A-Mark Precious Metals, Inc. (NASDAQ:
AMRK) (A-Mark), a leading fully integrated precious metals
platform, and its wholly owned subsidiary, JM Bullion (JMB), will
unveil its new CyberMetals platform during a virtual presentation
hosted by D.A. Davidson on Tuesday, December 7, 2021. Following the
event, the Company will make available a copy of the slide
presentation in the Investor Relations section of its website.
Leveraging the core strengths of A-Mark and JMB,
CyberMetals is an innovative, online platform that digitizes large
gold, silver and platinum bars and allows consumers to buy and sell
fractional shares of these bars in a range of denominations. The
platform will support both accumulation-type programs where
customers acquire precious metals at pre-defined intervals, as well
as more opportunistic purchase and sale transactions. This unique
structure provides the lowest possible pricing spreads to
customers, which is differentiated from existing programs in the
industry that generally carry large pricing spreads for smaller
valued transactions. Customers will be able to access the
CyberMetals portal through an intuitive platform on desktop or
mobile device (iOS and Android), giving customers 24/7/365 access
to buy, sell and monitor their portfolio.
CyberMetals’ customers will have the option to
convert their digital holdings to fabricated precious metals
products via an integrated redemption flow with JMB. These products
may be designated for storage by the Company or shipped directly to
the customer, a feature currently unavailable in the domestic
Exchange Traded Fund (ETF) marketplace. To fund purchases,
customers will have a broad array of payment options, including
credit/debit card, automated clearing house (ACH), bank wire,
cryptocurrencies (via BitPay), and PayPal. CyberMetals, a special
purpose entity, will store the precious metals at A-Mark’s Las
Vegas, Nevada depository, which is fully custodied, secured and
insured. A-Mark will partner with its current security partner,
Loomis, to manage the storage of the metals.
A-Mark and JMB plan to start beta testing the
CyberMetals marketplace in December 2021 with commercial release
scheduled for February 2022.
“We are excited to unveil CyberMetals as we
believe it is an innovative product offering that will attract new
precious metals customers from previously untapped sources while
reducing friction for precious metals ownership,” said A-Mark CEO,
Greg Roberts. “The offering is highly complementary to our existing
services, leveraging our physical footprint in Las Vegas along with
our core competencies in product sourcing and logistics. We believe
the CyberMetals marketplace will enhance and accelerate our new
precious metals customer acquisition strategy.”
Michael Wittmeyer, CEO of JM Bullion, a
wholly-owned subsidiary of A-Mark, commented: “The JM Bullion team
has utilized its marketing and customer acquisition experience to
build a deep and loyal customer base that will now have seamless
access to the new CyberMetals platform. This new platform will also
allow us to target previously untapped customer segments who prefer
the convenience and simplicity of digital precious metals
ownership.”
About A-Mark Precious
MetalsFounded in 1965, A-Mark Precious Metals, Inc.
(NASDAQ: AMRK) is a leading fully integrated precious metals
platform that offers an array of gold, silver, platinum, palladium,
and copper bullion, numismatic coins and related products to
wholesale and retail customers via a portfolio of channels. The
company conducts its operations through three complementary
segments: Wholesale Sales & Ancillary Services, Secured
Lending, and Direct-to-Consumer. The company’s global customer base
spans sovereign and private mints, manufacturers and fabricators,
refiners, dealers, financial institutions, industrial users,
investors, collectors, and e-commerce and other retail
customers.
A-Mark’s Wholesale Sales & Ancillary
Services segment distributes and purchases precious metal products
from sovereign and private mints. As a U.S. Mint-authorized
purchaser of gold, silver, and platinum coins since 1986, A-Mark
purchases bullion products directly from the U.S. Mint for sale to
customers. A-Mark also has longstanding distributorships with other
sovereign mints, including Australia, Austria, Canada, China,
Mexico, South Africa and the United Kingdom. The company sells more
than 200 different products to e-commerce retailers, coin and
bullion dealers, financial institutions, brokerages and collectors.
In addition, A-Mark sells precious metal products to industrial
users, including metal refiners, manufacturers and electronic
fabricators.
Through its A-M Global Logistics subsidiary,
A-Mark provides its customers with a range of complementary
services, including managed storage options for precious metals as
well as receiving, handling, inventorying, processing, packaging,
and shipping of precious metals and coins on a secure basis.
A-Mark’s mint operations, which are conducted through its wholly
owned subsidiary Silver Towne Mint, enable the company to offer
customers a wide range of proprietary coin and bar offerings and,
during periods of market volatility when the availability of silver
bullion from sovereign mints is often product constrained,
preferred product access.
A-Mark’s Direct-to-Consumer segment operates as
an omni-channel retailer of precious metals, providing access to a
multitude of products through its wholly owned subsidiaries, JM
Bullion and Goldline. JM Bullion is a leading e-commerce retailer
of precious metals and operates five separately branded,
company-owned websites targeting specific niches within the
precious metals market: JMBullion.com, ProvidentMetals.com,
Silver.com, GoldPrice.org, SilverPrice.org. Goldline markets
precious metals directly to the investor community through various
channels, including television, radio and telephonic sales efforts.
A-Mark also holds minority ownership interests in two additional
direct-to-consumer brands.
The company operates its Secured Lending segment
through its wholly owned subsidiaries, Collateral Finance
Corporation (CFC) and AM Capital Funding. Founded in
2005, CFC is a California licensed finance lender that
originates and acquires loans secured by bullion and numismatic
coins. Its customers include coin and precious metal dealers,
investors and collectors. AM Capital Funding was formed in 2018 for
the purpose of securitizing eligible secured loans of CFC.
A-Mark is headquartered in El Segundo, CA and has additional
offices and facilities in the neighboring Los Angeles area as well
as in Dallas, TX, Las Vegas, NV, Winchester, IN, and Vienna,
Austria. For more information, visit www.amark.com.
Company Contact:Steve Reiner, Executive Vice
President, Capital Markets & Investor RelationsA-Mark Precious
Metals, Inc.1-310-587-1410sreiner@amark.com
Investor Relations Contact:Matt Glover or Jeff
Grampp, CFAGateway Investor
Relations1-949-574-3860AMRK@gatewayir.com
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