Goldmoney Announces Distribution of Menē
Shares
Goldmoney Inc. (TSX:XAU) (“Goldmoney”), a precious metal
financial service and technology company, wishes to congratulate
the entire team at Menē Inc. (“Menē” or “Mene”), a luxury
e-commerce 24 karat investment jewelry brand, for their
achievements as Menē commences trading today on the TSX Venture
Exchange under the ticker symbol, “MENE”.
Goldmoney is pleased to announce that its Board of Directors
will declare a distribution of 3,990,000 class B subordinate voting
shares of Menē (the “Shares”) from its holdings to the shareholders
of Goldmoney on a pro rata basis. A further announcement will be
made with details of the record date and the payment date.
Goldmoney currently holds 79,800,000 class B subordinate shares
of Menē representing 36.7% of the issued and outstanding shares of
Menē on a non-diluted basis. The distribution of the Shares to
Goldmoney shareholders represents the first escrow release pursuant
to the escrow requirements of the TSX Venture Exchange. Goldmoney
will make further announcements should the Board of Directors
determine to make additional distributions of its Menē class B
subordinate voting shares.
Menē was founded by Goldmoney’s co-founder and CEO Roy Sebag and
art historian Diana Widmaier Picasso, with the mission to restore
the ancient tradition of jewelry as a store of enduring value. With
a combination of innovative technology, timeless design and radical
transparency, Menē has rapidly become a sensation within the global
fashion and luxury market in near record time. In less than 10
months, Menē has emerged as the leader in “Investment Jewelry” –
changing the paradigm from discretionary jewelry purchases to
precious metal investment.
Goldmoney and Menē have developed a mutually beneficial working
relationship through a strategic growth platform that creates value
for both companies. Goldmoney has provided key support to every
aspect of Menē, from an initial $2 million venture funding to
develop the vision for investment jewelry, to the strategic support
provided in the long-term supply arrangement through which
Goldmoney supplies the gold and platinum used by Menē in
fabricating its diverse portfolio of jewelry products.
“Menē is consistent with Goldmoney’s mission, which is to
provide convenient, economical, and safe online access to gold,”
said Goldmoney Lead Director James Turk. “This stock distribution
enables Goldmoney shareholders to benefit from Goldmoney’s close
relationship with Menē.”
“On behalf of the entire Goldmoney team, we wish the Menē team
continued success as they look to grow and scale into to a
formidable global jewelry brand,” said Josh Crumb, Chief Strategy
Officer. “As an independent company, Menē will enjoy increased
flexibility to pursue new partnership and growth opportunities, and
the market capitalization fitting for this stage of scaling a
disruptive, technology-enhanced direct-to-consumer brand.”
To learn more about Menē and its mission, visit
www.Mene.com.
Here is to Menē’s bright future.
About Goldmoney Inc.
Goldmoney Inc., a financial service company traded on the
Toronto Stock Exchange (TSX:XAU), is a global leader in precious
metal investment services and the world’s largest precious metals
payment network. Safeguarding nearly $2 billion in assets for
clients located in more than 150 countries, Goldmoney is focused on
a singular mission to make precious metals-backed savings
accessible to all. Powered by Goldmoney’s patented technology, the
Goldmoney® Holding is an online 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. Goldmoney Wealth Limited is
regulated by the Jersey Financial Services Commission (JFSC) as a
Money Services Business. Goldmoney Network is a reporting entity to
the Financial Transactions and Reports Analysis Centre of Canada
(FINTRAC), and is registered with the Financial Crimes Enforcement
Network (FinCEN) in the U.S. For more information about Goldmoney,
visit goldmoney.com.
About Menē Inc.
Menē crafts pure 24 karat gold and platinum jewelry that is
transparently sold by gram weight. Through Mene.com customers
may buy jewelry, monitor the value of their collection over time,
and sell or exchange their pieces by gram weight at prevailing
market prices. Menē was founded by Roy Sebag and Diana
Widmaier-Picasso with a mission to restore the relationship between
jewelry and savings. Menē empowers consumers by marrying
innovative technology, timeless design, and pure precious
metals to create pieces which endure as a store of value.
For more information about Menē, visit mene.com.
Forward-Looking Statements
This news release contains or refers to certain forward-looking
information. Forward-looking information can often be identified by
forward-looking words such as “anticipate”, “believe”, “expect”,
“plan”, “intend”, “estimate”, “may”, “potential” and “will” or
similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements
about future events or performance. All information other than
information regarding historical fact, which addresses activities,
events or developments that the Goldmoney Inc. (the “Company”)
believes, expects or anticipates will or may occur in the future,
is forward looking information. Forward-looking information does
not constitute historical fact but reflects the current
expectations the Company regarding future results or events based
on information that is currently available. By their nature,
forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, forecasts,
projections and other forward-looking information will not occur.
Such forward-looking information in this release speak only as of
the date hereof.
Forward-looking information in this release includes, but is not
limited to, statements with respect to: service times for
transactions on the Goldmoney network; growth of the Company’s
business, expected results of operations, and the market for the
Company’s products and services and competitive conditions. This
forward-looking information is based on reasonable assumptions and
estimates of management of the Company at the time it was made, and
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others:
the Company’s operating history; history of operating losses;
future capital needs and uncertainty of additional financing;
fluctuations in the market price of the Company’s common shares;
the effect of government regulation and compliance on the Company
and the industry; legal and regulatory change and uncertainty;
jurisdictional factors associated with international operations;
foreign restrictions on the Company’s operations; product
development and rapid technological change; dependence on technical
infrastructure; protection of intellectual property; use and
storage of personal information and compliance with privacy laws;
network security risks; risk of system failure or inadequacy; the
Company’s ability to manage rapid growth; competition;
effectiveness of the Company’s risk management and internal
controls; use of the Company’s services for improper or illegal
purposes; uninsured and underinsured losses; theft & risk of
physical harm to personnel; precious metal trading risks; and
volatility of precious metals prices & public interest in
precious metals investment; and those risks set out in the
Company’s most recently filed annual information form, available on
SEDAR. Although the Company has attempted to identify important
factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation
to update or revise any forward-looking information, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181106005473/en/
Media and Investor Relations Inquiries:
Renee WeiDirector of Global CommunicationsGoldmoney
Inc.renee.wei@goldmoney.com
Josh CrumbChief Strategy OfficerGoldmoney Inc.+1
647-499-6748
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