San Antonio, Texas, Jan. 03, 2020 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, today announced that it has entered into a binding letter of intent dated December 30, 2019, with Galileo Global Equity Advisors Inc. ("Galileo") whereby Galileo, pursuant to its capital restructuring, is purchasing back all of its common shares owned by the Company, through its wholly-owned subsidiary, for approximately the same amount that the Company had paid for its investment in Galileo.

The transaction is subject to the approval of Canadian securities regulatory authorities and to the satisfaction of other closing conditions. It is anticipated that the transaction will close on or about March 2, 2020. Michael Waring will continue to serve as the President and Chief Executive Officer of Galileo.

“Streamlining the Company’s operations will allow management to focus on growing the Company’s assets under management in the U.S., in particular our gold and airline ETFs” commented Frank Holmes, CEO and CIO of the Company.

About U.S. Global Investors, Inc.

The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides money management and other services to U.S. Global Investors Funds and U.S. Global ETFs.