March 19, 2021 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, has closed its previously announced acquisition of the 79.5% of the issued and outstanding shares of JM Bullion, Inc. (JMB), a leading e-commerce retailer of precious metals, not previously owned by A-Mark.
“Today is a significant day for A-Mark’s and JMB’s employees, customers, partners, and shareholders, as we complete the acquisition of JMB and create the industry’s preeminent fully integrated precious metals platform,” said A-Mark CEO Greg Roberts. “As the anchor to our multifaceted direct-to-retail strategy, JMB enables us to more effectively capitalize on the growing demand for precious metals through online and e-commerce channels.”
...
In connection with the acquisition, JMB CEO and Co-Founder Michael Wittmeyer and Chairman Kendall Saville joined A-Mark’s board of directors. Mr. Wittmeyer also assumed the role of Executive VP of A-Mark’s Direct Sales segment, which includes A-Mark’s existing Goldline business.
Mr. Wittmeyer has entered into an employment agreement with JMB effective as of the closing, for a term ending June 30, 2024. ...