NEW YORK, May 26, 2023 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy" or "the Company"), a financial services and investment management innovator in the digital asset and blockchain technology sectors, today announced that the Toronto Stock Exchange ("TSX" or the "Exchange") has approved the Company's plan to renew its normal course issuer bid (a "Bid") to purchase up to 10,056,193 ordinary shares (10% of the Company's public float as of May 19, 2023). 

The Company intends to commence the renewed Bid on May 31, 2023. The Bid will terminate on May 30, 2024, or earlier if the maximum number of shares under the Bid have been purchased. The Company reserves the right to terminate the Bid earlier if it feels it is appropriate to do so.

Under Galaxy's prior normal course issuer bid (the "Prior Bid"), which commenced on May 18, 2022, the Company obtained approval to purchase up to a total of 10,596,720 Ordinary Shares. Pursuant to the Prior Bid, the Company purchased, on the open market through the facilities of the TSX and alternative Canadian trading systems, the maximum of 10,596,720 ordinary shares allowed under the Prior Bid at a weighted-average price of approximately $6.65 CAD per Ordinary Share.

The Company may use the program opportunistically at times when it believes that the current market price of its shares does not reflect their intrinsic value and that purchasing its own ordinary shares is consistent with the objective of creating long term shareholder value.

Additional information regarding the Bid:

• Daily purchases will be limited to 210,504 ordinary shares, other than block purchase exceptions. As at May 19, 2023, the Company had 106,209,761 ordinary shares issued and outstanding and a public float of 100,561,931 ordinary shares.
• Subject to approval of the TSX, the Company may enter into a share purchase plan (the "Plan") to facilitate the purchase of ordinary shares pursuant to the bid and under which its broker may purchase ordinary shares according to a prearranged set of criteria. If implemented, the Plan will enable the purchase of ordinary shares at any time, including when the Company would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into will be adopted in accordance with applicable securities laws and announced by press release. Outside of the restricted periods, the timing of purchases will be determined by management of the Company.
• Purchases will be made on the open markets through the facilities of the TSX as well as through alternate trading systems in Canada upon which the shares are traded. The actual number of shares that may be purchased under the Bid, the value of the consideration per share, and the exact timing of any such purchases will be determined by the Company and will depend on, among other things, future market conditions. All shares will be purchased for cancellation.
• All shares purchased by the Company under the Bid will be purchased at the market price at the time of acquisition in accordance with the rules and policies of the TSX and applicable securities laws. All purchases will be funded out of the Company's working capital.
• The Bid has been approved by the Company's Board of Directors.
• The ordinary shares will be purchased on behalf of the Company by Goldman Sachs Canada Inc.
• The average daily trading volume for the six calendar months prior to May 26, 2023 was 842,017 ordinary shares.

About Galaxy

Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia.

Additional information about Galaxy's businesses and products is available on www.galaxy.com

Disclaimers

The TSX has not approved or disapproved of the information contained herein.

CAUTION ABOUT FORWARD-LOOKING STATEMENTS

Certain information in this press release, including, but not limited to, statements regarding the Bid, the Company's use of the Bid and entering into the Plan, 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. Factors that could cause actual outcomes related to the Bid or strategy to differ materially from those described in such forward-looking statements include, but are not limited to, a change in the price of the Company's ordinary shares or in the digital asset market or general economic conditions or regulatory approvals.  These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: the Company may decide not to repurchase any ordinary shares pursuant to the Bid;  the Company's ordinary shares may experience price and trading volume volatility; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors;  changes or events that impact the cryptocurrency industry, including potential regulation, that are out of our control; the risk that our business will not grow in line with our expectations or continue on its current trajectory; the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; and those other risks contained in the Annual Information Form for the year ended December 31, 2022 available on the Company's profile at www.sedar.com.  In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company's normal course of business.  Forward-looking statements are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements. 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 and Galaxy undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.