The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

CLAYMORE SILVER BULLION TRUST ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Friday, May 27, 2011

CLAYMORE SILVER BULLION TRUST ANNOUNCES CLOSING OF PRIVATE PLACEMENT09:23 EDT Friday, May 27, 2011/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./TORONTO, May 27, 2011 /CNW/ - Claymore Investments, Inc. ("Claymore") is pleased to announce that the Claymore Silver Bullion Trust (the "Fund") (TSX:SVR.UN and SVR.C) has closed the non-brokered private placement of 192,686 hedged units (the "Hedged Units") and 286,848 non-hedged units (the "Non-Hedged Units") of the Fund at a price of $20.76 per Hedged Unit and $13.94 per Non-Hedged Unit for aggregate gross proceeds of approximately $8,000,000 CAD. The offering price of the units was established using the respective net asset value of each class of units calculated as at May 20, 2011 and is not dilutive to existing unitholders of the Fund. The Hedged Units and Non-Hedged Units sold pursuant to the offering will be subject to resale restrictions under applicable securities laws.The Fund is a closed-end investment fund established under the laws of the Province of Ontario. The Fund's investment objective is to replicate the performance of the price of silver bullion, less the Fund's expenses and fees. The Fund will automatically convert into an exchange-traded fund if the Hedged Units trade at a pre-defined discount to net asset value for 10 consecutive days.About Claymore Investments, Inc. Claymore Investments, Inc. is a Canadian leader in bringing intelligent, low cost exchange-traded funds in Canada through its family of 30 ETFs and 2 closed-end funds across broad asset classes including core equity, global sectors, fixed income and commodities with approximately $6.4 billion in assets under management as of April 30, 2011. Claymore is a wholly-owned subsidiary of Guggenheim Funds Services Group, Inc., a financial services and asset management company based in the Chicago, Illinois area and an indirect subsidiary of Guggenheim Partners, LLC, ("Guggenheim") a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.Commissions, management fees and expenses may be associated with any investment fund. Investors should consider the investment objectives and policies, risk considerations, charges and ongoing expenses of a fund before investing. Please read the prospectus carefully before you invest. For a copy of the prospectus or more information, please contact your IIROC registered advisor or Claymore Investments, Inc.For further information about any of the Claymore funds or Claymore Investments, Inc., please visit our website at www.claymoreinvestments.ca.For further information: For media inquires, please contact: Dan Rubin Vice President, Marketing, Claymore Investments, Inc. (416) 813-2018 drubin@claymoreinvestments.ca  -or- Som Seif President & CEO, Claymore Investments, Inc. (866) 417-4640 info@claymoreinvestments.ca www.claymoreinvestments.ca