Precious Metals and Mining Trust completes C$86 million offering

Date Closed: 12/17/2010

Value: C$86 million

On December 2, 2010, Precious Metals and Mining Trust (the Trust) completed an offering of 7,095,553 units of the Trust (Units) through a short form prospectus at a price of $10.57 per Unit for aggregate gross proceeds of approximately $75 million. The Agents exercised their over-allotment option on December 17, 2010 to purchase an additional 1,064,333 Units. The exercise of the over-allotment option brought the total gross proceeds raised pursuant to the offering to approximately $86.2 million.

The offering was made through a syndicate of agents co-led by RBC Capital Markets and CIBC and included BMO Capital Markets, Canaccord Genuity Corp., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Corporation, GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc. (collectively, the Agents).

The Trust and the manager of the Trust, Sentry Select Capital Inc. were represented by BLG with a team that included Michael DeCosimo and Mark Lau (securities) and Stephen Fyfe and Pierre Letourneau (tax).