 647 250 7098

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197814