5/25/2015 - 3:25 PM EST - BitGold Inc. : announced further information on the Acquisition Agreement dated May 22, to purchase the operating and intellectual property assets of GoldMoney Network Limited, subject to regulatory approvals and other customary closing conditions. The acquisition is an arm’s length transaction. Consideration for the acquisition is the issuance of 11.1 million common shares in BitGold which will be distributed to the shareholders of GoldMoney with no new insiders of BitGold. The reference to $1.5 billion in vault assets under administration refers to gold, silver, platinum and palladium owned by customers and held in GoldMoney vaults on behalf of customers. BitGold Inc.
shares V.XAU are trading up $0.98 at $5.63.
