01:29:10 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Goldmoney Inc
Symbol XAU
Shares Issued 76,779,427
Close 2018-03-05 C$ 3.83
Market Cap C$ 294,065,205
Recent Sedar Documents

Goldmoney to buy back up to three million shares

2018-03-05 10:35 ET - News Release

Mr. Josh Crumb reports

GOLDMONEY INC. ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Goldmoney Inc.'s notice of intention to make a normal course issuer bid to purchase for cancellation three million common shares of Goldmoney, representing 3.9 per cent of the issued and outstanding common shares as at March 2, 2018.

As of March 2, 2018, Goldmoney had 76,779,427 common shares issued and outstanding.

The NCIB will commence on March 7, 2018, and will terminate on March 6, 2019, or at such earlier date in the event that the number of shares sought in the NCIB has been repurchased. Goldmoney reserves the right to terminate the NCIB earlier if it feels that it is appropriate to do so.

All shares will be purchased on the open market through the facilities of the TSX as well as on alternative Canadian trading systems at prevailing market rates and any common shares purchased by Goldmoney will be cancelled. The actual number of shares that may be purchased and the timing of any such purchases will be determined by Goldmoney. Any purchases made by Goldmoney pursuant to the NCIB will be made in accordance with the rules and policies of the TSX.

During the most recently completed six months, the average daily trading volume for the common shares of Goldmoney on the TSX was 162,941 common shares. Consequently, under the policies of the TSX, Goldmoney will have the right to repurchase under its NCIB, during any one trading day, a maximum of 40,735 shares, representing 25 per cent of the average daily trading volume. 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 shares not directly or indirectly owned by the insiders of Goldmoney, in accordance with TSX policies. Goldmoney will finance the purchases through available cash. In the previous 12 months, Goldmoney has not repurchased any of its outstanding common shares.

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 its 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 three million common shares for the period of Dec. 15, 2016, to Dec. 14, 2017. Goldmoney did not make any purchases of its common shares between the period of Dec. 15, 2016, and Dec. 14, 2017.

About Goldmoney Inc.

Goldmoney, a financial service company traded on the Toronto Stock Exchange, is a global leader in precious metal investment services and the world's largest precious metal payment network. Safeguarding $1.8-billion in assets for clients located in more than 150 countries, Goldmoney is focused on a singular mission to make precious-metal-backed savings accessible to all. Powered by Goldmoney's patented technology, the Goldmoney Holding is an on-line account that enables clients to invest, earn or spend gold, silver, platinum, palladium and cryptocurrencies that are securely stored in insured vaults in seven countries. All bullion assets are fully allocated and physically redeemable property.

We seek Safe Harbor.

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