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Canadian Gold Reserves ETR ( (TSE:MNT) ) has issued an update.
The Royal Canadian Mint has launched a follow-on offering of gold exchange-traded receipts under its Canadian Gold Reserves program, with the receipts listed on the Toronto Stock Exchange in both Canadian and U.S. dollars. Each receipt represents direct legal and beneficial ownership of physical gold bullion held at the Mint, is fungible with existing receipts, and can be redeemed for high-purity gold or cash, while proceeds from the new issuance will be used to purchase additional bullion for investors.
The offering, led by a syndicate co-headed by TD Securities and National Bank Financial, is being conducted on a prospectus-exempt basis under exemptive relief orders from the Ontario Securities Commission, with final size and pricing to be set at closing subject to market conditions and TSX approval. The structure underscores the Mint’s role as a provider of physically backed gold investment products, though investors are reminded that they have no recourse to the Mint or the Government of Canada for any losses on their ETR holdings.
More about Canadian Gold Reserves ETR
The Royal Canadian Mint is a Crown corporation responsible for minting and distributing Canada’s circulation coins and is among the world’s largest and most versatile mints. It produces collector coins, market-leading gold and silver bullion products, and national honours, and operates London Good Delivery and COMEX-approved refining services alongside gold and silver exchange-traded receipt programs backed by physical bullion held at its Ottawa facilities.
Average Trading Volume: 39,231
See more data about MNT stock on TipRanks’ Stock Analysis page.