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Goldmoney Inc. Announces Approval to Amend Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - February 14, 2024) - Goldmoney Inc. (TSX: XAU) (US: XAUMF) ("...
About this update from Goldmoney Inc.
[{"type":"text","content":"Goldmoney Inc. Announces Approval to Amend Normal Course Issuer BidToronto, Ontario--(Newsfile Corp. - February 14, 2024) - Goldmoney Inc. (TSX: XAU) (US: XAUMF) (\"Goldmoney\" or the \"Company\") announced today that the Toronto Stock Exchange (the \"TSX\") has accepted the notice filed by the Company to amend its normal course issuer bid (\"NCIB\"). The amendment is effective as of February 20, 2024, and increases the maximum number of common shares (the \"Common Shares\") of the Company that may be repurchased, from 592,058 Common Shares representing approximately 7.95% of the Company's 'public float' as at September 11, 2023, to 744,536 Common Shares, representing approximately 10% of the Company's 'public float' as at September 11, 2023. No other terms of the NCIB have been amended.Under the policies of the TSX, Goldmoney will have the right to repurchase under its NCIB, during any one trading day, a maximum of 1,134 Shares through the facilities of the TSX, representing 25% of the average daily trading volume. Notwithstanding the foregoing, Goldmoney is permitted to repurchase greater than 1,134 Shares during any one trading date only if such repurchases that are in excess of 1,134 Shares are made on alternative Canadian trading systems. 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 Common Shares not directly or indirectly owned by the insiders of Goldmoney, in accordance with TSX policies. Goldmoney will fund the purchases through available cash. Purchases under the NCIB began on September 22, 2023 and will terminate no later than September 21, 2024, and are made by way of normal course purchases effected through the facilities of the TSX or alternative Canadian trading systems. Goldmoney reserves the right to terminate the NCIB earlier if it feels that it is appropriate to do so. Under its current NCIB, as of February 6, 2024, the Company has repurchased 495,800 Common Shares, at a weighted-average price of $8.18. In deciding to amend the NCIB, the Board of directors believes that the market price of the Common Shares may not, from time to time, fully reflect their long-term value. Accordingly, the purchase of the Common Shares under the amended NCIB is in the best interests of the Company and an attractive and appropriate u...