Precious Metals and Mining Trust (TSX: MMP.UN) Announces Results of its Warrants Offering: Total Gross Proceeds of $72,105,579
28 Luglio 2010 - 12:06AM
Marketwired
Precious Metals and Mining Trust (the "Trust") (TSX: MMP.UN) is
pleased to announce that pursuant to the exercise of warrants (the
"Warrants") it has raised total gross proceeds of approximately
$72.1 million, being the maximum permitted under the terms of the
Trust's warrant offering which expired on July 23, 2010 (the
"Offering"). The Offering was significantly over-subscribed.
On March 16, 2010, the Trust announced that it would issue
Warrants to subscribe for Trust units to its unitholders of record
at the close of business (Toronto time) on March 30, 2010 (the
"Record Date").
Unitholders received one Warrant for each Trust unit held on the
Record Date.
One Warrant entitled the holder to purchase one Trust unit at a
price of $7.42 per unit before the expiration date of July 23, 2010
at 4:00 p.m. (Toronto time).
Warrant Offering results
The maximum number of Trust units available for issue pursuant
to the Offering was 9,717,733 units. The results of the Offering
were:
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Warrants
Exercised
pursuant to
Warrants over- New Trust units Total gross
Warrants Issued Exercised subscription Issued proceeds
----------------------------------------------------------------------------
9,717,733 9,054,670 663,063 9,717,733 $72,105,579
----------------------------------------------------------------------------
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 listed
on a North American stock exchange. The Trust units trade on the
Toronto Stock Exchange under the symbol MMP.UN.
Distribution guidance
In a press release on June 22, 2010, Sentry Investments
("Sentry") announced that for the next 12 months, the indicative
monthly distribution amount for the Trust will remain at $0.10 per
unit. However if the make-up of the Trust's portfolio changes,
distributions may differ.
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.
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect," "intend," "will" and
similar expressions to the extent they relate to Sentry and/or the
Trust. The forward-looking statements are not historical facts but
reflect Sentry's current expectations regarding future results or
events including, but not limited to, the intended use of proceeds
from the Offering. These forward-looking statements are subject to
a number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations. Although
Sentry and/or the Trust believes that the assumptions inherent in
the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. Sentry
and/or the Trust undertakes no obligation to update publicly or
otherwise revise any forward-looking statement or information
whether as a result of new information, future events or other such
factors which affect this information, except as required by law.
For a complete disclosure record of the Trust, please visit the
Trust's profile at www.sedar.com.
Sentry Investments
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615
Contacts: Sentry Investments Client Services (broker/investor
inquiries and media inquiries) 1-800-730-4623 416-364-1197 (FAX)
info@sentryselect.com www.sentryselect.com
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