/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, June 11 /CNW/ - Claymore Investments, Inc. is pleased to
announce that Claymore Silver Bullion Trust (the "Fund") has filed a
preliminary prospectus in connection with its initial public offering (the
"Offering") of units (the "Units"), whereby the Fund proposes to issue Units
comprised of one transferable trust unit (the "Fund Units") of the Fund and
one warrant, which is exercisable for $10.00 at any time before 4:00 p.m.
(Toronto time) on the date that is 6 months following the closing of the
Offering. The offering price of the Units is $10.00 per Unit.
The Fund's investment objective is to replicate the performance of the
price of silver bullion, less the Fund's expenses and fees. This objective
will be accomplished by the Fund investing the net proceeds of the Offering in
holdings of unencumbered silver bullion. 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
Given that silver bullion is priced in US dollars, the Fund will hedge
substantially all of the Fund's US dollar currency value back to the Canadian
dollar, providing exposure to silver while reducing the currency risk for
The Fund will automatically convert into an exchange-traded fund if the
Fund Units trade at a discount to net asset value after the date that is 6
months following the closing of the Offering.
The Offering is being made on a best efforts basis in each of the
provinces and territories in Canada through a syndicate of investment dealers
led by GMP Securities L.P. and TD Securities Inc., and including Canaccord
Capital Corporation, BMO Nesbitt Burns Inc., Scotia Capital Inc., Dundee
Securities Corporation, National Bank Financial Inc., Blackmont Capital Inc.,
Haywood Securities Inc., Raymond James Ltd., Research Capital Corporation,
Wellington West Capital Markets Inc., Desjardins Securities Inc., Genuity
Capital Markets, HSBC Securities (Canada) Inc., Richardson Partners Financial
Limited and Rothenberg Capital Management Inc.
About Claymore Investments
Claymore Investments, Inc. is a leader in bringing intelligent, low cost
exchange traded funds in Canada through its family of 23 ETFs and 3 closed-end
funds across broad asset classes including core equity, global sectors, fixed
income and commodities and includes the Claymore Gold Bullion Trust (TSX:
CGL.UN, CGL.WT). Claymore Investments, Inc., which, as of May 31, 2009 had
approximately $2.2 billion in assets under management, is a wholly-owned
subsidiary of Claymore Group, Inc., a financial services and asset management
company based in the Chicago, Illinois area. In aggregate, Claymore Group Inc.
and its affiliates have approximately 176 employees providing supervisory,
management, servicing or distribution services on approximately US$11 billion
in assets as of April 30, 2009.
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.
For more information investors should consult with their investment
advisor or visit our website at www.claymoreinvestments.ca.
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in each of the provinces and territories of Canada. The
preliminary prospectus is still subject to completion or amendment. Copies of
the preliminary prospectus may be obtained from your IIROC registered
financial advisor. There will not be any sale or any acceptance of an offer to
buy the securities until a receipt for the final prospectus has been issued.
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,