U.S. Global Investors Announces Completion of Sale of Ownership Interest in Galileo
March 03 2020 - 3:32PM
U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a
boutique registered investment advisory firm with longstanding
experience in global markets and specialized sectors, announces
that it has completed the previously-announced sale back of its
65-percent interest in Toronto-based Galileo Global Equity
Advisors, Inc. (“Galileo”) for $1.0 million (Canadian), effective
March 2, 2020. The transaction follows a binding letter of intent
dated December 30, 2019, whereby Galileo, pursuant to a capital
restructuring, agreed to repurchase all of its common shares owned
by the Company.
Except for an equity method investment in a fund managed by
Galileo, the Company no longer has any involvement with the
operations of Galileo. Frank Holmes, chief executive officer (CEO)
of the Company, and Lisa Callicotte, chief financial officer (CFO),
formerly served as directors of Galileo.
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About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years
when it began as an investment club. Today, U.S. Global Investors
(www.usfunds.com) is a registered investment adviser that focuses
on niche markets around the world. Headquartered in San Antonio,
Texas, the Company provides money management and other services to
U.S. Global Investors Funds and U.S. Global ETFs.
Joseph Guyer
U.S. Global Investors, Inc.
210.308.1221
jguyer@usfunds.com
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