Business News • MarketWire • Purpose Investments Inc. Announces Definitive Agreement to Convert Central GoldTrust and Silver Bullion Trust Into ETFs in Partnership With Central Gold Managers Inc. and Silver Administrators Ltd. |
Purpose Investments Inc. Announces Definitive Agreement to Convert Central GoldTrust and Silver Bullion Trust Into ETFs in Partnership With Central Gold Managers Inc. and Silver Administrators Ltd. |
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Purpose Investments Inc. Announces Definitive Agreement to Convert Central GoldTrust and Silver Bullion Trust Into ETFs in Partnership With Central Gold Managers Inc. and Silver Administrators Ltd.
TORONTO, ON--(Marketwired - November 26, 2015) - Purpose Investments Inc. ("Purpose"), manager of the Purpose family of ETFs and mutual funds is pleased to announce it has entered into a definitive agreement with Central GoldTrust ("CGT"), Central Gold Managers Inc. ("CGT Administrator"), Silver Bullion Trust ("SBT", together with CGT, the "Funds") and Silver Administrators Inc. ("SBT Administrator", together with CGT Administrator, the "Administrators") regarding the conversion of the Funds into exchange-traded funds (each an "ETF") ("ETF Conversion"). The proposed ETF Conversion, which is subject to, among any other approvals that may be required, approval of the unitholders of each of CGT and SBT, has the unanimous support of the independent trustees of CGT and SBT, respectively, and represents an exciting opportunity for their respective unitholders.
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