MGLD News & Events

The Marygold Companies announced that it has entered into a stock purchase agreement to sell its wholly owned Canadian subsidiary, Brigadier Security Systems to SKCAL, an Arizona limited liability company whose sole member is a director and 11% shareholder of TMC. The proposed transaction aligns with the company's corporate strategy to direct resources toward growth in the financial services sector. It is expected to close on or about July 1. Total consideration is estimated to be approximately $2.2M. The proposed transaction is subject to the customary prerequisites for transactions of this nature, including, but not limited to, completion of due diligence, board approval, fairness opinion and possible adjustments to purchase price after completion of audited financial statements. Proceeds from the sale of Brigadier will be used to pay down corporate debt and for general corporate purposes.

Reports Q3 revenue $7M vs. $7.9M last year.

The Marygold Companies announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares of common stock to be sold in the proposed offering will be sold by Marygold. Maxim Group is acting as the sole book-running manager for the proposed offering.

The Marygold Companies announced it has acquired a 7.95% ownership position, investing $1.8M in Delaware based Midland Capital Holdings Corporation MCHC a privately owned holding company whose principal operating entity is Midland Federal Savings and Loan Association or Midland Federal, headquartered in Bridgeview, Illinois. Operating continuously in the greater Chicago area since 1914, Midland Federal has total assets of approximately $115M , with four full-service branch offices-two in Chicago, and in nearby Bridgeview and Homer Glen, Illinois. As part of the transaction, TMC also holds 180,044 warrants to purchase 180,044 additional shares of MCHC at an exercise price of $22.25. The warrants expire on February 27, 2034. "The transaction affirms our corporate strategy and focus on the financial services and fintech sector," said Nicholas Gerber, CEO of TMC. "It follows our recent acquisitions of UK-based investment advisory firms Tiger Financial & Asset Management and Step By Step Financial Planners, which are now wholly owned TMC indirect subsidiaries, plus our long-established ETF management subsidiary, USCF Investments, with approximately $3.2B in assets under management.