(TSX: XGD) (“Goldmoney” or the “Company”), a leading provider of digital asset management solutions, today announced that it has signed a definitive agreement to acquire the assets of Canadian Securities Regulatory Authority (CSRA) member firm, Toronto-based Fintech Solutions Inc. (“Fintech”). The acquisition marks a significant milestone for Goldmoney, strengthening its position as a leading player in the Canadian digital asset landscape.
Goldmoney is acquiring a significant portion of the outstanding shares of a publicly traded company. Goldmoney will purchase these shares on the open market through various trading platforms, including the Toronto Stock Exchange (TSX) and alternative Canadian trading systems. The company will cancel the shares it acquires.
The Board of Directors believes the underlying value of Goldmoney may not be reflected in the market price of its common shares from time to time and that, at appropriate times, repurchasing the Shares through the NCIB may represent a good use of Goldmoney’s financial resources, as such action can protect and enhance shareholder value when opportunities or volatility arise. Therefore, the Board of Directors has determined that the NCIB is in the best interest of Goldmoney and its shareholders. Goldmoney obtained TSX approval for a previous notice of intention to conduct a normal course issuer bid to purchase up to 592,058 common shares for the period from September 22, 2023 to September 21, 2024 (the “Previous Bid”). On February 14, 2024, Goldmoney obtained TSX approval, with an effective date of February 20, 2024, to amend the Previous Bid from 592,058 common shares to instead purchase up to 744,536 common shares. No other terms of the Previous Bid were amended. Under the Previous Bid, as amended, Goldmoney repurchased 744,500 common shares at a volume weighted average price of $8.10 through the facilities of the TSX as well as on alternative Canadian trading systems at prevailing market rates.
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 in jewelry manufacturing, coin retailing, and property investment. 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.
The company is considering a new share buyback program. This program, known as the NCIB (Normal Course Issuer Bid), would allow the company to repurchase its own shares. The company believes that the NCIB is advantageous to shareholders and that the underlying value of the company may not be reflected in the market price of its common shares. The company is also considering whether it will purchase any common shares under the NCIB.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223634 SOURCE: GoldMoney Inc.
