A-Mark Precious Metals Acquires Minority Interest in Sunshine Minting

EL SEGUNDO, Calif. and COEUR D’ALENE, Idaho, Dec. 09, 2020 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK), a leading full-service provider of products and services to the global precious metals market, today announced that it recently acquired a 31.1% interest in Sunshine Minting, Inc. (SMI), a leading manufacturer of precious metals mint products and a long-standing supplier and counterparty of A-Mark.

Through its three state-of-the-art minting facilities around the world, SMI is the industry leader for the supply of high-quality blanks, coins and medallions, as well as a wide array of custom minted products possessing various finishes for some of the largest sovereign governments, major marketing companies, financial institutions, corporations, and private groups globally.

“We’re excited to expand on our long-standing relationship with a meaningful acquisition stake in SMI,” said A-Mark CEO Greg Roberts. “For over 30 years, there has been a strong business relationship between A-Mark and SMI, and this arrangement will provide us with the resources to continue to execute on our longer-term growth plans and maximize a number of identified synergies. I have admired the business acumen of Tom Power, President & CEO of SMI, for many years, and I have complete confidence in his and his team’s ability to take SMI to the next level of growth.”

Tom Power added: “Over the past few years, I have had numerous discussions with various entities that approached SMI to become a minority equity partner. The company’s key requirement was to bring in the right partner with the right values that will support our growth trajectory in the global marketplace. A-Mark Precious Metals is the perfect partner for us. In addition to our over three decades of trade affiliation, since 2012, A-Mark has been our exclusive distributor of our SMI Branded bullion products containing our exclusive MintMark SI Anti-Counterfeit technology. This arrangement has grown our SMI bullion to be one of the most sought-after private brands in the world. We are pleased to announce we have added Greg Roberts, to our Board of Directors. We are looking forward to this next chapter of growth and development of the SMI brand utilizing the mutual benefit this new investment brings with it.”