Mene Inc. Announces Full Repayment of Goldmoney Inc. Precious Metals Loan

Menē Inc. (TSX-V:MENE) (US:MENEF) (“Menē” or the “Company”), an online 24 karat jewelry brand, announced today that the Company has fully repaid the Precious Metal Loan facility owed to Goldmoney Inc. At the end of Fiscal Q3 2023, the amount outstanding under this facility was $9.7 million. The Company currently has no indebtedness other than trade payables incurred in the ordinary course of business.

Statement from Vincent Gladu, CEO of Menē

We are pleased to announce that Menē has fully repaid its Precious Metal Loan facility to Goldmoney Inc. This milestone will help position the company in successfully achieving the transformation it is currently undertaking towards a more modern and scalable operating model.

We would like to thank Goldmoney for providing Menē with this loan at the very early stages of its inception and for its unwavering support since Menē’s founding.

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through Menē.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 Menē.com.

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. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the benefits of repayment of the Goldmoney Inc. precious metals loan, its business plans and goals of the Company for the current financial year, the hiring of new management, estimated potential year over year growth, marketing plans and the announcement of future plans and milestones.