Michael Novogratz Donates Ordinary Shares of Galaxy Digital Holdings Ltd.

NEW YORK, Sept. 1, 2020 /CNW/ - Michael Novogratz, Founder and CEO of Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital" or the "Company"), today reported that an entity that he beneficially owns, Novofam Macro LLC, donated 5,000,000 ordinary shares of the Company (the "Ordinary Shares") on September 1, 2020, having a value of C$23,800,000 (the "September Donation"). The September Donation represented approximately 1.8% of the issued and outstanding Ordinary Shares as of September 1, 2020 (the "Ordinary Shares") (assuming conversion of the GDH B Units (defined below) beneficially held by Mr. Novogratz). This donation was in addition to a donation made on August 17, 2020 of 5,000,000 Ordinary Shares having a value of C$18,800,000 (together with the September Donation, the "Donation"). The Donation represents approximately 3.6% of the Ordinary Shares (assuming conversion of the GDH B Units (defined below) beneficially held by Mr. Novogratz) as of September 1, 2020.

Prior to the Donation, Mr. Novogratz beneficially owned 213,696,000 Class B limited partnership units ("GDH B Units") of Galaxy Digital Holdings LP ("GDH LP") and 10,522,945 Ordinary Shares, which represented approximately 80.5% of the issued and outstanding Ordinary Shares on September 1, 2020 (assuming conversion of the GDH B Units beneficially held by Mr. Novogratz). Each GDH B Unit is, pursuant to the terms of the GDH LP Fourth 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 Donation, Mr. Novogratz owns and controls, directly or indirectly, on a fully converted basis, 214,218,945 Ordinary Shares, representing approximately 76.9% of the issued and outstanding Ordinary Shares on September 1, 2020 (assuming conversion of the GDH B Units beneficially held by Mr. Novogratz).

Michael Novogratz contributed the Donation to a donor advised fund. The Donation will be used to fund criminal justice and non-profit projects driving towards systemic change. The Donation is a disposition by gift for no consideration and has been, or will be, reported on the System for Electronic Disclosure by Insiders (SEDI), as applicable.

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. A copy of the early warning report in respect of the Donation can be obtained from Michael Novogratz through the Company's Investor Relations department at 212-390-9216.  The Company's headquarters is located at 107 Grand Street, New York, New York, 10013, USA.

About Galaxy Digital 

Galaxy Digital is a diversified, multi-service merchant bank dedicated to the digital assets and blockchain technology industry.  Galaxy Digital's team has extensive experience spanning investing, portfolio management, capital markets, operations, asset management, and blockchain technology.  Galaxy Digital currently operates four distinct business lines, which include: Trading, Asset Management, Principal Investments and Investment Banking.  Galaxy Digital's CEO and Founder is Michael Novogratz.  The Company is headquartered in New York City, with offices in London, Tokyo, Hong Kong, the Cayman Islands (registered office) and New Jersey.  Additional information about the Company's businesses and products is available on www.galaxydigital.io.

Forward-Looking Statements

Certain information in this press release, including, but not limited to, statements regarding Mr. Novogratz' future plans, 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. As a result, you should not place undue reliance on such forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Galaxy Digital is contained in Galaxy Digital's filings with the Canadian securities regulators available at www.sedar.com. These risks include those discussed in the risks and uncertainties section in the Company's Annual Information Form for the year ended December 31, 2019. 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.

SOURCE Galaxy Digital Holdings Ltd.

Michael Novogratz, 107 Grand Street, New York, New York, 10013, USA; Prosek (for media inquiries on behalf of Mr. Novogratz), Mike Geller, Managing Director, Email: [email protected], Tel: [phone]