TORONTO: Precious Metals and Mining Trust (TSX:MMP.UN) (the "Trust") is pleased to announce that it has filed a final short form prospectus in each province and territory of Canada, in connection with its treasury offering (the "Offering") of up to 7,095,553 units of the Trust (the "Units") for gross proceeds up to $75 million. The Agents (as defined below) have been granted an over-allotment option to purchase an additional 1,064,333 Units which, if fully exercised, would bring the total gross proceeds of the Offering to approximately $86.25 million, before deducting the payment of expenses of the Offering by the Trust.
Offering Price: The Offering is priced at $10.57 per Unit, which reflects the Trust's net asset value per Unit of $10.12 as at November 19, 2010, plus the fees and expenses of the Offering.
Use of proceeds: Subject to the Trust's investment restrictions, the net proceeds of this Offering will be invested by the Trust in securities in accordance with the investment objectives and the investment strategy of the Trust.
Precious Metals and Mining Trust: The Trust is a closed-end investment trust that aims to provide unitholders with long-term capital appreciation and monthly cash distributions. The Trust invests in an actively managed portfolio consisting primarily of equity securities of mining issuers, with a current emphasis in the gold sector, listed on a North American stock exchange.
Agents: The syndicate of agents, co-led by RBC Capital Markets and CIBC, includes BMO Capital Markets, Canaccord Genuity Corp., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Corporation, GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc. (the "Agents").
Sentry Investments: Sentry Investments is a Canadian asset management company that offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships, closed-end trusts and other alternative investments, covering a variety of domestic and global mandates.
Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (www.sedar.com).