Central Fund of Canada Limited Closes U.S.$230,181,000 Class A Share Issue

Central Fund of Canada Limited (TSX:CEF.A)(TSX:CEF.U)(NYSE Amex:CEF) ("Central
Fund") of Calgary, Alberta is pleased to announce that it has completed the sale
of 16,975,000 Class A Shares of Central Fund at a price of U.S.$13.56 per Class
A Share to a syndicate of underwriters (the "Underwriters") led by CIBC, raising
total gross proceeds of U.S.$230,181,000. The Class A Shares offered were
primarily sold to investors in Canada and in the United States under the
Multijurisdictional Disclosure System.


The underwritten price of U.S.$13.56 per Class A Share was non-dilutive and
accretive for the existing Shareholders of Central Fund. Substantially all of
the net proceeds of the offering have been invested in gold and silver bullion
in international banker bar denominations, in keeping with the asset allocation
requirements in the constating documents of Central Fund and the policies
established by the Board of Directors of Central Fund, with the balance of the
net proceeds reserved for working capital purposes. The additional capital
raised by this underwriting is expected to assist in reducing the annual expense
ratio in favour of the Shareholders of Central Fund.


The new total of issued and outstanding Class A Shares of Central Fund is
212,982,713. The refined bullion and small bullion certificate holdings of
Central Fund are now represented by approximately 1,346,502 fine ounces of gold
and 67,322,479 ounces of silver. Cash and short-term interest bearing
certificates, less accrued liabilities, now total a net amount of approximately
U.S.$73,994,923.


Central Fund has filed a prospectus supplement to the base shelf prospectus and
registration statement dated September 8, 2009 with the Canadian securities
regulatory authorities and the United States Securities and Exchange Commission
("SEC") for the offering to which this communication relates. Before you invest,
you should read the base shelf prospectus and prospectus supplement and any
other documents Central Fund has filed with the securities commissions in each
of the provinces and territories of Canada, except Quebec, and the SEC, for more
complete information about Central Fund and this offering. You may obtain a copy
of the base shelf prospectus and prospectus supplement filed in the United
States from CIBC World Markets Corp., 425 Lexington Avenue, 5th Floor, New York,
New York 10017, by fax at 212-667-6303 or by e-mail at
useprospectus@us.cibc.com. You may obtain a copy of the base shelf prospectus
and prospectus supplement filed in Canada from CIBC, fax 416-594-7242 or request
a copy by telephone at 416-594-7270.


Statements contained in this release that are not historical facts are
forward-looking statements that involve risks and uncertainties. Central Fund's
actual results could differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, those risks detailed in Central
Fund's filings with the Canadian securities regulatory authorities and the SEC.


Central Fund of Canada Limited (Est. 1961) is an exchange-tradeable, refined
gold and silver bullion holding company. Class A Shares are qualified for
inclusion in many North American regulated accounts. Central Fund's bullion
holdings are stored unencumbered in allocated and segregated safekeeping in
Canada, in the treasury vaults of the Canadian Imperial Bank of Commerce. The
gold and silver bullion are physically inspected by Ernst & Young LLP in the
presence of Central Fund's Officers and Directors as well as bank officials.
Class A Shares are quoted on the NYSE Amex LLC, symbol CEF and on the TSX,
symbols CEF.A (Cdn.$) and CEF.U (U.S.$).

Sprott Physical Gold and... (TSX:CEF.U)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024