Not for distribution to U.S. newswire services or dissemination in the
United States
OTTAWA, Feb. 27, 2014 /CNW/ - (TSX: MNT/TSX: MNT.U) The Royal Canadian
Mint is pleased to announce the addition of an optional feature to its
gold Exchange-Traded Receipt (ETR) physical redemption process.
On September 19, 2013 the Mint announced the intent to add the
feature. Effective March 17, 2014 an investor opting for a gold
physical redemption can opt to have the Mint facilitate the sale of the
resulting gold bullion. The proceeds of the sale will be wired to the
investor's brokerage or custodian. The gold price will be determined
by the London Bullion Market Association PM Fix price (in US dollars)
two business days after the monthly Redemption Date.
An ETR holder opting to use this service will be required to pay a
facilitated sale fee of 13 bps (subject to a minimum fee of US$5,000)
plus applicable taxes. This fee is in addition to the physical
redemption fees.
Existing cash and physical redemption options remain available for
investors. Additional information on the redemption process, including
this feature, can be found on the program website www.reserves.mint.ca under the heading "Redemption".
Each ETR provides its holder with direct legal and beneficial ownership
in physical gold bullion held in the custody of the Mint at its
facilities in Ottawa, Ontario.
An investment in ETRs involves a degree of risk. These risks result
primarily from fluctuations in the price of gold. A detailed
description of these risks and other important information about the
ETRs and the Canadian Gold Reserves program is contained in the
information statement dated September 17, 2013 (the "Information
Statement"), which is available at www.reserves.mint.ca and www.sedar.com. ETR holders have no recourse to the Mint or the Government of Canada
for any loss on their investment.
The ETRs have not been and will not be registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This media release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any offer,
solicitation or sale of the ETRs in any jurisdiction in which such an
offer, solicitation or sale would be unlawful.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown Corporation responsible for the
minting and distribution of Canada's circulation coins. An ISO
9001-2008 certified company, the Mint is recognized as one of the
largest and most versatile mints in the world, offering a wide range of
specialized, high quality coinage products and related services on an
international scale. The Mint has issued exchange-traded receipts under
its Canadian Gold Reserves (TSX: MNT/MNT.U) and Canadian Silver
Reserves (TSX: MNS/MNS.U) programs, which provide holders with direct
legal and beneficial ownership in physical bullion held in the custody
of the Mint at its facilities. For more information on the Mint, its
products and services, visit www.mint.ca.
This release contains forward-looking information within the meaning of
applicable securities laws in Canada ("forward-looking information").
The forward-looking information in this release includes, without
limitation, the Mint's intention to offer an additional optional
service under its physical redemption program. All forward-looking
information is given pursuant to the safe harbour provisions of
applicable Canadian securities legislation. The words "anticipates",
"believes", "budgets", "could", "estimates", "expects", "forecasts",
"intends", "may", "might", "plans", "projects", "schedule", "should",
"will", "would" and similar expressions are often intended to identify
forward-looking information, although not all forward-looking
information contains these identifying words. The forward-looking
information reflects management's current beliefs and is based on
assumptions developed using information currently available to the
Mint's management. Although the Mint believes that the forward-looking
statements are based on information and assumptions which are current,
reasonable and complete, these statements are necessarily subject to a
variety of risks and uncertainties. For additional information on risk
factors that have the potential to affect the ETRs, the Canadian Gold
Reserves program or the Mint, reference should be made to the
Information Statement, which may be accessed in the manner described
above. Except as required by law, the Mint undertakes no obligation to
revise or update any forward-looking information as a result of new
information, future events or otherwise after the date hereof.
SOURCE Royal Canadian Mint
