An anonymous director reports
SPROTT PHYSICAL GOLD TRUST ANNOUNCES COMPLETION OF ITS FOLLOW-ON OFFERING OF TRUST UNITS
Sprott Physical Gold Trust has completed its
follow-on offering of 26.45 million transferable, redeemable units of the
trust at $14.84 (U.S.) per unit for gross proceeds of
$392,518,000 (U.S.). This includes the exercise in full by
the underwriters of their overallotment option.
The trust will use the net proceeds of the offering to acquire physical
gold bullion in accordance with the trust's objective, and subject to
the trust's investment and operating restrictions described in the
prospectus related to the offering. The net proceeds of the offering
per unit are greater than 100 per cent of the most recently calculated net
asset value per unit of the trust prior to, or upon determination of,
pricing of the offering, as required under the trust agreement
governing the trust.
The units are listed on the New York Stock Exchange Arca and the Toronto Stock Exchange under
the symbols PHYS and PHY.U, respectively. The offering was made
simultaneously in the United States and Canada by underwriters led by
Morgan Stanley and RBC Capital Markets in the U.S., and RBC
Capital Markets and Morgan Stanley in Canada.
© 2016 Canjex Publishing Ltd. All rights reserved.