Precious Metals and Mining Trust

May 30, 2006 13:24 ET

Sentry Select Capital Corp. Files Final Prospectus for Precious Metals and Mining Trust; Maximum $200 Million

TORONTO, ONTARIO--(CCNMatthews - May 30, 2006) - Sentry Select Capital Corp. is pleased to announce that a final prospectus for Precious Metals and Mining Trust (the "Trust") has been filed with the securities regulatory authorities in each of the provinces and territories of Canada.

The offering

The Trust will invest in an actively managed portfolio consisting primarily of equity securities of metals and minerals mining and exploration issuers that are listed on a North American stock exchange.

Investment objectives

The Trust's investment objectives are to provide unitholders with:

(i) long-term capital appreciation; and

(ii) monthly cash distributions, initially representing 5% yield per annum based on a $10 per unit issue price.

Distribution reinvestment plan

The Trust will offer a distribution reinvestment plan whereby residents of Canada may elect to have their cash distributions reinvested in additional units of the Trust ("Unit").

Details of the offering

The offering price is $10.00 per Unit, with a minimum subscription of 200 units ($2,000).

Closing

The closing of the offering is expected on or about June 20, 2006.

Trading symbol

The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the units under the symbol MMP.UN.

Cash option

Prospective purchasers may still acquire Units of the Trust for cash until closing.

Exchange Option

The Exchange Option was open for acceptance by holders of Eligible Securities listed in the prospectus until 5:00 pm (Toronto time) on May 25, 2006.

Determination of Exchange Ratios

The number of Units to be issued in exchange for each class or series of Eligible Securities (the "Exchange Ratio") was determined by dividing the weighted average trading price of such Eligible Security on the TSX during the three consecutive trading days ended May 25, 2006, adjusted to reflect dividends or distributions declared in respect of such Eligible Securities that will not be received by the Trust, by $10.00.

Issuers and Exchange Ratios

The following table sets out the weighted average trading price of each Eligible Security and the Exchange Ratios used to determine the number of Units to be issued for each Eligible Security. The Exchange Ratios and other information disclosed below are included in the final prospectus that has been filed with the securities regulatory authorities across Canada. The Exchange Ratios are rounded down to four decimal places.



