Sprott Physical Gold Trust Announces Completion of Its Follow-on Offering of Trust Units

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Feb. 3, 2012 /CNW/ - Sprott Physical Gold Trust (the \"Trust\")\n (NYSE: PHYS / TSX: PHY.U), a trust created to invest and hold\n substantially all of its assets in physical gold bullion and managed by\n Sprott Asset Management LP, today announced that it has completed its\n follow-on offering of 20,000,000 transferable, redeemable units of the\n Trust (the \"Units\") at US$15.19 per Unit for gross proceeds of\n US$303,800,000 (the \"Offering\").\n\n\nThe Trust will use the net proceeds of the Offering to acquire physical\n gold bullion in accordance with the Trust's objective and subject to\n the Trust's investment and operating restrictions described in the\n prospectus related to the Offering.  The net proceeds of the Offering\n per Unit are greater than 100% of the most recently calculated net\n asset value per Unit of the Trust prior to, or upon determination of,\n pricing of the Offering, as required under the trust agreement\n governing the Trust.\n\n\nThe Units are listed on the NYSE Arca and the Toronto Stock Exchange\n under the symbols \"PHYS\" and \"PHY.U\", respectively. The Offering was\n made simultaneously in the United States and Canada by underwriters led\n by Morgan Stanley and RBC Capital Markets in the United States and RBC\n Capital Markets and Morgan Stanley in Canada.\n\n\nThis news release does not constitute an offer to sell or a solicitation\n of an offer to buy the Units, nor shall there be any sale of the Units\n in any state or jurisdiction in which such an offer, solicitation or\n sale would be unlawful prior to registration or qualification under the\n securities laws of any such jurisdiction.\n\n\nAdditional details on the Trust can be found in the final prospectus\n available on EDGAR (www.edgar.com) and SEDAR (www.sedar.com) or on the Trust's website at www.sprottphysicalgoldtrust.com.\n\n\n Investor contact information: Telephone: (416) 203-2310 Toll Free: 1 (877) 403-2310 Email: [email protected] \n","length":2235,"tagName":"div"}]

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