Michael Novogratz Acquires Ordinary Shares of Galaxy Digital Holdings Ltd.

Michael Novogratz, Founder and CEO of Galaxy Digital Holdings Ltd. (TSXV: GLXY; Frankfurt: 7LX) (“Galaxy Digital” or the “Company“), today reported that he acquired 2,591,100 ordinary shares (the “Shares“) of the Company for total proceeds of C$6,218,640. The Shares represented approximately 0.92% of the issued and outstanding ordinary shares of the Company as of June 25, 2019 (the “Ordinary Shares“) (assuming conversion of the GDH B Units (defined below) held by Mr. Novogratz).

The acquisition of the Shares by Mr. Novogratz was completed on the TSX Venture Exchange pursuant to the “private agreement exemption” in Section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. Mr. Novogratz is entitled to rely on this exemption as: (a) purchases were made from not more than 5 persons in the aggregate; (b) the bid was not made generally to securityholders of the Ordinary Shares; and (c) the consideration paid for the Ordinary Shares is not greater than 115% of the market price of such securities. This acquisition will be reported on the System for Electronic Disclosure by Insiders (SEDI) and took place on June 26, 2019 at a price of C$2.40 per Share.

Prior to the acquisition of the Shares, Mr. Novogratz beneficially owned 213,696,000 Class B limited partnership units (“GDH B Units“) of Galaxy Digital Holdings LP (“GDH LP“) and 7,500,768 Ordinary Shares, which represented approximately 78.82% of the issued and outstanding Ordinary Shares on June 25, 2019 (assuming conversion of the GDH B Units held by Mr. Novogratz).  Each GDH B Unit is, pursuant to the terms of the GDH LP Third Amended and Restated Limited Partnership Agreement, and subject to certain limitations, exchangeable for Ordinary Shares on a one-for-one basis subject to customary adjustments for stock splits, stock dividends and reclassifications and other similar transactions. Following the acquisition of the Shares, Mr. Novogratz owns and controls, directly or indirectly, on a fully converted basis, 223,787,868 Ordinary Shares, representing approximately 79.75% of the issued and outstanding Ordinary Shares on June 25, 2019 (assuming conversion of the GDH B Units held by Mr. Novogratz).

Michael Novogratz acquired the Shares for investment purposes. Mr. Novogratz may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company. For further information, please see the Company’s profile on SEDAR at www.sedar.com.

The Company’s headquarters is located at 107 Grand Street, New York, New York, 10013, USA.

SOURCE Galaxy Digital Holdings Ltd.