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Name Weighted Average Exchange
Trading Price Ratio
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Aber Diamond Corporation $ 37.0081 3.7008
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AfriOre Limited $ 4.3611 0.4361
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Agnico-Eagle Mines $ 35.8002 3.58
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Alamos Gold Inc. $ 9.0773 0.9077
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Alcan Inc Common $ 53.5101 5.351
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Alcoa Inc. $ 34.5915 3.4591
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Amerigo Resources Ltd. $ 2.1867 0.2186
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AngloGold Ashanti Limited $ 51.2048 5.1204
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Anvil Mining Limited $ 8.3998 0.8399
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Atna Resources Ltd. $ 1.2618 0.1261
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Aur Resources Inc. $ 17.0237 1.7023
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Aurizon Mines Ltd. $ 3.1350 0.3135
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Barrick Gold Corporation $ 30.8129 3.0812
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Bear Creek Mining Corporation $ 4.4277 0.4427
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Bema Gold Corporation $ 5.4048 0.5404
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BHP Billiton Limited $ 46.9614 4.6961
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Breakwater Resources Ltd. $ 1.2115 0.1211
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Cambior Inc $ 3.5264 0.3526
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Cameco Corporation $ 44.3213 4.4321
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Centerra Gold Inc. $ 12.4749 1.2474
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Constellation Copper Corporation $ 2.2038 0.2203
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Dianor Resources Inc $ 1.1731 0.1173
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Dynatec Corporation $ 1.3929 0.1392
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Eldorado Gold Corporation $ 5.0669 0.5066
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Equinox Minerals Limited $ 1.7766 0.1776
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EuroZinc Mining Corporation $ 2.5573 0.2557
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Falconbridge Limited $ 54.5755 5.4575
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First Quantum Minerals Ltd. $ 49.2339 4.9233
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FNX Mining Company Inc. $ 11.2688 1.1268
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Fording Canadian Coal Trust $ 38.2957 3.8295
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Freeport-McMoRan Copper & Gold Inc. $ 61.1389 6.1138
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Frontera Copper Corporation $ 4.3842 0.4384
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Gammon Lake Resources Inc. $ 14.2645 1.4264
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Glamis Gold Ltd. $ 35.6978 3.5697
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Gold Fields Ltd. $ 22.7782 2.2778
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Goldcorp Inc. $ 33.7958 3.3795
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Golden Star Resources Ltd. $ 3.2860 0.3286
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Harmony Gold Mining Co. Ltd. $ 15.4812 1.5481
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HudBay Minerals Inc. $ 13.5112 1.3511
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IAMGold Corporation $ 10.2949 1.0294
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Inco Limited $ 68.1537 6.8153
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Inmet Mining Corporation $ 37.6154 3.7615
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Ivernia Inc. $ 1.8901 0.189
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Ivanhoe Mines Ltd. $ 7.7943 0.7794
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Jaguar Mining Inc. $ 4.2901 0.429
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Kinross Gold Corporation $ 12.1296 1.2129
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Labrador Iron Ore Royalty Income Fund $ 25.8003 2.58
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Linear Gold Corp. $ 5.2363 0.5236
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LionOre Mining International Ltd. $ 5.3076 0.5307
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Meridian Gold Inc. $ 34.3487 3.4348
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Metallica Resources Inc. $ 3.1170 0.3117
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New Gold Inc. $ 10.7610 1.0761
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Newmont Mining Corporation $ 57.2972 5.7297
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Northgate Minerals Corporation $ 3.9698 0.3969
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Northern Orion Resources Inc. $ 5.3057 0.5305
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NovaGold Resources Inc. $ 14.1795 1.4179
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Novelis Inc. $ 23.6659 2.3665
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Phelps Dodge Acquisition Corp. $ 93.4188 9.3418
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Randgold Resources Limited $ 21.6427 2.1642
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Rio Narcea Gold Mines, Ltd. $ 2.0496 0.2049
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Royal Gold, Inc. $ 31.9492 3.1949
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Sacre-Coeur Minerals, Ltd. $ 1.9474 0.1947
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Semafo Inc $ 2.4502 0.245
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Sherritt International Corporation $ 11.4192 1.1419
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Shore Gold Inc. $ 5.5709 0.557
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Silver Wheaton Corp. $ 9.6934 0.9693
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SOHO Resources Corp. $ 0.8043 0.0804
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Southwestern Resources Corp. $ 10.0845 1.0084
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SXR Uranium One Inc. $ 9.3289 0.9328
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Teck Cominco Limited $ 65.5793 6.5579
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Tournigan Gold Corporation $ 2.0971 0.2097
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UEX Corporation $ 3.7115 0.3711
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UrAsia Energy Ltd. $ 2.7609 0.276
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Ur-Energy Inc. $ 2.0417 0.2041
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Viceroy Exploration Ltd. $ 8.4709 0.847
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Yamana Gold Inc. $ 10.3410 1.0341
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Yukon Zinc Corporation $ 0.3308 0.033
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Sentry Select Capital Corp.

Sentry Select Capital Corp. provides investment, administrative and marketing services to 24 exchange-listed closed-end funds, 17 of which have exposure to the income trust sector, 16 mutual funds, 13 principal-protected notes and three flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of March 31, 2006, the firm had approximately $8.5 billion in gross assets under management.

Agents

A syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets, includes BMO Nesbitt Burns Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc., Dundee Securities Corporation, Wellington West Capital Inc., IPC Securities Corporation and Research Capital Corporation.



The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615



Contact Information

  • Precious Metals and Mining Trust
    Investor Services
    (broker/investor inquiries)
    1 (888) 246-6656
    or
    Precious Metals and Mining Trust
    Brian McOstrich
    (media inquiries)
    1 (888) 246-6656
    (416) 364-1330 (FAX)
    info@sentryselect.com
    www.sentryselect.com