Goldmoney Inc., a Toronto-based a gold-based payments and savings platform, announced that it has completed its previously announced $30 million CAD bought deal private placement led by underwriters GMP Securities L.P. and Mackie Research Capital Corporation.
Goldmoney sold 6,976,744 common shares at a price of $4.30 per share, with a designated 5 percent cash commission for its underwriters. There is a four-month hold period on the offer that will expire on February 26, 2018.
“Over the past month since our first BlockVault announcement, Goldmoney has made good progress in building the BlockVault infrastructure in Toronto and Zug, Switzerland, and engaging prospective institutional clients and partners globally,” said Josh Crumb, Goldmoney CFO. “Our innovative approach to custody, security, and compliance through the unique ColdBlocks™ product offering has been very well received by both traditional financial institutions and the crypto asset community alike.”
The proceeds of the deal will be used to fund software development and invest in BlockVault personnel. Announced with the funding earlier this month, BlockVault is a subsidiary dedicated to providing institutional-grade custodial and investment services for blockchain assets. BlockVault will power Goldmoney’s planned ColdBlocks cryptocurrency. The company says ColdBlocks, which it will release at the end of the year, are insurable and auditable as vaulted-custodial assets at any London Bullion Market Association-eligible vault location around the world that currently secures precious metals.
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