Business
Claymore Gold Bullion Trust
Claymore Gold Bullion Trust
About this update from Alphagen Intelligence Corp.
[{"type":"text","content":"\n\n\n\nNov. 24, 2009 (Canada NewsWire Group) -- TORONTO, Nov. 24 /CNW/ -- Claymore Investments, Inc. as manager of Claymore Gold Bullion Trust (the \"Fund\") hereby provides notice that all warrants (the \"Warrants\") for the purchase of units of the Fund (the \"Fund Units\") are due to expire at 4:00 p.m. (Toronto time) on Monday, November 30, 2009 (the \"Expiry Time\"). Warrants not exercised by the Expiry Time will be void and of no value.The Fund Units and the Warrants are listed on the Toronto Stock Exchange (\"TSX\") under the symbols CGL.UN and CGL.WT, respectively. Each Warrant entitles the holder thereof to acquire one Fund Unit for $10.00. As of close of business on November 23, 2009, the Fund Units were trading at a price of $10.31 per Fund Unit and the Warrants were trading at a price of $0.29 per Warrant. The current net asset value (\"NAV\") per Fund Unit, as of close of business on November 23, 2009, was $11.35 per Fund Unit ($10.68 per Fund Unit on a fully-diluted basis). The Fund will automatically convert into an exchange-traded fund if, for a period of 10 consecutive trading days, the daily weighted average trading price of the Fund Units is greater than a discount of 2% of NAV per Fund Unit anytime after the Expiry Time.Som Seif, President of Claymore Investments, said that \"This is a great opportunity to acquire a larger stake in the Claymore Gold Bullion Trust knowing that it is currently trading at a discount to its net asset value per Fund Unit and that, if it continues to trade at a discount, it will convert to an ETF.\"All Warrant exercise notices should be directed to the Fund's transfer agent, Equity Transfer & Trust Company. Warrant holders are advised that CDS Inc. and/or investment dealers through which the Warrants are held may impose earlier deadlines for the exercise of Warrants and holders of Warrants should consult with their investment dealers or brokers to ensure that their Warrants are tendered for exercise well in advance of the Expiry Time. The Warrants will cease trading on the TSX with effect from 12:00 noon (Toronto time) on November 30, 2009.As at November 23, 2009, the Fund has 43,561,627 Fund Units and 43,023,373 Warrants issued and outstanding.About Claymore Gold Bullion TrustThe investment objective of the Fund is to replicate the performance of the price of gold bullion, less t...