/NOT FOR DISSEMINATION IN THE U.S. OR FOR
DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
TORONTO, Jan. 2, 2019 /CNW/ - Michael Novogratz, Founder and CEO of Galaxy
Digital Holdings Ltd. (TSXV: GLXY; Frankfurt: 7LX) ("Galaxy Digital"
or the "Company"), today reported that he acquired 7,500,768
ordinary shares (the "Shares") of the Company for total
proceeds of C$7,422,918. The Shares
represented approximately 2.7% of the issued and outstanding
ordinary shares of the Company as of December 31, 2018 (the "Ordinary Shares")
(assuming conversion of the GDH B Units (defined below) held by Mr.
Novogratz).
The acquisition of the Shares by Mr. Novogratz was completed on
the TSX-Venture Exchange pursuant to the "private agreement
exemption" in Section 4.2 of National Instrument 62-104 –
Take-Over Bids and Issuer Bids. Mr. Novogratz is entitled to
rely on this exemption as: (a) purchases were made from not more
than 5 persons in the aggregate; (b) the bid was not made generally
to securityholders of the Ordinary Shares; and (c) the
consideration paid for the Ordinary Shares is not greater than 115%
of the market price of such securities. These acquisitions have
been reported on the System for Electronic Disclosure by
Insiders (SEDI) and took place in December with the most recent
acquisition of Shares on December 31, 2018 for C$1.02 per
share.
Prior to the acquisition of the Shares, Mr. Novogratz
beneficially owned 213,696,000 Class B limited partnership units
("GDH B Units") of Galaxy Digital Holdings LP ("GDH
LP"), which represented approximately 76.6% of the issued and
outstanding Ordinary Shares on December 31,
2018 (assuming conversion of the GDH B Units held by Mr.
Novogratz). Each GDH B Unit is, pursuant to the terms of the GDH LP
Third Amended and Restated Limited Partnership Agreement, and
subject to certain limitations, exchangeable for Ordinary Shares on
a one-for-one basis subject to customary adjustments for stock
splits, stock dividends and reclassifications and other similar
transactions. Following the acquisition of the Shares, Mr.
Novogratz owns and controls, directly or indirectly, on a fully
converted basis, 221,196,768 Ordinary Shares, representing
approximately 79.3% of the issued and outstanding Ordinary Shares
(assuming conversion of the GDH B Units held by Mr. Novogratz) as
of December 31, 2018. Mr. Novogratz
had previously filed an Early Warning Report on August 1, 2018.
Michael Novogratz acquired the
Shares for investment purposes. Mr. Novogratz may from time to time
acquire additional securities, dispose of some or all of the
existing or additional securities or may continue to hold the
securities of the Company. For further information and to obtain a
copy of the early warning report filed by Mr. Novogratz under
applicable Canadian securities laws, please see the Company's
profile on SEDAR at www.sedar.com.
The Company's headquarters is located at 107 Grand Street,
New York, New York, 10013,
USA.
About Galaxy Digital
Galaxy Digital is a diversified, multi-service merchant bank
dedicated to the digital assets and blockchain technology
industry. Galaxy Digital's team has extensive experience
spanning investing, portfolio management, capital markets,
operations, asset management, and blockchain technology.
Galaxy Digital currently operates four distinct business lines,
which include: Trading, Asset Management, Principal Investments and
Advisory Services. Galaxy Digital's CEO and Founder is
Michael Novogratz. The Company
is headquartered in New York City,
with offices in Tokyo,
Hong Kong, the Cayman Islands (registered office) and New
Jersey. Additional information about the Company's businesses
and products is available on www.galaxydigital.io.
Disclaimers
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
Forward-Looking Statements
Certain information in this press release, including, but not
limited to, statements regarding Mr. Novogratz' future plans, may
constitute forward looking information (collectively,
forward-looking statements), which can be identified by the use of
terms such as "may," "will," "should," "expect," "anticipate,"
"project," "estimate," "intend," "continue" or "believe" (or the
negatives) or other similar variations. Because of various risks
and uncertainties, including those referenced below, actual events
or results may differ materially from those reflected or
contemplated in such forward-looking statements. As a result, you
should not rely on such forward-looking statements. Additional
information identifying assumptions, risks and uncertainties
relating to Galaxy Digital is contained in Galaxy Digital's filings
with the Canadian securities regulators available at www.sedar.com.
These risks include those discussed in the risk factors section in
the Notice of Annual and Special Meeting of Shareholders and
Management Information Circular dated May
14, 2018. The forward-looking statements in this press
release are applicable only as of the date of this release or as of
the date specified in the relevant forward-looking statement.
SOURCE Galaxy Digital Holdings Ltd.