Purpose Investments Inc. Announces Definitive Agreement to Convert Central GoldTrust and Silver Bullion Trust Into ETFs in Partnership With Central Gold Managers Inc. and Silver Administrators Ltd.

TORONTO, ON--(Marketwired - November 26, 2015) - Purpose Investments Inc. ("Purpose"), manager of the Purpose family of ETFs and mutual funds is pleased to announce it has entered into a definitive agreement with Central GoldTrust ("CGT"), Central Gold Managers Inc. ("CGT Administrator"), Silver Bullion Trust ("SBT", together with CGT, the "Funds") and Silver Administrators Inc. ("SBT Administrator", together with CGT Administrator, the "Administrators") regarding the conversion of the Funds into exchange-traded funds (each an "ETF") ("ETF Conversion"). The proposed ETF Conversion, which is subject to, among any other approvals that may be required, approval of the unitholders of each of CGT and SBT, has the unanimous support of the independent trustees of CGT and SBT, respectively, and represents an exciting opportunity for their respective unitholders.

"At Purpose, we remain committed to providing industry leading premier investment solutions that offer investors the best possible experience and minimize their fees." said Som Seif, CEO at Purpose Investments."Central GoldTrust and Silver Bullion Trust along with the Administrators share the same values, and we feel confident that our proposed structure will enhance the low fee investment options for our clients."

Benefits of the ETF Structure

ETFs are at the forefront of investment product innovation and have been the fastest growing segment of the investment fund industry in Canada and globally for over 10 years. ETFs offer investors multiple benefits, including:

• Superior market liquidity and efficient trading
• Virtually unlimited daily trading capacity
• Low fee structure
• Enhanced asset scale opportunity

Management Fees Reduction

Upon the Funds conversions into ETFs, Purpose has agreed to reduce each Fund's management fees by 25% until the reduction reaches an amount of up to $1,900,000 for CGT and up to $100,000 for SBT, which further reduces the Funds' already low fees, in an effort to compensate unitholders for the costs that CGT and SBT have incurred in defending unitholders' interests from Sprott Asset Management LP's ("Sprott") hostile take-over bid.

Each of CGT and SBT has called a special unitholder meeting to vote on the ETF Conversion proposal to be held on January 26^th, 2016. A trustees' information circular in respect of such meeting will be sent to CGT and SBT unitholders shortly and posted on the CGT and SBT websites.

In order to preserve the option to consider the ETF Conversion proposal which is unanimously supported by the independent board of trustees of each of the Funds, unitholders of each of the Funds will have to withdraw their tendered units before December 7, 2015, otherwise they may be denied the opportunity to consider the ETF Conversion.

Purpose's senior management team has extensive experience managing closed-end funds and their conversion into ETFs. At Claymore Investments, Som Seif led the first conversion of a closed-end fund to an ETF in Canada and has a successful track record in founding and managing gold and silver bullion funds and converting bullion closed-end funds into ETFs, specifically the conversion of the Claymore Gold Bullion Fund into an ETF in February 2010.

Purpose is led by a seasoned management team with a proven track record of success in building and growing successful investment management businesses and soundly stewarding investors' capital. As the founder and CEO of Claymore Investments, Som Seif led Claymore Investments to become one of the most successful growth stories in the investment funds industry in Canada and the ETF industry globally. Subsequently, after Mr. Seif built Claymore from start-up to $8 billion in assets, it was successfully sold to BlackRock in March 2012.

About Purpose Investments

Purpose Investments is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all investors to be better investors. Purpose has over $1.4 billion in assets under management and currently offers 14 exchange traded funds and mutual funds and 4 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.

Purpose is the manager of NexC Partners Corp. (NXC), an investment corporation which invests in a portfolio of North American dividend-paying equity securities, plus owns an equity stake in Purpose.

Forward-looking Information

Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws. Such information includes, but is not limited to, statements regarding the ETF Conversion. Words such as "will", "estimate" or "expect" and similar expressions (including grammatical variations thereof) are intended to identify such information. The forward-looking statements are not historical facts but reflect Purpose's current expectations regarding future results or events. The 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. These and other factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. The forward-looking statements are made as of the date hereof and Purpose does not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.