Mr. Roy Sebag reports

GOLDMONEY INC. REPORTS FINANCIAL RESULTS FOR THIRD QUARTER OF FISCAL 2024 FOR THE PERIOD ENDING IN DECEMBER 31, 2023

Goldmoney Inc. has released its financial results for the financial quarter ended Dec. 31, 2023.

Financial highlights:

• Group tangible equity of $147.1-million, an increase of $4-million, or 3 per cent year-over-year (YoY);
• Group tangible equity per share increased to $10.94 from $9.63, an increase of $1.31 per share, or 14 per cent YoY;
• Gold-adjusted tangible equity per Goldmoney share of 0.125 gram, an increase of 14 per cent YoY;
• Repurchased a total of 122,800 common shares at an average purchase price of $7.97 during the quarter. Additionally, 212,600 shares and 280,000 warrants were cancelled in relation to the divestiture of Schiff Gold LLC. In total, the company's share count was reduced by over 2 per cent during the quarter;
• Quarterly operating income of $7.4-million, an increase of 53 per cent YoY;
• Net income of $6-million, a decrease of 42 per cent YoY versus Q3 2023, which included an $8.2-million revaluation gain from precious metals;
• Adjusted net income of $6-million, an increase of 73 per cent YoY;
• Basic earnings per share of 44 cents;
• Goldmoney.com group client assets of $2.1-billion as at Dec. 31, 2023;
• The company sold its wholly owned subsidiary Schiff Gold in December, 2023.

Statement from Roy Sebag, chief executive officer of Goldmoney:

"In the third quarter of fiscal year 2024, Goldmoney Inc. produced $6-million in IFRS (international financial reporting standards) net income and $6-million of non-IFRS adjusted net income. This is our ninth-consecutive quarter of profitability under the non-IFRS adjusted income metric, which excludes non-cash items such as precious metal and FX [foreign exchange] movements, as well as depreciation and stock compensation.

"Our precious metals business continued to perform well, producing $3.8-million of quarterly operating income. This result reflects the disciplined cost-savings measures that were implemented over the past two years. These measures have become more visible in our operating results and will continue to positively impact our precious metals earnings over the remainder of the fiscal year. With the SchiffGold business now fully divested, it is also easier for shareholders to compute the long-run earnings power inherent to our core Goldmoney.com precious metals business.

"Our property investment business produced $3-million quarterly operating income and $2.7-million of net income, reflecting the ownership of our three investment properties at quarter-end. This business segment, conducted through Goldmoney Properties Ltd., has substantially transformed our group's earnings power by introducing another long-term income stream. At quarter-end, our property portfolio had an average remaining lease term of 14.75 years. Consequently, Goldmoney Properties is expected to contribute significant inflation-indexed cash flows to Goldmoney Inc. over the next decade and beyond. Perhaps more importantly, we believe that the three investment properties acquired from June, 2023, to December, 2023, have intrinsic value in excess of the remaining contractual income. This is because each of the properties serves a mission-critical purpose within the built-up environment, either to the local community or the tenants who occupy them.

"At the parent level, we shall continue to act prudently and, when opportunities arise, intend to redeploy the cash flows generated by our two core businesses. At this juncture, the options are rather clear: (i) further share repurchases at the parent level; (ii) precious metals purchases at the parent level; (ii) accelerated mortgage principal repayment at GPL; (iii) further acquisitions of investment property at GPL; and (iv) other capital investment activities at the parent level.

"At Mene, our 24-karat jewellery business, the new management team continues the important work in reforming the business model for renewed sustainable growth. Shareholders should look to Mene's earnings release for a more comprehensive update from the company's CEO. The entire Goldmoney board supports the long-term strategic plan being executed by management and is pleased with the results thus far. Mene repaid in Q3 2024 the full balance of precious metal loans owed to Goldmoney Inc.

"Goldmoney repurchased 122,800 shares of the company during the quarter. Additionally, 212,600 shares were cancelled due to the divestiture of Schiff Gold. In total, 335,400 shares were cancelled during the quarter, resulting in shares outstanding of 13,449,000 on Dec. 31, 2023. Since quarter-end, the company has repurchased and cancelled a further 151,300 shares, resulting in 13,306,350 shares outstanding as of Feb. 1, 2024."

Financial information and IFRS standards

The selected financial information included in this release is qualified in its entirety by, and should be read together with, the company's consolidated financial statements for the quarter and fiscal year ended March 31, 2023, and prepared in accordance with international financial reporting standards, and the corresponding management's discussion and analysis, which are available under the company's profile on SEDAR+.

About Goldmoney Inc.

Founded in 2001, Goldmoney is a Toronto Stock Exchange-listed company invested in the real economy. The leading custodians and traders of precious metals, Goldmoney also owns and operates businesses engaged in property investment and jewellery manufacturing.

We seek Safe Harbor.