Mr. Josh Crumb reports
GOLDMONEY CONGRATULATES MENE INC. (TSXV:MENE) FOR ITS LISTING ON THE TSX VENTURE EXCHANGE
Goldmoney Inc. is congratulating the entire team at Mene Inc., a luxury e-commerce 24-karat investment jewellery brand, for its achievements, as Mene commences trading today on the TSX Venture Exchange under the ticker symbol MENE.
Goldmoney will declare a distribution of 3.99 million Class B subordinate voting shares of Mene 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 79.8 million Class B subordinate shares of Mene, representing 36.7 per cent of the issued and outstanding shares of Mene 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-V. Goldmoney will make further announcements should the board of directors determine to make additional distributions of its Mene Class B subordinate voting shares.
Mene was founded by Roy Sebag, Goldmoney's co-founder and chief executive officer, and art historian Diana Widmaier Picasso, with the mission to restore the ancient tradition of jewellery as a store of enduring value. With a combination of innovative technology, timeless design and radical transparency, Mene has rapidly become a sensation within the global fashion and luxury market in near record time. In less than 10 months, Mene has emerged as the leader in investment jewellery -- changing the paradigm from discretionary jewellery purchases to precious metal investment.
Goldmoney and Mene 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 Mene, from an initial $2-million venture financing to develop the vision for investment jewellery, to the strategic support provided in the long-term supply arrangement, through which Goldmoney supplies the gold and platinum used by Mene in fabricating its diverse portfolio of jewellery products.
"Mene is consistent with Goldmoney's mission, which is to provide convenient, economical and safe on-line access to gold," commented James Turk, Goldmoney's lead director. "This stock distribution enables Goldmoney shareholders to benefit from Goldmoney's close relationship with Mene."
"On behalf of the entire Goldmoney team, we wish the Mene team continued success as they look to grow and scale into to a formidable global jewellery brand," commented Josh Crumb, chief strategy officer of Goldmoney. "As an independent company, Mene 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."
About Goldmoney Inc.
Goldmoney, a financial service company traded on the Toronto Stock Exchange, 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-metal-backed savings accessible to all. Powered by Goldmoney's patented technology, the Goldmoney holding is an on-line 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.
About Mene Inc.
Mene crafts pure 24-karat gold and platinum jewellery that is transparently sold by gram weight. Through the Mene website, customers may buy jewellery, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Mene was founded by Mr. Sebag and Ms. Widmaier-Picasso with a mission to restore the relationship between jewellery and savings. Mene empowers consumers by marrying innovative technology, timeless design and pure precious metals to create pieces which endure as a store of value.
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