TORONTO: The Board of Directors of Sentry Select Primary Metals Corp. (the Corporation”) announces that it will seek shareholder approval to implement a mandatory market purchase program (the “Program”). A special meeting of shareholders will be held on March 25, 2008, 10 a.m. at the Ridout Room of the Toronto Board of Trade, First Canadian Place, 100 King Street West, Toronto. The record date for the purpose of determining the shareholders entitled to receive notice and vote at the meetings will be the close of business on February 18, 2008.
Mandatory Market Purchase Program: Under the Program, the Corporation will be obligated to purchase any shares offered in the market at the then prevailing market price, if shares are offered at prices that are less than 95% of the latest determined net asset value (“NAV”) per share. The purchases are subject to a maximum amount in any three month period of 1.25% of the number of shares outstanding at the beginning of such period. The manager believes that the Program will be effective in decreasing any potential spread between the NAV per share and the market price of the shares and will enhance the liquidity of the shares. Purchases of shares for cancellation at less than NAV per share should also have the effect of increasing the NAV per share.
Trading information: The Class A Shares and the Warrants trade on the Toronto Stock Exchange (“TSX”) under the symbols PME and PME.WT, respectively.
Sentry Select Primary Metals Corp.: The Corporation’s investment objective is to provide shareholders with long-term capital appreciation by investing in an actively managed portfolio consisting primarily of securities of mining and exploration issuers. For at least the first three years, the manager intends to focus on issuers that are engaged in the production of and/or exploration for uranium, nickel and molybdenum; however, the manager may, at its own discretion, change the focus to securities of issuers that are engaged in the production of and/or exploration for other metals.
The Manager: Sentry Select Capital Corp., (“Sentry Select”) the manager of the Corporation, is a Canadian wealth management company that manages approximately $8 billion in gross assets as of December 31, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. Sentry Select is the manager and/or advisor to 30 TSX-listed reporting issuers. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.
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This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Corporation, including the potential for purchases pursuant to the mandatory market purchase program. These statements reflect the Corporation’s and Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, the Corporation and Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.
Les documents (y compris les communiqués de presse) se rapportant aux divers fonds d'investissement pour lesquels Sentry agit à titre de gestionnaire ou de conseiller ne sont fournis qu'à titre informatif. Ces documents ne peuvent être considérés comme étant exhaustifs ou exempts d'erreur sans un examen approfondi de la totalité des documents se rapportant à un fonds d'investissement en particulier disponibles sur SEDAR (www.sedar.com).