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Mene Inc. (MENEF) is a leading online retailer of investment-grade gold and platinum jewelry. The company offers transparent pricing based on the daily metal prices and weight of the jewelry, making it a unique player in the industry. Mene's innovative business model allows customers to invest in jewelry as an asset class while enjoying timeless designs and craftsmanship. With a strong focus on sustainability and ethical practices, Mene Inc. is disrupting the traditional jewelry market.
Menē Inc. (TSX-V:MENE) (US:MENEF), an online 24 karat jewelry brand, has announced a change in its Chief Financial Officer position. Sean Ty has been appointed as the new CFO, replacing Gavin Johnson, who resigned for personal reasons. The change is effective immediately.
Mr. Ty brings a diverse background to the role. He began his career at Ernst and Young, working in the commercial real estate, technology, and financial services audit team. He has experience managing financial reporting, IFRS, and finance operations for several Canadian listed companies in the technology and natural resource sectors. Mr. Ty holds a Bachelor of Science Degree from the University of British Columbia and is a Chartered Professional Accountant.
The company expressed gratitude to Mr. Johnson for his dedicated service and extended a warm welcome to Mr. Ty in his new role.
Menē Inc. (TSX-V:MENE) (US:MENEF), an online 24 karat jewelry brand, has announced the cancellation and re-grant of 7,469,437 incentive stock options to its Chief Executive Officer. The stock options are for purchasing Class B subordinate voting shares under the company's incentive stock option plan. This action requires disinterested shareholder approval, which the company plans to seek at its next annual general and special meeting scheduled for October 10, 2024.
Subject to shareholder and TSX Venture Exchange approval, the stock options will be exercisable at $0.085 per Class B Share. They will vest in five tranches from 2024 to 2028, with approximately 1.49 million options vesting each year. The stock options have a ten-year term from the original grant date of September 7, 2023.
Menē Inc. (TSX-V:MENE) (US:MENEF), an online 24 karat jewelry brand, reported financial results for Q2 2024. Revenue increased 30% YoY to $6.5 million, with a gross profit of $1.7 million and a 26% margin. The company sold 58 kg of jewelry, totaling 5,799 units. Sales to returning customers accounted for 72% of total sales. Despite revenue growth, Menē reported a total comprehensive loss of $0.3 million, up $0.5 million YoY. The company introduced 22 new product designs and launched the Olympia collection. CEO Vincent Gladu emphasized focus on building a lasting brand and implementing operational changes for long-term, sustainable, and profitable growth.
Menē Inc. (TSX-V: MENE, US: MENEF), a 24 karat online jewelry brand, announced its Q1 2024 financial results. Revenue fell by 32% YoY to $4.8 million, and the company reported a gross profit of $1.1 million with a 24% margin. However, it experienced a comprehensive loss of $0.7 million, a $0.2 million increase YoY. Menē sold 45 kg of jewelry, totaling 4,979 units. Operationally, 13 new designs were launched, and 71% of sales came from returning customers. The company’s total gold held by customers surpassed CAD$100 million, and cumulative jewelry units sold reached 147,000.
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