/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, May 29 /CNW/ - Claymore Investments, Inc. ("Claymore") is
pleased to announce that Claymore Gold Bullion Trust (the "Trust") has
substantially invested the net proceeds of its initial public offering (the
"Offering") and has purchased 345,000 ounces of gold at a weighted average
price of U.S.$959.05 per ounce on a fully-hedged basis. The Trust has retained
a nominal amount of cash for further gold bullion purchases and working
The net asset value ("NAV") of the Trust as at the end of business on
Thursday, May 28, 2009 was $9.4123, which value is based on the London PM Fix
Gold price of U.S.$957.75 per ounce. Both the NAV and fully-diluted NAV of the
Trust will be updated on a daily basis and are available on Claymore's website
In connection with the Offering, the Trust issued units comprised of one
transferable trust unit (a "Unit") and one warrant (a "Warrant"), which is
exercisable to acquire an additional Unit for $10.00 at any time before 4:00
p.m. (Toronto Time) on November 28, 2009. The Units and Warrants are listed on
the Toronto Stock Exchange under the symbol CGL.UN. and CGL.WT, respectively.
The Trust's investment objective is to replicate the performance of the
price of gold bullion, less the Trust's expenses and fees. This objective will
be accomplished by the Trust investing its assets in holdings of physical gold
bullion thereby providing investors with the ability to invest in gold bullion
in a secure, low-cost and convenient manner without the associated
inconvenience and high transaction, handling, storage, insurance and other
costs typical of direct gold bullion investment.
Given that gold bullion is priced in US dollars, the Trust will hedge
substantially all of the Trust's US dollar currency value back to the Canadian
dollar, providing exposure to gold while reducing the currency risk for
About Claymore Investments
Claymore Investments, Inc. is a leader in bringing intelligent, low cost
exchange traded Trusts in Canada through its family of 23 ETFs across broad
asset classes including core equity, global sectors, fixed income and
commodities. Claymore Investments, Inc. is a wholly-owned subsidiary of
Claymore Group, Inc., a financial services and asset management company based
in the Chicago, Illinois area. Claymore Group entities provide supervision,
management, servicing or distribution on approximately US$10 billion in assets
as of March 31, 2009.
For more information investors should consult with their investment
advisor or visit our website at www.claymoreinvestments.ca.
This offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered. Copies of
the prospectus may be obtained from your IIROC registered financial advisor.
Investors should read the prospectus before making an investment decision.
The securities being offered have not been and will not be registered
under the United States Securities Act of 1933 (the "U.S. Securities Act"), as
amended, and such securities may not be offered or sold in the United States
or to U.S. persons (as defined in Regulation S under the U.S. Securities Act)
absent registration or an applicable exemption from registration requirements.
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 these securities in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
This press release is not an invitation nor is it intended to be an
inducement to engage in investment activity for the purpose of Section 21 of
the Financial Services and Markets Act 2000 ("FSMA") of the United Kingdom.
This press release is in any event directed only at persons outside the United
Kingdom or persons reasonably believed to be sufficiently expert to understand
the risks involved and who are authorised or exempted persons within the
meaning of the FSMA or any order made thereunder, or to persons to whom it can
otherwise be lawfully directed, including in particular those persons falling
within the following Articles of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended: Article 19 (Investment
Professionals) and Article 49 (High Net Worth Companies). This press release
is not intended to be distributed or passed on, directly, or indirectly, to
any other class of persons in the United Kingdom and is being supplied to you
solely for your information. In addition, this press release is not directed
to the public in any Member State of the European Economic Area (including
Members of the European Union plus Iceland, Liechtenstein and Norway) which
has implemented Directive 2003/71/EC (the "Prospectus Directive") except (a)
to legal entities which are authorised or regulated to operate in the
financial markets or, if not so authorised or regulated, whose corporate
purpose is solely to invest in securities; or (b) to any legal entity that has
two or more of (i) an average of at least 250 employees during the last
financial year; (ii) a balance sheet with a total balance of more than EUR
43,000,000; and (iii) an annual net turnover of more than EUR 50,000,000; in
the case of (ii) and (iii) as shown in its last annual or consolidated
accounts; or (c) in any other circumstances which do not require the
publication of a prospectus pursuant to Article 3 of the Prospectus Directive.
For further information:
For further information: For media inquiries, please contact: Sara
Beazely, (416) 813-2007, firstname.lastname@example.org; or Som Seif,
President, Claymore Investments, Inc., (866) 417-4640,