TORONTO, March 05, 2018 (GLOBE NEWSWIRE) -- Goldmoney Inc. (TSX:XAU) (“Goldmoney” or the “Company”) announces acceptance by the Toronto Stock Exchange (the "TSX") of Goldmoney’s Notice of Intention to make a normal course issuer bid (the "NCIB") to purchase for cancellation 3,000,000 common shares of Goldmoney, representing 3.9% of the issued and outstanding common shares as at March 2, 2018.  

As of March 2, 2018, Goldmoney had 76,779,427 common shares issued and outstanding.

The NCIB will commence on March 7, 2018 and will terminate on March 6, 2019 or at such earlier date in the event that the number of shares sought in the NCIB has 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 common 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 months, the average daily trading volume for the common shares of Goldmoney on the TSX was 162,941 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 40,735 shares, representing 25% of the average daily trading volume. 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 fund the purchases through available cash. In the previous 12 months, Goldmoney has not repurchased any of its outstanding common shares. 

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 its 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 3,000,000 common shares for the period of December 15, 2016 to December 14, 2017. Goldmoney did not make any purchases of its common shares between the period of December 15, 2016 and December 14, 2017.

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 $1.8 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.

Media and Investor Relations Inquiries:

Renee Wei
Director of Global Communications
Goldmoney Inc.
renee.wei@goldmoney.com

Josh Crumb
Chief Strategy Officer & Director 
Goldmoney Inc.
+1 647-499-6748

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 limited 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.