Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (95499)	4/11/2002 1:10:47 PM
From: Tommaso	Respond to of 132070

MAJOR PRIVATE PLACEMENT FOR CENTRAL FUND OF CANADA Central Fund of Canada Limited announces completion of a private placement today of 4,153,846 Class A shares for aggregate gross proceeds of U.S. $15,660,000. The shares are being issued at a non-dilutive price of U.S. $ 3.77 per share, being Cdn. $6.00 at the exchange rate of 1.5918. The subscription was received unsolicited from Canadian Investment Manager, Sprott Asset Management Inc., together with its managed accounts, Sprott Canadian Equity Fund and accounts and/or pooled investment vehicles managed by Sprott Asset Management Inc. The U.S. $15,660,000 has been invested in an additional 26,800 fine ounces of gold and 1,340,000 ounces of silver with approximately US $992,400 retained, after expenses of the issue, as working capital. The new total of issued and outstanding Class A shares of Central Fund of Canada Limited is 23,566,706. The holdings of Central Fund are now represented by 159,027 fine ounces of gold, 7,955,768 ounces of silver and U.S. $1,852,989 primarily in cash and other net assets.