Toronto, Ontario (October 23, 2015) – GoldMoney Inc. (TSX-V: XAU), a full-reserve and gold-based financial service and technology group, is pleased to announce the appointments of Katie Sokalsky, CPA, CA, as Chief Financial Officer, and Kate Millington as General Counsel of GoldMoney. GoldMoney also completes the previously planned addition of James Turk and Hector Fleming to the board of directors.
Katie Sokalsky previously specialized in financial services at PricewaterhouseCoopers LLP as an audit manager. Katie worked with GoldMoney (formerly BitGold Inc.) since its inception, with PricewaterhouseCoopers LLP, acting as appointed auditor of the Company. As Chief Financial Officer for GoldMoney, she brings valuable expertise in compliance, reporting, and extensive knowledge and relationships in financial services. Katie holds an Honours Bachelor of Commerce from Queen’s University in
Kate Millington previously served as a staff lawyer to the GoldMoney precious metals custody business. For the past three years, Kate has developed compliance and operational systems for GoldMoney subsidiary Net Transactions Ltd., which is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. As General Counsel for GoldMoney, her expertise is being utilized to develop and integrate standard regulatory management systems across all GoldMoney business platforms. Katie holds a Bachelor of Law and a Bachelor of Arts from the University of Auckland and is a member of the Bars of New Zealand and England and Wales.
Messrs. James Turk and Hector Fleming were appointed as directors at the Special Meeting of GoldMoney held on September 29, 2015. James is a founder of the GoldMoney precious metals custody business, which was acquired in July 2015, and Hector was a director of that business before it was acquired. GoldMoney is excited to complete the last step of the transaction with the election of James and Hector to the board and will greatly benefit from their continued experience and support.
“We require strong vision and proficiency as the rapid growth of our platform moves into the next phase,” said Roy Sebag, Chief Executive Officer. “With new partnerships and additional product innovation in store for both business lines, these management additions broaden our capabilities in the areas of corporate finance and compliance, while also enhancing the energy and initiative of our culture.”
“We are excited and honored by the addition of these high caliber leaders,” said Josh Crumb, Chief Strategy Officer. “These appointments reinforce our commitment to excellence in all aspects of regulatory compliance, platform integrity, and stakeholder transparency.”
“I’m looking forward to being part of one of Canada’s most exciting growth companies,” said Katie Sokalsky. “The vision and values this team has embodied from the outset are exemplary, and I look forward to contributing to the Company’s approach to best practice systems as a financial services innovator.”
With the appointment of Katie Sokalsky as CFO, GoldMoney also announces the appointment of KPMG LLP as the Company’s new independent auditing firm. As Katie was a senior member of the PricewaterhouseCoopers LLP engagement team, a change in auditors was required to ensure independence in accordance with professional guidelines. GoldMoney wishes to thank PricewaterhouseCoopers LLP for its services and support as the founding auditors of GoldMoney.
The Company’s audit committee and board of directors have approved the resignation of the former auditor and the appointment of KPMG LLP. There were no reservations or modified opinions in the former auditor’s reports in connection with the financial statements for the Company’s most recently completed fiscal year (2015) and any subsequent period, and there are no “reportable events” (as defined in the National Instrument 51-102 – Continuous Disclosure Obligations) between the Company and the Former Auditor.
GoldMoney announces the grant of 100,000 options to an officer with an exercise price of $3.70 and a term of five years. GoldMoney wishes to thank Daniel Crandall, CA, CPA, for his work as the founding Chief Financial Officer of GoldMoney. Dan will continue to provide financial accounting support and GoldMoney will benefit from the continuity of his services.
GoldMoney Inc. is a global, full-reserve and gold-based financial services group. GoldMoney provides financial services as a trusted, limited third-party, combining the unique attributes of gold with technology-driven innovation. Through GoldMoney® the company offers precious metals custody and wealth services, trading and execution, and independent research to individual investors and institutions. Through BitGold™ the company operates a self-directed savings platform and a payments network allowing individuals and businesses to make or receive online, in-store or mobile payments. GoldMoney Inc. has over 340,000 clients from over 100 countries and $1.5 billion in client assets under administration. GoldMoney is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. The JFSC is the main supervisory body that oversees and regulates Jersey’s large financial services industry. For more information on BitGold, visit bitgold.com. For more information on GoldMoney, visit ir.goldmoney.com.
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This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. 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 limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; unproven markets for the Company’s product offering; volatility of gold prices & public interest in gold investment; lack of regulation and customer protection; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; foreign currency and gold trading risks; use and storage of personal information and compliance with privacy laws; use of the Company’s services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; and those risks set out in the Company’s public documents filed on www.sedar.com. 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 revise or update any forward-looking information other than as required by law.