Claymore Investments announces the conversion of Claymore Gold Bullion Trust
to an ETF
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
The Fund was previously a closed-end fund, the units (the "Fund Units") and warrants of which were offered to the public under a prospectus dated
By converting to an ETF, the Fund is expected to provide unitholders with several important benefits including more efficient trading as the market price of the Fund Units on the TSX should be closer to its intrinsic net asset value, as well as greater market liquidity. The conversion to an ETF will not change the investment objective or investment restrictions of the Fund.
"We are proud to be able to provide investors with Canada's first physical gold bullion ETF which is intended to provide enhanced liquidity to the marketplace in a secure, convenient and low-cost manner," said Som Seif, President of Claymore Investments, Inc.
About Claymore Gold Bullion ETF
The investment objective of the Fund is to replicate the performance of the price of gold bullion, less the Fund's expenses and fees. The Fund does not anticipate making regular distributions on its units. The Fund invests in holdings of gold bullion, in 400 or 100 troy ounce international bar sizes, and does not speculate with regard to short-term changes in gold prices. This strategy provides investors with the ability to obtain exposure to gold bullion in a convenient, tradable and secure 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 Fund currently offers a hedged common unit through which the Fund hedges substantially all of the Fund's US dollar currency value of these units back to the Canadian dollar, providing exposure to gold while reducing the currency risk for Canadian investors.
About Claymore Investments
Claymore Investments, Inc. is a leader in bringing intelligent, low cost exchange traded funds in
For further information about any of the Claymore funds or Claymore Investments, Inc., please contact your financial advisor or visit our website at www.claymoreinvestments.ca
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
The securities being offered have not been and will not be registered under the
For further information: For further information: Sara Beazely, (416) 813-2007, [email protected] -or- Som Seif, President, Claymore Investments, Inc., (866) 417-4640, [email protected]
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