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Goldmoney Inc (2)
Symbol XAU
Shares Issued 13,191,150
Close 2024-09-17 C$ 9.10
Market Cap C$ 120,039,465
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Goldmoney to buy back up to 864,862 shares

2024-09-18 09:14 ET - News Release

Mr. Sean Ty reports

GOLDMONEY INC. ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange (TSX) has accepted Goldmoney Inc.'s notice of intention to make a normal course issuer bid (NCIB) to purchase for cancellation up to 864,862 common shares of Goldmoney. The shares represent approximately 10 per cent of the company's public float as at Sept. 9, 2024. As at Sept. 9, 2024, the company's public float was 8,648,627 common shares and the company had 13,191,150 common shares issued and outstanding.

The NCIB will commence on Sept. 23, 2024, and will terminate on Sept. 22, 2025, 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.

Under the policies of the TSX, Goldmoney will have the right to repurchase under its NCIB, during any one trading day, a maximum of 2,994 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 2,994 shares during any one trading day only if such repurchases that are in excess of 2,994 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 592,058 common shares for the period from Sept. 22, 2023, to Sept. 21, 2024. On Feb. 14, 2024, Goldmoney obtained TSX approval, with an effective date of Feb. 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 is invested in the real economy. The leading custodian and trader of precious metals, Goldmoney also owns and operates businesses in jewellery manufacturing, coin retailing and property investment.

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