Goldmoney Congratulates Menē Inc. (TSXV:MENE) for its Listing on the TSX VentureNov 6, 2018
Goldmoney Announces Distribution of Menē Shares
TORONTO – (November 6, 2018) – Goldmoney Inc. (TSX:XAU) (“Goldmoney”), a precious metal financial service and technology company, wishes to congratulate the entire team at Menē Inc. (“Menē” or “Mene”), a luxury e-commerce 24 karat investment jewelry brand, for their achievements as Menē commences trading today on the TSX Venture Exchange under the ticker symbol, “MENE”.
Goldmoney is pleased to announce that its Board of Directors will declare a distribution of 3,990,000 class B subordinate voting shares of Menē (the “Shares”) from its holdings to the shareholders of Goldmoney on a pro rata basis. A further announcement will be made with details of the record date and the payment date.
Goldmoney currently holds 79,800,000 class B subordinate shares of Menē representing 36.7% of the issued and outstanding shares of Menē on a non-diluted basis. The distribution of the Shares to Goldmoney shareholders represents the first escrow release pursuant to the escrow requirements of the TSX Venture Exchange. Goldmoney will make further announcements should the Board of Directors determine to make additional distributions of its Menē class B subordinate voting shares.
Menē was founded by Goldmoney’s co-founder and CEO Roy Sebag and art historian Diana Widmaier Picasso, with the mission to restore the ancient tradition of jewelry as a store of enduring value. With a combination of innovative technology, timeless design and radical transparency, Menē has rapidly become a sensation within the global fashion and luxury market in near record time. In less than 10 months, Menē has emerged as the leader in “Investment Jewelry” – changing the paradigm from discretionary jewelry purchases to precious metal investment.
Goldmoney and Menē have developed a mutually beneficial working relationship through a strategic growth platform that creates value for both companies. Goldmoney has provided key support to every aspect of Menē, from an initial $2 million venture funding to develop the vision for investment jewelry, to the strategic support provided in the long-term supply arrangement through which Goldmoney supplies the gold and platinum used by Menē in fabricating its diverse portfolio of jewelry products.
“Menē is consistent with Goldmoney’s mission, which is to provide convenient, economical, and safe online access to gold,” said Goldmoney Lead Director James Turk. “This stock distribution enables Goldmoney shareholders to benefit from Goldmoney’s close relationship with Menē.”
“On behalf of the entire Goldmoney team, we wish the Menē team continued success as they look to grow and scale into to a formidable global jewelry brand,” said Josh Crumb, Chief Strategy Officer. “As an independent company, Menē will enjoy increased flexibility to pursue new partnership and growth opportunities, and the market capitalization fitting for this stage of scaling a disruptive, technology-enhanced direct-to-consumer brand.”
To learn more about Menē and its mission, visit www.Mene.com.
Here is to Menē’s bright future.
About Goldmoney Inc.
Goldmoney Inc., a financial service company traded on the Toronto Stock Exchange (TSX:XAU), is a global leader in precious metal investment services and the world’s largest precious metals payment network. Safeguarding nearly $2 billion in assets for clients located in more than 150 countries, Goldmoney is focused on a singular mission to make precious metals-backed savings accessible to all. Powered by Goldmoney’s patented technology, the Goldmoney® Holding is an online account that enables clients to invest, earn, or spend gold, silver, platinum, palladium and cryptocurrencies that are securely stored in insured vaults in seven countries. All bullion assets are fully allocated and physically redeemable property. Goldmoney Wealth Limited is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. Goldmoney Network is a reporting entity to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and is registered with the Financial Crimes Enforcement Network (FinCEN) in the U.S. For more information about Goldmoney, visit goldmoney.com.
About Menē Inc.
Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through Mene.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 mene.com.
Media and Investor Relations Inquiries:
Director of Global Communications
Chief Strategy Officer
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