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TORONTO, Sept. 7, 2011 /CNW/ - Claymore Investments, Inc. is pleased to
announce that Claymore Silver Bullion Trust (the "Fund") has completed
its previously announced follow-on offering (the "Offering") of
1,477,580 U.S. dollar hedged units (the "Hedged Units") at an offering
price of $25.80 per Hedged Unit for gross proceeds of $38,121,564
pursuant to a short form prospectus dated August 30, 2011 (the
"Prospectus"). The Fund has also granted the agents an over-allotment
option which is exercisable in whole or in part to purchase up to an
additional 221,637 Hedged Units at any time during the next 30 days.
The Hedged Units issued pursuant to the Offering will commence trading
today on the Toronto Stock Exchange (the "TSX") under the symbol
The net proceeds of the Offering have been substantially invested in
890,000 ounces of silver bullion at a weighted average price of
US$40.81 per ounce.
The Fund completed its initial public offering of Hedged Units and
warrants on July 15, 2009, and completed an offering of non-hedged
units (the "Non-Hedged Units") on March 4, 2011. The Non-Hedged Units
currently trade on the TSX under the symbol "SVR.C". Non-Hedged Units
are not being offered under the Prospectus.
The Fund's investment objective is to replicate the performance of the
price of silver bullion, less the Fund's expenses and fees. All of the
Fund's physical silver bullion is stored on an allocated basis in the
vaults of The Bank of Nova Scotia, a Canadian Schedule I chartered
bank, or an affiliate or a division thereof, or a sub-custodian. This
strategy will provide investors with the ability to invest in silver
bullion in a convenient, tradable and secure manner without the
associated inconvenience and high transaction, handling, storage,
insurance and other costs typical of direct silver bullion investment.
The Offering was made on a best efforts agency basis in each of the
provinces and territories in Canada through a syndicate of investment
dealers co-led by GMP Securities L.P., Canaccord Genuity Corp. and TD
Securities Inc. and including BMO Nesbitt Burns Inc., National Bank
Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc.,
Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd.,
Macquarie Private Wealth Inc., Haywood Securities Inc., Mackie Research
Capital Corporation, and Rothenberg Capital Management Inc.
About Claymore Investments, Inc.
Claymore Investments, Inc. is a leader in bringing intelligent, low cost
exchange-traded and closed-end funds to Canada through its family of 31
ETFs and two closed-end funds across broad asset classes including core
equity, global sectors, fixed income and commodities. Claymore
Investments, Inc., which, as at August 31, 2011 had approximately $6.7
billion in assets under management, is a wholly-owned subsidiary of
Guggenheim Funds Services Group, Inc., a financial services and asset
management company based in the Chicago, Illinois area and is an
indirect subsidiary of Guggenheim Partners, LLC, ("Guggenheim") a
global, diversified financial services firm with in excess of US$100
billion in assets under supervision. Guggenheim, through its
affiliates, provides investment management, investment advisory,
insurance, investment banking and capital markets services.
For more information investors should consult with their investment
advisor or visit our website at www.claymoreinvestments.ca.
SOURCE Claymore Investments, Inc.
For further information:
For media inquiries, please contact:
Vice President, Marketing, Claymore Investments, Inc.
President, Claymore Investments, Inc.