SBT.U Purpose Silver Bullion Fund

NOT FOR DISTRIBUTION TO U. S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES




TSX SYMBOLS:  Trust Units SBT.UN (Cdn.$) and SBT.U (U.S.$)
              Warrants SBT.WT (Cdn.$) and SBT.WT.U (U.S.$)



Silver Bullion Trust (TSX:SBT.UN)(TSX:SBT.U)(TSX:SBT.WT)(TSX:SBT.WT.U) (the
"Trust") is pleased to announce that it has completed the issuance of an
additional 112,912 trust units of the Trust (the "Trust Units") at U.S.$9.25 per
Trust Unit and 257,912 warrants of the Trust (the "Warrants") at U.S.$0.75 per
Warrant, for additional gross proceeds to Silver Bullion Trust of
U.S.$1,237,870, pursuant to the exercise of the over-allotment option granted to
CIBC in respect of its recent initial public offering (the "Offering"). Silver
Bullion trust has now raised total gross proceeds of $27,237,870 pursuant to the
Offering. Each Warrant entitles the holder thereof to acquire one Trust Unit at
an exercise price of U.S.$10.00 at any time on or before April 29, 2010, in
accordance with the terms and conditions of the Warrant Indenture.


The additional net proceeds will be used to acquire and hold silver bullion and,
incidental thereto, minor amounts of silver certificates, if any, in accordance
with the objective and the policies and restrictions of Silver Bullion Trust
contained in its Amended and Restated Declaration of Trust. All of the physical
silver bullion owned by the Trust will be stored on an allocated and segregated
basis in Canada, in the treasury vaults of a Schedule 1 Canadian chartered bank
(the "Bank").


The total of issued and outstanding Trust Units is 2,712,912. The total of
issued and outstanding Warrants is 2,857,912. The asset holdings of Silver
Bullion Trust will be represented by silver bullion.


Silver Bullion Trust is the newest bullion holding entity created by the
founders and stewards of Central Fund of Canada Limited (TSX: CEF.A (Cdn.$) and
CEF.U (U.S.$) and NYSE Amex LLC: CEF), a gold and silver bullion holding company
established in 1961 and converted to "The Sound Monetary Fund" in 1983 and
Central GoldTrust (TSX: GTU.UN (Cdn.$) and GTU.U (U.S.$) and NYSE Amex LLC:
GTU), a gold bullion holding trust established in 2003.


Silver Bullion Trust, established by a Declaration of Trust under the laws of
the Province of Ontario on June 8, 2009, as amended and restated on July 9,
2009, is a passive, self-governing, single purpose, closed-end trust, which has
been created to hold substantially all of its assets in unencumbered, long-term
holdings of silver bullion, with the primary investment objective of passively
maintaining long term holdings of silver bullion. The purpose of the Trust is to
acquire and hold unencumbered silver bullion on a long-term basis in 1,000 ounce
international bar sizes, and not to speculate with regard to short-term changes
in silver prices. The Trust Units and Warrants provide a secure, convenient,
low-cost, exchange tradeable investment alternative for investors interested in
silver bullion physically stored in allocated and segregated safekeeping in
Canadian chartered bank treasury vaults, without the associated inconvenience
and relatively high transaction, handling, storage, insurance and other costs
typical of a direct silver bullion investment. The Trust's silver bullion
holdings will be physically inspected during audits by Ernst & Young LLP in the
presence of one or more of the Trust's Trustees and/or Officers, as well as Bank
officials.


Trust Units and Warrants of Silver Bullion Trust are qualified investments for
RRSPs, DPSPs, RRIFs, RESPs and TFSAs. For details, refer to the "Eligibility for
Investment" heading in the final prospectus of Silver Bullion Trust dated July
9, 2009. The Trust Units and Warrants are listed in Canadian dollars on the TSX
under the symbols SBT.UN and SBT.WT, and in U.S. dollars under the symbols SBT.U
and SBT.WT.U, respectively.


Silver Administrators Limited, Directors and Officers of which have significant
experience in the stewardship of silver bullion investments, is the
Administrator of the Trust.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States or to or for the account
or benefit of a U.S. person. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such
registration is available.


Information regarding Silver Bullion Trust is available on its website at
www.silverbulliontrust.com.

Purpose Silver Bullion (TSX:SBT.U)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Purpose Silver Bullion (TSX:SBT.U)
Historical Stock Chart
Von Jun 2023 bis Jun 2024