Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Gold Bug

Reply
 
LinkBack Thread Tools
Old 05-25-2012, 10:19 AM   #1
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2443 times
Post Apmex creating new gold trust

From a press release received via email:
Quote :
OKLAHOMA CITY, OK. – May 22, 2012 – APMEX Precious Metals Management Services, Inc. today announced that APMEX Physical – 1 oz. Gold Redeemable Trust (the “Trust”) has filed a registration statement in the United States and a preliminary prospectus in Canada. The Trust will be managed by APMEX Precious Metals Management Services, Inc., a wholly owned subsidiary of APMEX, Inc.. The Trust expects to invest in and hold substantially all of its assets in 1 oz. American Gold Eagle bullion coins and 1 oz. Canadian Gold Maple Leaf bullion coins.

The APMEX Physical – 1 oz. Gold Redeemable Trust intends to provide investors with access to the gold market while providing the liquidity of an exchange-traded security. A feature of the Trust is the option for the owner to redeem a minimum interest in the Trust of US$10,000 for a proportionate share of the gold coin assets of the Trust.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. A preliminary prospectus has been filed with the securities regulatory authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective in the United States for sales in the United States, or a receipt has been issued for the final prospectus in Canada for sales in Canada.

Stifel, Nicolaus & Company, Incorporated is acting as Global Coordinator and U.S. Bookrunning Manager; Oppenheimer & Co. Inc. is acting as Co-Bookrunning Manager; and Lazard Capital Markets LLC is acting as Co-Lead Manager for this offering in the United States. A syndicate of Canadian dealers led by BMO Capital Markets and Stifel Nicolaus Canada Inc., and including Scotiabank, Desjardins Securities Inc., Dundee Securities Ltd., Macquarie Private Wealth Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated, will act as the underwriters in Canada.

Interested parties may obtain copies of the preliminary prospectus relating to the United States offering from:

Stifel, Nicolaus & Company, Incorporated
Attention: Prospectus Department
One South Street, 15th Floor
Baltimore, MD 21202
By telephone: +1-443-224-1988, or by email at syndicateoperations@stifel.com

Interested parties may obtain copies of the preliminary prospectus relating to the Canadian offering from:

BMO Capital Markets
C/O: The Data Group of Companies
Attention: Des Raposo
80 Ambassador Drive
Mississauga, Ontario L5T 2Y9
By telephone: +1-905-696-8884, ext. 4222, or by email at: draposo@datagroup.ca
...
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Old 05-25-2012, 11:06 AM   #2
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
Looks like they're trustworthy. Not another GLD/SLV type scam...
swissaustrian is offline   Reply With Quote
Old 05-25-2012, 11:34 AM   #3
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2443 times
A $10K limit for redemption in physical is pretty reasonable for "retail" investors. It will be interesting to see how it works and what impact it might have on the market for AGEs and Maple Leafs.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Review: Apmex PMBug Marketplace 43 04-27-2016 12:01 PM
Deal: APMEX: Gold Maples +$44.99 dontdeBasemebro Marketplace 0 04-03-2012 12:56 AM
Sprott Physical Gold Trust to buy more gold PMBug Gold Bug 2 02-07-2012 08:18 AM


All times are GMT -5. The time now is 10:19 AM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.