TORONTO, Dec. 17, 2015 /CNW/ - Polar Asset Management Partners Inc. (formerly Polar Securities Inc.) ("Polar") announced today that it welcomes the agreement between Sprott Asset Management LP and certain affiliates ("Sprott") and Purpose Investments Inc. ("Purpose"), among others, in connection with Sprott's offer to acquire all of the outstanding units of Central GoldTrust ("GTU") (TSX:GTU.UN) (TSX:GTU.U) (NYSEMKT:GTU) and Silver Bullion Trust ("SBT") (TSX:SBT.UN) (TSX:SBT.U).
"As the largest unitholder of SBT and one of the largest unitholders of GTU, we are pleased that our long-stated objective, to reduce the persistent trading discount of GTU and SBT Units to their respective NAVs, appears likely to be accomplished. We remain fully committed to Sprott's offer for units of GTU and intend to vote in favour of SBT's conversion to an ETF under Purpose's management. The proposals by Sprott and Purpose have ultimately accomplished what we started almost one year ago, and we are pleased that the logic of the market has prevailed" said Paul Sabourin, Chairman and CIO of Polar.
POLAR ASSET MANAGEMENT PARTNERS INC.
Established in 1991, Polar is registered as an Investment Dealer, Investment Fund Manager and Futures Commission Merchant with the Ontario Securities Commission and is a member of the Investment Industry Regulatory Organization of Canada. Polar acts as the investment manager for certain investment funds and manages over CAD$2 billion of client funds. Polar's investment philosophy focuses on capital preservation and low volatility.
SOURCE Polar Asset Management Partners Inc.
For further information: Riyaz Lalani, Bayfield Strategy, Inc., (416) 907-9365, [email protected]