--Company Reports Consolidated Profits, as Investment Continues with Development of Marygold Mobile Fintech App--

The Marygold Companies, Inc. (NYSE American: MGLD) (the “Company” or “The Marygold Companies”) (formerly Concierge Technologies, Inc.), a diversified global holding firm, today reported financial results for the third fiscal quarter and nine months ended March 31, 2022.

On March 14, 2022, the Company completed an upsized underwritten public offering (which included the exercise, in full, of the over-allotment option) of an aggregate of 1,897,500 shares of common stock at $2.00 per share, receiving gross proceeds of approximately $3.7 million. Maxim Group LLC acted as sole book-running manager for the transaction.

“Our third fiscal quarter marked a milestone in the Company’s history and the start of a new era in our corporate development,” said Nicholas Gerber, Chief Executive Officer of The Marygold Companies. “With the up-listing of our shares to the NYSE American LLC, and our new ticker symbol to go with the change in our corporate name, the message is clear that our focus is on achieving solid returns for our shareholders.

“Our new corporate name signifies the Company’s evolution since its formation as a global holding firm in 2015, while the NYSE American listing is providing greater liquidity for our shareholders. Through hard work and dedication, our entire team has enabled us to achieve both of these longstanding objectives. To those shareholders who have been with us since 2002, thank you for your patience.”

Revenues for the third fiscal quarter totaled $9 million, compared with $10 million a year ago. Net income for the most recent three-month period was $0.9 million, equal to $0.02 per fully diluted per share, compared with $1.6 million, or $0.04 per fully diluted share, last year. Assets under management at our USCF Investments subsidiary continued strong at approximately $5 billion as of March 31, 2022.

“While on a consolidated basis we were profitable for the third quarter, the Company’s consumer-based subsidiary performances were impacted by several factors, including global supply chain issues, coupled with markedly higher shipping costs in New Zealand and the U.S., which contributed to lower profit margins. We also continued to invest in our Marygold & Co. subsidiary, which is completing the development of a mobile fintech app. Costs related to that development are expensed at the parent level, and are a major component of the differences in net income for the comparative quarterly periods,” said David Neibert, The Marygold Companies’ Chief Operations Officer. “As the Marygold mobile app is finalized, and the effects of the COVID pandemic begin to ease, we are expecting expenses and cost of goods sold to return to lower levels.”

For the nine months ended March 31, 2022, consolidated revenues totaled $28 million, compared with $30 million for the same period last year. Net income for the nine-month period amounted to $12 thousand, equal to breakeven per share, versus net income of $5 million, or $0.13 per fully diluted share, for the comparable period last year. The decrease in net income for the current year-to-date period was primarily due to the $2.5 million settlement in connection with the Company’s indirect subsidiary, United States Commodity Funds, LLC, and United States Oil Fund, LP, which are related business units of USCF Investments. Also contributing to lower earnings were the fintech app development costs, which totaled $1.5 million for the nine months ended March 31, 2022.

The Marygold Companies’ balance sheet at March 31, 2022 showed a continuing trend of strengthening. Total assets rose to $34 million, from $32 million as of June 30, 2021. Cash and cash equivalents remained at $16 million while stockholders’ equity increased to $28 million as of March 31, 2022, from $25 million as of June 30, 2021. The Company remains essentially debt free.

“We are tremendously excited about the development of the Marygold app, which is nearing completion. We believe the finished mobile app will be embraced as a unique fintech offering, enabling consumers to send, receive, spend, save, invest, and earn money securely through mobile devices. Beta testing is expected to begin within the coming months, and the app is expected to be launched before the end of calendar 2022,” Gerber added, “To monitor its progress or enroll on the user wait list, please visit the website at www.marygoldandco.com."

Business Units

Gourmet Foods, https://gourmetfoodsltd.co.nz/, acquired in August 2015, is a commercial-scale bakery that produces and distributes iconic meat pies and pastries throughout New Zealand under the brand names Pat’s Pantry and Ponsonby Pies. Acquired by Gourmet Foods in July 2020, Printstock Products Limited https://www.printstocknz.com/, is a printer of specialized food wrappers and is located in Napier, New Zealand. Its operations are consolidated with those of Gourmet Foods.

Brigadier Security Systems, www.brigadiersecurity.com, acquired in June 2016 and headquartered in Saskatoon, Canada, provides comprehensive security solutions to homes and businesses, government offices, schools and other public buildings throughout the province under the brands Brigadier Security Systems in Saskatoon and Elite Security in Regina, Canada.

The Company’s USCF Investments subsidiary, www.uscfinvestments.com, acquired in December 2016 and based in Walnut Creek, Calif., serves as manager, operator or investment adviser to 10 exchange traded products, structured as limited partnerships or investment trusts that issue shares trading on the NYSE Arca.

Acquired at the end of 2017, San Clemente, Calif.-based Original Sprout, www.originalsprout.com, produces and distributes a full line of vegan, safe, non-toxic hair and skin care products, including a “reef safe” sun screen, in the U.S. and its territories, the U.K., E.U., Turkey, Middle East, Africa, Taiwan, Mexico, South America, Singapore, Hong Kong, Malaysia, New Zealand, Australia and Canada among other areas.

Marygold & Co., formed in the U.S. during 2019 and operating from offices in Denver, CO, together with its wholly owned subsidiary, Marygold & Co. Advisory Services, LLC, was established to explore opportunities in the financial technology sector. The company continues in the development stage as it works toward introduction of a fintech mobile banking app. https://marygoldandco.com/.

Marygold & Co. (UK) Limited, formed in the U.K. in 2021 and located in London, England for the purpose of acquiring interests in certified financial advisors and asset managers in the U.K. No acquisitions have yet been completed, however certain agreements are in place that remain subject to completion of customary closing conditions prior consummation.

About The Marygold Companies, Inc.

The Marygold Companies, which changed its corporate name from Concierge Technologies, Inc. in March 2022, was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in financial services, food manufacturing, printing, security systems and beauty products. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit www.themarygoldcompanies.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may” “will,” “could,” “should” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements, including, but not limited to the launch of the Company’s fintech mobile banking app, involve significant risks and uncertainties that could cause actual results to differ materially from the expected results and, consequently, should not be relied upon as predictions of future events. These forward-looking statements, including the factors disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 22, 2021, and in the Company’s other filings with the Securities and Exchange Commission, are not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

(Financial tables follow)

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