INVESTING: Mint makes gold ownership easy with ETRs

OTTAWA - The Royal Canadian Mint is getting into the gold investment business with its initial public offering of exchange traded receipts (ETR) under its new Canadian Gold Reserves program. Each ETR is proof of ownership of physical gold...

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OTTAWA - The Royal Canadian Mint is getting into the gold investment business with its initial public offering of exchange traded receipts (ETR) under its new Canadian Gold Reserves program. Each ETR is proof of ownership of physical gold bullion held by the Mint at its Ottawa facility.

The Mint says it hopes the IPO will raise $250 million. The issue price per ETR will be $20 or the US dollar equivalent. The ETRs carry an annual service fee of 0.35%. They will be listed on the TSX and begin trading shortly after the IPO closes, probably at the end of this month. The ETRs will be listed in both Canadian and US dollars and may be traded in either currency.

"We believe that this new program will build on our reputation and continued success as a world-class custodian of precious metals," said Ian E. Bennett, president and CEO of the Royal Canadian Mint. "With the introduction of the Canadian Gold Reserves ETR program we hope that investors will see this as a convenient, efficient and secure method for investing in and owning physical gold."

Investors interested in the Gold Reserves ETR program may obtain an information statement by emailing sdcconfims@td.com attention: Symcor, NPM.

The Mint's website is at www.Mint.ca.

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