Central Fund of Canada Announces Filing of Preliminary Prospectus.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 8, 2003 Central Fund of Canada Limited ("CFOC CFOC Chief Financial Officers Council CFOC Campaign for Our Children CFOC Center Focus CFOC Contractor Fin Opener Crank ") of Calgary, Alberta, Canada today announced that it has filed a preliminary short form prospectus with the securities commissions in each of the provinces and territories of Canada, except Quebec, and with the United States Securities and Exchange Commission for a proposed underwritten offering Underwritten offering A purchase and sale. by CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Inc. of Class A Shares to the public in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . CFOC will only proceed with the offering if it is non-dilutive to the net asset value of the Class A shares owned by the existing shareholders of CFOC. Substantially all of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering will be used to purchase gold and silver bullion in a ratio of approximately 50 troy ounces of silver for every one fine ounce of gold, in keeping with the investment policies established by the board of directors of CFOC. The additional capital is expected to reduce the operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. ratio in favour of the Shareholders of CFOC. A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the U.S. preliminary prospectus relating to the offering may be obtained from CIBC World Markets Corp., fax: 212 667-6136, e-mail: USEProspectus@us.cibc CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company .com. Copies of the Canadian preliminary prospectus may be obtained from CIBC World Markets Inc., fax 416-594-7242. Central Fund of Canada Limited is a refined gold and silver bullion holding company. |
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