The Marygold Companies Completes Acquisition of Tiger Financial & Asset Management Limited

SAN CLEMENTE, Calif.–(BUSINESS WIRE)–The Marygold Companies, Inc. (NYSE American: MGLD) (the “Company”) (formerly Concierge Technologies, Inc.) today announced the completion of the previously announced acquisition of Tiger Financial & Asset Management Limited, (“Tiger”) a UK-based investment adviser, for £1.5 million (approximately US$1.9 million) in cash, plus estimated net current assets of £863,977 (approximately US$1. .1 million US dollars) for an aggregate total price of approximately US $3.0 million. The purchase price consideration is to be paid in three installments of approximately US$1.7 million at closing, and the remainder of approximately US$1.3 million to be paid in approximately equal installments on December 31, 2022 and December 31, 2023. (Conversion to U.S. currency noted above is estimated and averaged as of June 13, 2022.)

The transaction was completed through Marygold & Co. (UK) Limited, a London-based business unit established in 2021 and a wholly-owned subsidiary of the Company.

Based in Boughton, Northampton, England, Tiger has approximately £42 million (approximately US$53 million) in assets under advisory. The company’s core business is the management of clients’ financial wealth through a diverse product line, including cash, national savings, individual savings accounts, mutual funds, insurance companies such as investment bonds and other investment vehicles. Tiger founder and former owner Keith Halford and his team will remain with the company.

“The completion of this transaction paves the way for the expansion of our financial services in the UK, as well as the introduction of new services, such as the fintech mobile app developed by our US subsidiary, Marygold & Co. , which will offer customer payment and personalized banking services in the United States that provide a secure way to send, receive, spend and save with no bank fees or minimum requirements. in the United States later this year,” said Nicholas Gerber, CEO of The Marygold Companies. “Tiger is a great fit for us and should be immediately accretive. We welcome Tiger to The Marygold Companies family.”

“I am delighted that Tiger is now part of The Marygold Companies family and I look forward to continuing to advise Tiger’s clients and maintaining the high standards of service they enjoy,” said Keith Halford.

“The acquisition of Tiger is a very important first step for Marygold & Co. in the UK, giving us the initial regulatory license to be able to develop and expand our advisory services to new clients,” said Matthew Parden, CEO of Marygold & Co. (UK) Limited. “We are extremely encouraged by the upcoming opportunity to leverage our highly transformative fintech capabilities in the UK financial advice market, which is ripe for change.”

The company’s other financial services subsidiaries include Denver-based Marygold & Co. (www.marygoldandco.com), which was established in 2019 to explore opportunities in the fintech sector and is currently completing development of a banking application mobile, and USCF Investments (www.uscfinvestments.com), whose entities serve as the fund manager and investment advisor for eleven exchange-traded products that have approximately $5 billion in assets under management as of March 31, 2022.

About Marygold Companies, Inc.

The Marygold Companies, Inc., which changed its name from Concierge Technologies, Inc. in March 2022, was founded in 1996 and repositioned as a global holding company in 2015. The Company currently has operating subsidiaries in financial services , food manufacturing, printing, security systems and beauty products, under the trade names USCF Investments, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout, respectively. Offices and manufacturing operations are located in the United States, New Zealand, United Kingdom and Canada. For more information, visit www.themarygoldcompanies.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the United States federal securities laws. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continues” and similar expressions are intended to identify these forward-looking statements. These forward-looking statements, including but not limited to the expansion of financial services offerings in the UK, including the launch of the company’s fintech mobile banking app, involve significant risks and uncertainties that could cause actual results to differ materially from expected results and, accordingly, should not be relied upon as predictions of future events. These forward-looking statements, including factors disclosed in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission on September 22, 2021, and in the company’s other filings with the Securities and Exchange Commission , are not exclusive. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revision to any of the forward-looking statements contained in this press release..

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