Welcome!

News Feed Item

Bullion Management Services Inc. Announces Proposed Merger of the BMG Gold Advantage Return BullionFund With the BMG Gold BullionFund

MARKHAM, ON -- (Marketwired) -- 06/24/14 -- Bullion Management Services Inc. (the "Manager") announced today a proposal to terminate the BMG Gold Advantage Return BullionFund (the "Fund") by way of a transfer of assets (the "Merger") to the BMG Gold BullionFund (the "Continuing Fund" and together with the Fund, the "Funds") on or around August 26, 2014 (the "Effective Date"). The Merger is subject to the approval of unitholders of the Fund (the "Unitholders") at the Meeting (defined below) as well as approval of the applicable regulatory authorities. If approved and implemented, the Merger will be effected on a taxable basis.

The independent review committee of the Funds has provided its decision that, in its opinion, the Merger provides a fair and reasonable result for each of the Funds.

If necessary approvals are not obtained, the Manager intends to terminate the Fund on or around the Effective Date.

The Merger

The Fund and the Continuing Fund have the same manager, substantially similar investment objectives and strategies, fee structures, and valuation procedures. The Manager expects that the implementation of the Merger will form a larger, open-ended mutual fund that is expected to result in potentially lower management expense ratio, economies of scale and cost synergies for the unitholders of the Funds.

The Manager intends to seek approval of Unitholders for the Merger at a special meeting of Unitholders duly called and held to consider the Merger and related matters, including changes to the declaration of trust governing the Funds, on or around August 22, 2014 (the "Meeting").

Unitholders should note the following in relation to the Merger:

  • The investment objectives, valuation procedures and fee structure of the Funds are substantially similar;
  • The Merger will be effected on a taxable basis; and
  • Unitholders of the Fund may choose, prior to the Merger, to surrender their units for redemption up to the close of business on August 25, 2014, the business day immediately before the Effective Date.

Unitholders of the Fund on the proposed record date, July 22, 2014, will be entitled to receive notice of and vote at the Meeting. They will also receive the management information circular (the "Circular") which will include the details about the Merger, including the differences between the Fund and the Continuing Fund. The Circular is expected to be mailed on or around July 29, 2014. The Circular will also be available on www.sedar.com and posted on the Manager's website. Unitholders are encouraged to read the Circular in its entirety and consult with their investment advisors regarding the Merger.

Subject to receipt of applicable approvals, the Merger is expected to be implemented on or around the Effective Date.

Unitholders of the Fund will also be sent a written notice 60 days before the Effective Date notifying them that the Fund will terminate on or around the Effective Date if the Merger is approved and implemented, and also that if the Merger is not approved, the Manager still intends to terminate the Fund on or around the Effective Date.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Funds. The forward-looking statements are not historical facts but reflect the Funds' and the Manager's, current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Funds and the Manager believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Funds and the Manager undertake no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

For more information on the Merger and the Funds managed by Bullion Management Services Inc., please visit our website at www.bmgbullion.com or contact:

Michael Noonan
Vice President, Legal
Bullion Management Services Inc.
905-415-2953
Email Contact

Michelle Stewart
Manager, Operations Services
Bullion Management Services Inc.
905-474-1001
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.