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:
Mark Olson
Chief Financial Officer
Goldmoney Inc.
+1 647 250 7098