This investment vehicle provides investors with direct exposure to physical gold via the Canadian Gold Reserves Program. The Royal Canadian Mint serves as the official custodian, storing the gold bullion for the benefit of Exchange Traded Receipt (ETR) holders. These ETRs are listed on the Toronto Stock Exchange (TSX) and can be bought and sold like any other publicly traded security. Each ETR represents a shared, undivided beneficial interest in the gold bullion held by the custodian, meaning ETR holders maintain continuous beneficial ownership of the underlying gold. It is important to note that the gold bullion backing the ETRs is held on an unallocated basis, therefore, an individual ETR holder's specific share of bullion is not physically segregated from other unallocated gold reserves at the Mint.

Canadian Gold Reserves ETR

The fund provides exposure to physical gold through the Canadian Gold Reserves Program by the Royal Canadian Mint (the Mint) the custodian of the gold bullion on behalf of ETR holders. ETRs are listed on the TSX and may be bought and sold like any other exchange-listed securities. Each ETR represents an undivided beneficial interest in gold bullion held by the custodian. This means that ETR holders beneficially owned gold bullion, and that ownership remains at all times. The gold bullion underlying the ETRs is stored on an unallocated basis, such that the bullion owned by an ETR holder is not held separately from the other unallocated bullion held at the Mint.

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