Goldmoney Inc. Formally Exits Cryptocurrency Business
06 Março 2019 - 7:00PM
Business Wire
Goldmoney Inc. (TSX:XAU) (“Goldmoney” or the “Company”) has
decided to exit the cryptocurrency business. Goldmoney will work
with its customers who store their cryptocurrency with it to
minimize any inconvenience this decision may cause.
As of March 6, 2019, cryptocurrency purchases are no longer
available. Customers who store cryptocurrency with Goldmoney will
be able to liquidate their position or request that their
cryptocurrency be delivered to their wallet.
Customers may liquidate their position or take delivery up until
May 6, 2019. On that date, Goldmoney will sell any remaining
cryptocurrency positions and place the proceeds from the sale in
the customer’s holding, after which all cryptocurrency related
activity on the Goldmoney.com platform will cease.
The Goldmoney Board of Directors made this decision following a
review of several factors. By exiting this business line, Goldmoney
will maintain its focus on new growth initiatives within the
precious metal industry.
About Goldmoney Inc.
Goldmoney Inc. (TSX: XAU) is a precious metal focused company
that safeguards $1.8 billion of assets owned by clients located in
over 150 countries. The company’s activities include: sale and
purchase of precious metals and their storage through
Goldmoney.com, online jewelry retailing through Mene.com (TSX-V:
MENE), coin and bar sales and purchases through SchiffGold.com, and
gold and silver collateralized lending and borrowing through
LendBorrowTrust.com. Through these businesses Goldmoney pursues
opportunities to grow its operation and provide its shareholders
with long-term exposure to the precious metals. For more
information about Goldmoney, visit goldmoney.com.
Forward‐Looking Statements
This news release contains or refers to certain forward-looking
information. Forward-looking information can often be identified by
forward-looking words such as “anticipate”, “believe”, “expect”,
“plan”, “intend”, “estimate”, “may”, “potential” and “will” or
similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements
about future events or performance. All information other than
information regarding historical fact, which addresses activities,
events or developments that the Goldmoney Inc. believes, expects or
anticipates will or may occur in the future, is forward-looking
information. Forward-looking information does not constitute
historical fact but reflects the current expectations the Company
regarding future results or events based on information that is
currently available. By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking information will not occur. Such forward-looking
information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not
limited to, statements with respect to: service times for
transactions on the Goldmoney network; growth of the Company’s
business, expected results of operations, and the market for the
Company’s products and services and competitive conditions. This
forward-looking information is based on reasonable assumptions and
estimates of management of the Company at the time it was made, and
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others:
the Company’s operating history; history of operating losses;
future capital needs and uncertainty of additional financing;
fluctuations in the market price of the Company’s common shares;
the effect of government regulation and compliance on the Company
and the industry; legal and regulatory change and uncertainty;
jurisdictional factors associated with international operations;
foreign restrictions on the Company’s operations; product
development and rapid technological change; dependence on technical
infrastructure; protection of intellectual property; use and
storage of personal information and compliance with privacy laws;
network security risks; risk of system failure or inadequacy; the
Company’s ability to manage rapid growth; competition; the ability
to identify opportunities for growth internally and through
acquisitions and strategic relationships on terms which are
economic or at all; effectiveness of the Company’s risk management
and internal controls; use of the Company’s services for improper
or illegal purposes; uninsured and underinsured losses; theft &
risk of physical harm to personnel; precious metal trading risks;
and volatility of precious metals prices & public interest in
precious metals investment; and those risks set out in the
Company’s most recently filed annual information form, available
on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company undertakes no
obligation to update or revise any forward-looking information,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190306005805/en/
Media and Investor Relations Inquiries:
Renee WeiDirector of Global CommunicationsGoldmoney
Inc.renee.wei@goldmoney.com
Steve FrayChief Financial OfficerGoldmoney Inc.+1 647 499
6748
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