Royal Canadian Mint Announces Pricing of Follow-On Offering of Gold Exchange-Traded Receipts

Core Viewpoint - The Royal Canadian Mint has announced a follow-on offering of exchange-traded receipts (ETRs) priced at C$53.18 per ETR, aiming to raise gross proceeds of C$44.31 million through the sale of 833,200 ETRs [1][2]. Group 1: Offering Details - The ETRs provide holders with direct legal and beneficial ownership in physical gold bullion held by the Mint [2]. - The net proceeds from the offering will be utilized to purchase additional gold bullion for ETR purchasers [2]. - The offering is expected to close around September 5, 2025, pending customary conditions including Toronto Stock Exchange approval [3]. Group 2: Underwriters and Regulatory Information - The offering is being co-led by TD Securities Inc. and National Bank Financial Inc., with participation from several other financial institutions [4]. - The offering is made on a prospectus-exempt basis under exemptive relief orders from the Ontario Securities Commission [4][5]. Group 3: ETR Redemption and Ownership - ETR holders can redeem their receipts for physical gold bullion with a minimum purity of 99.99% or for cash [3]. - The ETRs are not registered under U.S. securities laws and cannot be offered or sold in the United States without proper registration or exemption [7]. Group 4: Company Overview - The Royal Canadian Mint is a Crown corporation responsible for minting and distributing Canada's circulation coins and is recognized as one of the largest mints globally [9]. - The Mint produces a variety of products, including collector coins and bullion, and offers gold and silver refining services [9].