| [February 03, 2016] |
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GoldMoney Announces C$15,000,000 Financing
GoldMoney Inc. (TSX-V: XAU) ("GoldMoney" or the "Company")
is pleased to announce that it has entered into an agreement with a
syndicate of underwriters led by GMP Securities L.P. and including
Clarus Securities Inc. and Mackie Research Capital Corporation
(collectively, the "Underwriters"), which has agreed to purchase,
on a bought deal basis, 3,846,154 common shares (the "Shares") of
the Company at a price of C$3.90 per share, for aggregate gross proceeds
of C$15,000,000 (the "Offering"). PowerOne Capital Markets
Limited acted as financial advisor with respect to the Offering.
The Underwriters will also have the option exercisable, in whole or in
part, to purchase that number of additional Shares that is equal to 15%
of Shares sold pursuant to the offering to cover the Underwriters'
over-allotment position. In the event that the option is exercised in
its entirety, the aggregate gross proceeds of the Offering will be
C$17,250,000.
The net proceeds of the Offering are expected to be used for general
corporate purposes.
It is expected that the Shares will be offered to "accredited investors"
in all of the provinces of Canada (other than the Province of Quebec)
pursuant to National Instrument 45-106 - Prospectus Exempt
Distributions and in the United States on a private placement basis
pursuant to exemption from the registration requirements of the United
States Securities Act of 1933, as amended. The Shares will be subject to
a four-month hold period in Canada.
The Shares have not been registered under the United States Securities
Act of 1933, as amended, or applicable state securities laws, and the
Shares may not be offered or sold in the United States absent
registration or an applicable exemption from such registration
requirements.
The Offering is expected to close on or about February 24, 2016. Closing
of the Offering would be subject to certain conditions typical for a
transaction of this nature and the receipt of all necessary regulatory
approvals, including the approval of the TSX Venture Exchange.
About GoldMoney
GoldMoney Inc. is a global, full-reserve and
gold-based financial services group. GoldMoney provides financial
services as a trusted, limited third-party, combining the unique
attributes of gold with technology-driven innovation. Through GoldMoney®
the company offers precious metals custody and wealth services, trading
and execution, and independent research to individual investors and
institutions. hrough BitGold™ the company operates a self-directed
savings platform and a payments network allowing individuals and
businesses to make or receive online, in-store or mobile payments.
GoldMoney Inc. has over 700,000 clients from over 150 countries and $1.6
billion in client assets under administration. GoldMoney is regulated by
the Jersey Financial Services Commission (JFSC) as a Money Services
Business. The JFSC is the main supervisory body that oversees and
regulates Jersey's large financial services industry. For more
information on BitGold, visit bitgold.com.
For more information on GoldMoney, visit www.ir.goldmoney.com.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. Neither
the TSX-V nor its Regulation Services Provider (as that term is defined
in the policies of the TSX-V) accepts responsibility for the adequacy of
this release.
Forward-Looking Statements
This news release contains
certain "forward-looking information" within the meaning of applicable
Canadian securities laws that are based on expectations, estimates and
projections as at the date of this news release. Any statements that
involve discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as "expects", or
"does not expect", "is expected", "anticipates" or "does not
anticipate", "plans", "budget", "scheduled", "forecasts", "estimates",
"believes" or "intends" or variations of such words and phrases or
stating that certain actions, events or results "may" or "could",
"would", "might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking information and
are intended to identify forward-looking information. 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; future capital needs and uncertainty of additional financing;
the competitive nature of the industry; unproven markets for the
Company's product offering; volatility of gold prices & public interest
in gold investment; lack of regulation and customer protection; the need
for the Company to manage its planned growth and expansion; the effects
of product development and need for continued technology change;
protection of proprietary rights; the effect of government regulation
and compliance on the Company and the industry; network security risks;
the ability of the Company to maintain properly working systems; foreign
currency and gold trading risks; use and storage of personal information
and compliance with privacy laws; use of the Company's services for
improper or illegal purposes; global economic and financial market
conditions; uninsurable risks; and those risks set out in the Company's
public documents filed on www.sedar.com.
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 revise or update any forward-looking
information other than as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160203006495/en/
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