Goldmoney Receives Exemption from Canadian Securities Regulators for its Precious Metals Purchase and Storage Services in Canada

TORONTO, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Goldmoney Inc. (TSX: XAU) (US: XAUMF) (“Goldmoney” or the “Company”), today announced that it has received exemptive relief (“Exemptive Relief”) from Canadian securities regulators allowing it and two of its operating subsidiaries, (collectively the “exempted Goldmoney entities”) to continue offering clients in Canada precious metals purchase and storage services to facilitate their precious metals transactions (“Precious Metals Transactions”).

The exemption allows the exempted Goldmoney entities to conduct this activity without the need to become registered as a dealer or to deliver a prospectus, subject to compliance with certain terms and conditions. The relief extends to the directors, officers and representatives of the exempted Goldmoney entities.

Clients with Canadian addresses who enter into precious metals transactions and create on-line holdings (“Holdings”) with Goldmoney will continue to transact on the Company’s online proprietary internet-based platform.

In Canada, the Company services its clients primarily through its wholly owned subsidiary, Goldmoney Vault Inc (“GVI”). Companies, institutions and high-net-worth individuals also can establish a client relationship with Goldmoney Vault UK Limited (United Kingdom) (“GVUK”). GVI or GVUK arrange precious metals storage as agents for clients with third party vault custodians acceptable to Canadian securities regulators.

Roy Sebag, Chairman and Chief Executive Officer of Goldmoney said: “Goldmoney welcomes the granting of this exemptive relief. It eliminates regulatory uncertainty in our Canadian precious metals business and could not have been achieved without the cooperation of the Canadian regulators who took part. We wish to acknowledge these regulators for taking the time to learn about the unique nature of physical precious metal custody.”

Unless extended, the Exemptive Relief expires upon the fifth anniversary of the exemption which will occur on September 11, 2029. The order granting Exemptive Relief can end earlier by order of a court or securities regulator or if the law applicable to the exempted Goldmoney entities changes to conflict with or duplicate the content of the order.

The Exemptive Relief applicable to clients with a Canadian address is subject to terms and conditions including:

• requiring, on the earlier of (i) logging into the client platform trading account after the date of the Exemptive Relief and (ii) the first transaction occurring after the date of the Exemptive Relief, the delivery of a risk disclosure statement (“RDS”) to each client and prospective client (‘prospect”) and that a written or electronic acknowledgement be obtained from the client or prospect confirming that the client or prospect has received, read and understood the RDS. Such acknowledgment will be separate from and prominent among other acknowledgements provided by the client as part of the Holding-opening process.