On April 16, 2009, Central Fund of Canada Limited completed the sale of 20,000,000 Class A Shares of Central Fund at a price of US$10.50 per Class A Share to CIBC (the underwriter), raising total gross proceeds of US$210,000,000.
On August 13, 2009, Central Fund of Canada completed the sale of a further 11,040,000 Class A Shares of Central Fund at a price of US$11.90 per Class A Share to the same underwriter, raising total gross proceeds of US$131,376,000.
The Class A Shares offered were primarily sold to investors in Canada and in the United States under the Multijurisdictional Disclosure System. In each case, the underwritten price of US$11.90 per Class A Share was non-dilutive for the existing shareholders of Central Fund.
On September 8, 2009, Central Fund of Canada filed a final short-form base shelf prospectus qualifying the issue of Class A Shares of Central Fund in an aggregate offering amount of up to US$1,000,000,000 at any time during the next 25-month period.
Cassels Brock & Blackwell LLP acted for CIBC in the sales of Class A Shares with a team that included Norman Findlay, Tom Koutoulakis and Christopher Norton.
CIBC's US counsel was Adam Givertz and Jonathan Handyside from Shearman & Sterling LLP.
Fraser Milner Casgrain LLP acted for Central Fund of Canada with a team that included John Elder, Jules Lewy, Maja Czubernat and Liz Fraser. Dorsey & Whitney LLP acted as the issuer's US counsel with a team that included Christopher Barry, John Hollinrake, Jennifer Coates and Jodie Kaufman.
On August 13, 2009, Central Fund of Canada completed the sale of a further 11,040,000 Class A Shares of Central Fund at a price of US$11.90 per Class A Share to the same underwriter, raising total gross proceeds of US$131,376,000.
The Class A Shares offered were primarily sold to investors in Canada and in the United States under the Multijurisdictional Disclosure System. In each case, the underwritten price of US$11.90 per Class A Share was non-dilutive for the existing shareholders of Central Fund.
On September 8, 2009, Central Fund of Canada filed a final short-form base shelf prospectus qualifying the issue of Class A Shares of Central Fund in an aggregate offering amount of up to US$1,000,000,000 at any time during the next 25-month period.
Cassels Brock & Blackwell LLP acted for CIBC in the sales of Class A Shares with a team that included Norman Findlay, Tom Koutoulakis and Christopher Norton.
CIBC's US counsel was Adam Givertz and Jonathan Handyside from Shearman & Sterling LLP.
Fraser Milner Casgrain LLP acted for Central Fund of Canada with a team that included John Elder, Jules Lewy, Maja Czubernat and Liz Fraser. Dorsey & Whitney LLP acted as the issuer's US counsel with a team that included Christopher Barry, John Hollinrake, Jennifer Coates and Jodie Kaufman.
Lawyer(s)
Tom Koutoulakis
Elizabeth Valente
Jules Lewy
Chris Barry
Christopher B. Norton
Maja Czubernat
Adam M. Givertz
John S. Elder