Canadian Warrants - Precious Metals Bullion

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Precious Metals Bullion

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Address: Bay Wellington Tower, Brookfield Place
Suite 2930, Box 793,
181 Bay Street,
Toronto, Ontario, M5J 2T3
General Inquiries (416) 642-6000
Investor Relations (416) 642-9051
Toll Free 1-866-642-6001
Fax (416) 642-6001
Email info@bromptongroup.com
Website - https://www.bromptongroup.com/funds/pbu/overview/

Warrant Symbol - PBU.WT
Number Trading - 11.15 million
Expiration Date - Jan. 31, 2010
Cusip - 740174 11 5
Exercise Price - $12.00

Warrants called to trade news:

Precious Metals Bullion to list on TSX Aug. 13

2009-08-12 20:28 ET - New Listing
TSX bulletin 2009-1019
An application has been granted for the original listing in the industrial category of up to 23 million transferable redeemable units of Precious Metals Bullion Trust of which up to 10 million fund units will be issued and outstanding and up to 13 million fund units will be reserved for issuance upon completion of an initial public offering. An application has also been granted for the listing of up to 11.15 million transferable warrants, of which up to 10 million warrants will be issued and outstanding and up to 1.15 million warrants will be reserved for issuance.

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The fund units and warrants will be sold to the public in the form of combined units at a price of $12 per combined unit. Each combined unit consists of one fund unit and one warrant. The combined units will separate immediately upon closing of the offering. Each warrant entitles the holder thereof to acquire one fund unit at an exercise price of $12 on or before 5 p.m. (Toronto time) on Jan. 31, 2010. In accordance with the terms of the warrant indenture, since Jan. 31, 2010, is a Sunday, the fund has advised that the warrant agent will accept subscriptions until 5 p.m. (Toronto time) on Feb. 1, 2010.
Listing of the fund units and warrants will become effective at 5:01 p.m. on Thursday, Aug. 13, 2009, in anticipation of the offering closing on Friday, Aug. 14, 2009. The fund units and the warrants, other than those which have not been distributed to the public, will be posted for trading at the opening on Aug. 14, 2009.
Registration of interests in, and transfers of, the fund units will be made only through the book-entry only system of CDS Clearing and Depository Services Inc. Registration of interests in, and transfers of, the warrants will be made only through the book-based system of CDS. On the date of closing, the fund will deliver to CDS certificates representing the total number of fund units and warrants subscribed for under the offering. The fund units and warrants must be purchased, transferred and surrendered for redemption through a CDS participant. Upon purchase of any fund units and warrants, the unitholders or holders of warrants will receive only the customary confirmation.
The warrants will be governed by the terms of a warrant indenture to be dated the closing date of the offering, anticipated to be Aug. 14, 2009, between the fund and Equity Transfer & Trust Company as warrant agent. The warrant indenture provides for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.
Additional information on the units may be found in the final prospectus July 30, 2009, which is available at SEDAR. Capitalized terms not otherwise defined are as defined in the prospectus.
Fund units:

Symbol: PBU.UN
Cusip No.: 740174 10 7
Trading currency: Canadian

warrants:
Symbol: PBU.WT
Cusip No.: 740174 11 5

Trading currency: Canadian
Temporary market maker: Jones Gable & Company Ltd.
Other markets: None
Incorporation: The fund is a mutual fund established under the laws of the Province of Ontario pursuant to an amended and restated declaration of trust dated July 30, 2009.
Fiscal year-end: Dec. 31
Nature of business: The investment objective of the trust is to provide unitholders with a secure, low-cost and convenient method of investing in gold, silver and platinum bullion on a Canadian-dollar-hedged basis. The units are redeemable quarterly for a redemption price equal to 100 per cent of the net asset value per unit.
Transfer agent and registrar: Equity Transfer & Trust Company at its principal offices in Toronto
Distributions: The fund does not anticipate making regular distributions on its fund units.
Initial public offering: Pursuant to the terms of the prospectus, a maximum of 11.15 million combined units (including the overallotment option of 1.15 million combined units) at a price of $12 per unit, are being offered to the public by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Capital Corp., HSBC Securities (Canada) Inc., Dundee Securities Corp., Raymond James Ltd., Research Capital Corp., Wellington West Capital Markets Inc., Blackmont Capital Inc., Desjardins Securities Inc., Manulife Securities Inc., Haywood Securities Inc. and Richardson Partners Financial Ltd.

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Warrant Terms

Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.

Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.

Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."

Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.

Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.

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