00:29:52 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Goldmoney Inc (2)
Symbol XAU
Shares Issued 13,808,791
Close 2023-09-19 C$ 8.96
Market Cap C$ 123,726,767
Recent Sedar Documents

Goldmoney to buy back up to 592,058 shares

2023-09-20 10:41 ET - News Release

Mr. Mark Olson 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 (NCIB) to purchase for cancellation up to 592,058 common shares of Goldmoney. The shares represent approximately 7.95 per cent of the company's public float as at Sept. 11, 2023. As at Sept. 11, 2023, the company's public float was 7,445,360 common shares and the company had 13,808,791 common shares issued and outstanding.

The NCIB will commence on Sept. 22, 2023, and will terminate on Sept. 21, 2024, or at such earlier date if the number of shares sought in the NCIB have 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 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-month period, the average daily trading volume for the common shares of Goldmoney on the TSX was 4,538 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 1,134 shares through the facilities of the TSX, representing 25 per cent 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 shares not directly or indirectly owned by the insiders of Goldmoney, in accordance with TSX policies. Goldmoney will finance the purchases through available cash.

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 3.7 million common shares for the period from Aug. 30, 2022, to Aug. 29, 2023. On Feb. 16, 2023, Goldmoney obtained TSX approval, with an effective date of Feb. 21, 2023, to amend the previous bid from 3.7 million common shares to instead purchase up to 5,487,786 common shares. No other terms of the previous bid were amended. On June 23, 2023, the company's issued and outstanding common shares were consolidated on the basis of one postconsolidation share for every five preconsolidation shares, and the maximum number of common shares purchasable under the previous bid was reduced to 1,097,557 common shares. Under the previous bid, Goldmoney repurchased 1,250,035 common shares (on a consolidated basis) at a volume-weighted average price of $8.54, 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 is a TSX-listed company invested in the real economy. The leading custodians and traders of precious metals, Goldmoney also owns and operates businesses in jewellery manufacturing, coin retailing and property investment.

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