Purpose Investments Announces the Completion of Conversion of Silver Bullion Trust into an Exchange-Traded Fund and Offering of ETF Currency Hedged Units

Purpose Investments Inc. (“Purpose Investments”) is pleased to announce that it has completed the conversion of the Silver Bullion Trust (TSX:SBT) (“SBT” or the “Fund”) into an open ended exchange traded fund (“ETF”). The non-currency hedged units of the Fund will commence trading today under the ticker symbol “SBT.B” (CAD dollar denominated) and “SBT.U” (U.S. dollar denominated). The Fund has also qualified for issuance a new class of ETF currency hedged units of the Fund which will commence trading today under the symbol “SBT”.

By converting to an ETF, the Fund is expected to provide unitholders with several important benefits including more efficient trading as the market price of the Funds units should be closer to its intrinsic net asset value, as well as greater market liquidity. The conversion to an ETF will not change the investment objective or investment restrictions of the Fund.

The Silver Bullion Trust invests in and holds substantially all of its assets in long-term holdings of physical silver bullion in order to provide investors with a secure, convenient, low-cost alternative for investors interested in holding an investment in silver bullion. The Fund holds unencumbered silver bullion on a long-term basis in 1,000 ounce international bar sizes, held on a fully allocated and segregated basis, in treasury vault facilities of a Canadian chartered bank.

“Precious metals, and silver specifically, play an integral part of an investor’s portfolio. Silver has a negative or low correlation to traditional asset classes, making it an effective portfolio diversifier” said Som Seif, President and Chief Executive Officer of Purpose Investments. “Inclusion of the Silver Bullion Trust in a portfolio can increase overall risk-adjusted returns, and offer downside protection from inflation. Purpose is proud to be able to offer a secure, low cost and liquid solution for investors looking to add silver to their portfolios.”

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