Goldmoney Inc. Establishes Real Assets Investment Strategy with First Acquisition of Commercial Property in the UK
Toronto, Ontario--(Newsfile Corp. - June 26, 2023) - Goldmoney Inc. (TSX: XAU) (US: XAUMD) ("Goldmoney" or the "Company") is pleased to report that further to its press release of June 13, 2023 announcing the Company's real assets investment strategy, the Company's subsidiary Goldmoney Properties Ltd. has completed the acquisition of its first asset.
On June 26, 2023, Goldmoney Properties completed the acquisition of a landmark 219,258 (GIA) square foot Class A building near the Port of Southampton from Aviva Investors Lime Property Fund for consideration of £33 million (CAD $55.4 million) in an all-cash transaction. Built in 2009 by a subsidiary of Land Securities Corp, the property is let to a single tenant S&P 500 company under a full repairing and insuring lease producing £2,538,933 (CAD $4,270,405) of net rental income per annum. The remaining term on the lease is 15.3 years through September 2038 with the rent increasing by a minimum of 1% and a maximum of 3% per annum depending on the rate of inflation as measured by the RPI index.
Statement from Roy Sebag, Founder and CEO of Goldmoney Inc.
"With this acquisition, Goldmoney establishes a new inflation-protected income stream for shareholders. The purchase was financed entirely with balance sheet cash, and from the additional precious metal gains and operating cash flows we realised after the fiscal year end. We acquired this trophy asset from one of the best performing unlevered institutional property funds in the world. As rates continue to hover at levels not seen for two decades, we believe there will be further opportunities to acquire additional institutional-grade real assets thereby growing our portfolio of secure inflation-protected long-term income."
About Goldmoney Inc.
Founded in 2001, Goldmoney (TSX: XAU) is a TSX listed company invested in the real economy. We engage in precious metal trading and custody, precious metal coin and bar retailing, jewelry manufacturing and retailing, and property investment. For more information about Goldmoney, visit: goldmoney.com
Media and Investor Relations inquiries:
Chief Financial Officer
+1 647 250 7098
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: the expected value and return on investment in the Company's real estate acquisitions, and the Property in particular, the ability of the current tenants on the Property to meet their rental obligations, the future state of the Property and the environment surrounding it, and the ability of the Company to return value from the Property to shareholders. 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 global inflationary environment and its effect on real estate prices and the Property in particular; the ability of the Company to integrate the Property into its current operations; the anticipated value and income growth in connection with the Property; the ability to maintain current and procure future commercial tenants for the Property; the surrounding environment and infrastructure of the Property remaining suitable; 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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