16:48:57 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Goldmoney Inc (2)
Symbol XAU
Shares Issued 14,000,495
Close 2023-06-26 C$ 9.05
Market Cap C$ 126,704,480
Recent Sedar Documents

Goldmoney subsidiary completes $55.4M U.K. acquisition

2023-06-26 17:52 ET - News Release

Mr. Roy Sebag reports

GOLDMONEY INC. ESTABLISHES REAL ASSETS INVESTMENT STRATEGY WITH FIRST ACQUISITION OF COMMERCIAL PROPERTY IN THE UK

Further to Goldmoney Inc.'s press release of June 13, 2023, announcing the company's real assets investment strategy, the company's subsidiary Goldmoney Properties Ltd. has completed the acquisition of its first asset.

On June 26, 2023, Goldmoney Properties completed the acquisition of a landmark 219,258-(GIA)-square-foot Class A building near the Port of Southampton from Aviva Investors Lime Property Fund for consideration of 33 million pounds sterling ($55.4-million) in an all-cash transaction. Built in 2009 by a subsidiary of Land Securities Corp., the property is let to a single tenant S&P 500 company under a full repairing and insuring lease producing 2,538,933 pounds sterling ($4,270,405) of net rental income per annum. The remaining term on the lease is 15.3 years through September, 2038, with the rent increasing by a minimum of 1 per cent and a maximum of 3 per cent per annum depending on the rate of inflation as measured by the RPI index.

Statement from Roy Sebag, founder and chief executive officer of Goldmoney Inc.:

"With this acquisition, Goldmoney establishes a new inflation-protected income stream for shareholders. The purchase was financed entirely with balance sheet cash, and from the additional precious metal gains and operating cash flows we realized after the fiscal year end. We acquired this trophy asset from one of the best performing unlevered institutional property funds in the world. As rates continue to hover at levels not seen for two decades, we believe there will be further opportunities to acquire additional institutional-grade real assets thereby growing our portfolio of secure inflation-protected long-term income."

About Goldmoney Inc.

Founded in 2001, Goldmoney (TSX: XAU) is a Toronto Stock Exchange-listed company invested in the real economy. The company engages in precious metal trading and custody, precious metal coin and bar retailing, jewellery manufacturing and retailing, and property investment.

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