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Attention Business Editors: Central Gold-Trust Files Final Prospectus for North America's First Gold Bullion Trust Units. ANCASTER, ON, June 26 /CNW/ - Central Gold-Trust is pleased to announce
the filing of its final prospectus for the initial public offering of voting
Units at C$20.00 each for minimum gross proceeds of C$ 25,000,000 and maximum
gross proceeds of C$ 150,000,000.
Central Gold-Trust is a self-governing limited purpose trust established
under the laws of Ontario on April 28, 2003. It was created to invest
substantially all of its assets in unencumbered physical gold bullion, in 400-
ounce international bars, with the primary investment objective of achieving
long-term appreciation in the value of its refined gold bullion holdings.
The objective of Central Gold-Trust is to provide a secure, convenient,
low-cost, exchange tradable investment alternative for investors interested in
gold bullion physically stored in allocated and segregated safekeeping in
Canadian chartered bank treasury vaults.
Sprott Asset Management Inc. and Central Gold Managers Inc., both of
which have significant experience in managing gold bullion investments, will
act as Advisor and Administrator.
Units of Central Gold-Trust are being offered at C$20 per Unit to
Canadian investors and to accredited investors in the U.S. Units will be
eligible as Canadian property for RRSPs, DPSPs, RRIFs and RESPs. Central Gold-
Trust anticipates that the Units will be considered as capital property for
most investors and thereby qualify for capital gains tax treatment. A copy of
the final prospectus which describes in greater detail the tax considerations
applicable to the Units may be obtained from Central Gold-Trust by email
request to info@gold-trust.com and will be available on the Canadian
securities regulators' Website at www.sedar.com . The TSX has conditionally
approved the listing of the Units for trading under the symbol "GTU.UN".
The offering syndicate is being co-led by CIBC World Markets Inc. and RBC
Capital Markets and includes National Bank Financial Inc., Scotia Capital
Inc., TD Securities Inc., Pollitt & Co. Inc., Canaccord Capital Corporation,
Desjardins Securities Inc., Dundee Securities Corporation, First Associates
Investments Inc., Haywood Securities Inc., HSBC Securities (Canada) Inc.,
Raymond James Ltd. and Sprott Securities Inc.
The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or applicable exemption from the registration
requirements. Accordingly, the securities will only be offered or sold in the
United States to certain accredited investors under the U.S. Securities Act of
1933. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any State in which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
-30-
For further information: J.C. Stefan Spicer at (905) 304-4653(GOLD) or write to info@gold-trust.com
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