Core Viewpoint - The Royal Canadian Mint has announced a follow-on offering of exchange-traded receipts (ETRs) under its Canadian Gold Reserves program, aimed at providing investors with direct ownership in physical gold bullion held by the Mint [1][2]. Offering Details - The ETRs provide holders with legal and beneficial ownership in physical gold bullion stored at the Mint's facilities in Ottawa, Ontario [2]. - The new ETRs will be identical and fully fungible with the existing ETRs, with proceeds from the offering used to purchase additional gold bullion [2]. - The size and price of the offering will be determined at the time of pricing, with the closing expected around February 12, 2026, subject to market conditions and Toronto Stock Exchange approval [3]. Underwriting and Regulatory Information - The offering is being conducted by a syndicate of underwriters co-led by TD Securities Inc. and National Bank Financial Inc., on a prospectus-exempt basis as per the Ontario Securities Commission's exemptive relief orders [4]. - Important information regarding the ETRs and the offering is available in the information statement dated February 9, 2026, accessible on SEDAR+ and the Mint's website [5][8]. Company Background - The Royal Canadian Mint is a Crown corporation responsible for minting and distributing Canada's circulation coins, recognized as one of the largest and most versatile mints globally, producing various bullion products and collector coins [9].

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].