The Marygold Companies Secures Private Placement to Finance Next-Stage Rollout Initiatives for Recently Developed Fintech Product

-Company Enters Note Purchase Agreement for up to $6.56 Million-

SAN CLEMENTE, Calif., September 24, 2024-The Marygold Companies, Inc. ("TMC" or the "Company") (NYSE American: MGLD), a diversified global holding firm, today announced it has secured $4.38 million in funding as part of a $6.56 million total private placement with an institutional investment firm, through the sale of the Company's secured promissory note.

Net proceeds will be used exclusively to implement next-stage initiatives for the Company's Marygold & Co. project, including initial marketing of its recently developed fintech app., a digital platform alternative to traditional banking that enables users to spend, invest and save.

"As part of our strategic plan to develop and test the viability of the platform, we invested more than $15 million over the past five years from cash and profits internally generated by our operating subsidiaries," said Nicholas Gerber, TMC's chief executive officer. "With the critical development and initial testing phase now successfully behind us, we are pleased to have attracted external funding for the rollout stage, which we believe attests to the uniqueness of the app and the long-term potential of its commercial success.

"The app was soft-launched in the U.S. in 2023 by our Denver-based subsidiary, Marygold & Co., and plans are underway for further U.S. market penetration. Through our Marygold & Co. (UK) subsidiary, we recently acquired two UK-based investment advisory firms with established client bases that we believe will provide a solid marketing foundation when we introduce the app in the U.K. later this year," Gerber added.

The app, which features a digital wallet as well as a physical debit card, is akin to having a fully secured, private banking experience on a cell phone to manage finances anywhere, anytime, with no banking fees or minimums. It allows users to organize finances, while helping them save for personal financial goals. It is currently available in the U.S. at no cost in both Apple and Google app stores for iOS and Android devices. Additional features include unlimited money pool investing, with customized portfolios and user-selected time-based objectives; PayAnyone™ capability, authorizing users to send payments to anyone in the U.S., regardless of whether they have a Marygold & Co. account; contactless payment options; and more.

Maxim Group LLC served as exclusive agent for the private placement. Funding for the second portion is anticipated for January 2025, subject to satisfaction of certain conditions, with expected proceeds to TMC before expenses of approximately $2.0 million. A full description of the terms and conditions of the transaction, as well as the exhibits filed therewith, can be found in the Company's Current Report on Form 8-K, filed today with the SEC and available at www.sec.gov.

Securities associated with the private placement have not been registered under the Securities Act of 1933, as amended, and may not be resold in the U.S., except pursuant to an effective registration statement with the U.S. Securities and Exchange Commission, or an exemption from registration under the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of associated securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.