The Marygold Companies Acquires Ownership Stake in Savings and Loan Association Holding Company

-$1.8 Million Investment Affirms Marygold’s Corporate Strategy of Focusing on Financial Services/Fintech Sector-

SAN CLEMENTE, Calif.--(BUSINESS WIRE)--The Marygold Companies, Inc. ("TMC" or the "Company") (NYSE American: MGLD), a diversified global holding firm, today announced it has acquired a 7.95% ownership position, investing $1.8 million, in Delaware based Midland Capital Holdings Corporation (MCHC), a privately owned holding company whose principal operating entity is Midland Federal Savings and Loan Association (“Midland Federal”), headquartered in Bridgeview, Illinois.

Operating continuously in the greater Chicago area since 1914, Midland Federal has total assets of approximately $115 million, with four full-service branch offices—two in Chicago, and in nearby Bridgeview and Homer Glen, Illinois.

As part of the transaction, TMC also holds 180,044 warrants to purchase 180,044 additional shares of MCHC at an exercise price of $22.25. The warrants expire on February 27, 2034.

“The transaction affirms our corporate strategy and focus on the financial services and fintech sector,” said Nicholas Gerber, CEO of TMC. “It follows our recent acquisitions of UK-based investment advisory firms Tiger Financial & Asset Management and Step By Step Financial Planners, which are now wholly owned TMC indirect subsidiaries, plus our long-established ETF management subsidiary, USCF Investments, with approximately $3.2 billion in assets under management.

“In addition, we recently completed the development and have initiated marketing of an innovative mobile fintech app that enables users to spend, invest and save. The app was soft-launched in the U.S. last year, with plans underway for further market penetration in the U.S. and introduction in the UK later this year,” Gerber added.

Joe Kirkeeng, who serves as Chief Executive Officer of both MCHC and Midland Federal, said, "We are pleased that TMC, with its expertise in financial services, has become a significant investor in our company. With the acquisition of Midland Federal, we look forward to expanding the bank’s offerings and further enhancing technology, while serving our community by offering the same outstanding service and convenience our customers have come to expect.”

About The Marygold Companies, Inc.

The Marygold Companies was founded in 1996 and repositioned as a global holding firm 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, Marygold & Co., Tiger Financial & Asset Management Limited, Step By Step Financial Planners, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout, respectively. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit www.themarygoldcompanies.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may” “will,” “could,” “should” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements, including, but not limited to, further market penetration of the Company’s fintech app in the U.S. and introducing the Company’s mobile fintech app in the UK later this year, involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, satisfaction of customary closing conditions related to the offering, the expected timing of the closing of the offering and the risks disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission and in the Company’s other filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any 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 revisions to any of the forward-looking statements contained in this press release.