Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd.
Dynamic Funds Ltd.

Dynamic Funds Ltd.
CMP Gold Trust
TSX : CMP.UN
TSX : CMP.WT.A

January 25, 2008 11:02 ET

CMP Gold Trust Closes Initial Public Offering at $45 Million

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2008) -

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

Goodman & Company, Investment Counsel Ltd. ("Goodman & Company" or the "Manager"), manager of the Dynamic family of mutual funds, is pleased to announce that CMP Gold Trust (the "Trust") (TSX:CMP.UN)(TSX:CMP.WT.A) has completed its initial public offering today at an offering size of $45 million.

Offering: At closing, the Trust issued 4,500,000 units ("Units") at a price of $10.00 per Unit, for gross proceeds of $45 million. Each Unit consists of one trust unit ("Trust Unit") and one series A trust unit purchase warrant (a "Series A Warrant"). The Trust Units and the Series A Warrants will immediately be separable upon issue.

Subject to certain restrictions as described in the final prospectus of the Trust dated December 20, 2007, each Series A Warrant entitles the holder, upon exercise of such Series A Warrant at an exercise price of $12.00, to acquire one Trust Unit and one-half of one series B trust unit purchase warrant (each whole series B trust unit purchase warrant, a "Series B Warrant"). Each Series A Warrant is exercisable in accordance with its terms from today (the "Closing Date") to and including the date that is the third anniversary of the Closing Date (the "Series A Warrant Expiry Date"). Series A Warrants that are not exercised by 5:00 p.m. (Toronto time) on the Series A Warrant Expiry Date will be void and of no value.

Each whole Series B Warrant entitles the holder, upon exercise of such Series B Warrant at an exercise price of $15.00, to acquire one Trust Unit. Each Series B Warrant is exercisable in accordance with its terms on or prior to the date that is the fifth anniversary of the Closing Date (the "Series B Warrant Expiry Date"). Series B Warrants that are not exercised by 5:00 p.m. (Toronto time) on the Series B Warrant Expiry Date will be void and of no value. Series A Warrants and Series B Warrants are collectively referred to as "Warrants".

TSX Listing: The Trust's Trust Units and Series A Warrants commenced trading today on the Toronto Stock Exchange (the "TSX") under the symbols CMP.UN and CMP.WT.A, respectively. The Series B Warrants will not be posted for trading on the TSX unless and until the minimum distribution requirements of the TSX are met.

The Manager: Goodman & Company is a leading Canadian asset management company tracing its roots back 50 years, with more than $24 billion in assets under management. Goodman & Company offers a wide range of wealth management solutions through registered financial advisors. These include the mutual funds, hedge funds and closed-end investment trusts of Dynamic Funds™, the portfolio solutions of the Marquis Investment Program, the flow-through limited partnerships of CMP™ and Canada Dominion Resources and the high-net investment counsel of Goodman Private Wealth Management. Goodman & Company is a subsidiary of DundeeWealth Inc. (TSX:DW). The Trust will be managed by a portfolio management team of the Manager led by Ned Goodman. The Manager has retained Dundee Resources Limited to provide commodity and technical expertise and due diligence services on potential investments of the Trust. Dundee Resources Limited, an affiliate of the Manager and a wholly-owned subsidiary of Dundee Corporation, carries out Dundee's resource-focused merchant banking activities. Ned Goodman is the Executive Chairman and Murray John is the President and Chief Executive Officer of Dundee Resources Limited. Ned Goodman is also the Chairman of the general partners in the CMP™ Group, and Murray John is also the President, Chief Executive Officer and a director of the general partners in the CMP Group. The Manager has also retained Dr. Martin Murenbeeld, chief economist at DundeeWealth Economics™, a division of DundeeWealth Inc., to provide commodity expertise to the Trust, particularly with respect to gold.

The Agents: The syndicate of agents is led by Dundee Securities Corporation, CIBC World Markets Inc. and RBC Dominion Securities Inc. and includes, BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities Inc. and Wellington West Capital Inc.

This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Goodman & Company's current expectations, but are subject to a number of risks and uncertainties. Due to many risks and uncertainties, Goodman & Company cannot assure that the forward-looking statements contained in this news release will be realized.

A final prospectus dated December 20, 2007 relating to these securities has been filed with the securities regulatory authority in each of the provinces and territories of Canada. This news release shall not constitute an offer to sell or the solicitation of an offer to buy. Important information concerning the offering is contained in the prospectus.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or the Investment Company Act of 1940, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Contact Information

  • Goodman & Company, Investment Counsel Ltd.
    Customer Relations Centre
    1-800-268-8186
    Website: www.dynamic.ca
    or
    Myra Reisler
    Media Relations
    (416) 342-1829