Smith Affiliated Capital Corp.: Historical Holdings in Central GoldTrust

NEW YORK, NEW YORK--(Marketwired - Oct. 9, 2015) - This release is being made by Smith Affiliated Capital Corp. ("SAC") to report historical information concerning holdings in Central GoldTrust (the "Issuer").

On June 16, 2010, SAC acquired control or direction over 1,145,640 trust units (the "Trust Units") of the Issuer on behalf of its managed accounts ("First Reportable Event"). As a result of this acquisition of Trust Units, as at June 16, 2010, SAC may be considered, under Canadian securities laws, to have had control or direction over 1,830,551 Trust Units of the Issuer (comprised of 4,780 Trust Units held directly by SAC and 1,825,771 Trust Units on behalf of managed accounts), which constituted approximately 10.82% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Subsequently, on May 18, 2011, SAC disposed of 12,485 Trust Units of the Issuer on behalf of its managed accounts. Immediately following this disposition of Trust Units, as at May 18, 2011, SAC may be considered, under Canadian securities laws, to have had control or direction over 1,685,658 Trust Units of the Issuer on behalf of managed accounts. In addition, Maria E. Smith, a director and the Chief Executive Officer of SAC, with whom SAC may have been considered to have been acting jointly or in concert, had beneficial ownership of 100 Trust Units, such that SAC and its joint actors had beneficial ownership of and/or control or direction over a total of 1,685,758 Trust Units which constituted approximately 9.96% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

On August 10, 2011, SAC acquired control or direction over 46,662 Trust Units of the Issuer on behalf of its managed accounts ("Second Reportable Event"). As a result of this acquisition of Trust Units, as at August 10, 2011, SAC may be considered, under Canadian securities laws, to have had control or direction over 1,722,063 Trust Units of the Issuer on behalf of managed accounts. In addition, Maria E. Smith, a director and the Chief Executive Officer of SAC, with whom SAC may have been considered to have been acting jointly or in concert, had beneficial ownership of 100 Trust Units, such that SAC and its joint actors had beneficial ownership of and/or control or direction over a total of 1,722,163 Trust Units which constituted approximately 10.17% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Subsequently, on August 11, 2011, SAC disposed of 36,180 Trust Units of the Issuer on behalf of its managed accounts. Immediately following this disposition of Trust Units, as at August 11, 2011, SAC may be considered, under Canadian securities laws, to have had control or direction over 1,758,243 Trust Units of the Issuer on behalf of managed accounts. In addition, Maria E. Smith, a director and the Chief Executive Officer of SAC, with whom SAC may have been considered to have been acting jointly or in concert, had beneficial ownership of 100 Trust Units, such that SAC and its joint actors had beneficial ownership of and/or control or direction over a total of 1,758,343 Trust Units which constituted approximately 9.11% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

On September 26, 2011, SAC acquired control or direction over 140,607 Trust Units of the Issuer on behalf of its managed accounts ("Third Reportable Event"). As a result of this acquisition of Trust Units, as at September 26, 2011, SAC may be considered, under Canadian securities laws, to have had control or direction over 1,941,376 Trust Units of the Issuer on behalf of managed accounts. In addition, Maria E. Smith, a director and the Chief Executive Officer of SAC, with whom SAC may have been considered to have been acting jointly or in concert, had beneficial ownership of 200 Trust Units, such that SAC and its joint actors had beneficial ownership of and/or control or direction over a total of 1,941,576 Trust Units, which constituted approximately 10.06% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

Subsequently, on May 21, 2012, SAC disposed of 139,692 Trust Units of the Issuer on behalf of its managed accounts. Immediately following this disposition of Trust Units, as at May 21, 2012, SAC may be considered, under Canadian securities laws, to have had control or direction over 1,910,930 Trust Units of the Issuer on behalf of managed accounts. In addition, Maria E. Smith, a director and the Chief Executive Officer of SAC, with whom SAC may have been considered to have been acting jointly or in concert, had beneficial ownership of 200 Trust Units, such that SAC and its joint actors had beneficial ownership of and/or control or direction over a total of 1,911,130 Trust Units, which constituted approximately 9.90% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

All transactions referred to in this release were completed on the New York Stock Exchange.

For the periods that SAC may be considered, under Canadian securities laws, to have had ownership and/or control or direction over 10% or more of the Trust Units of the Issuer as described herein (the "Relevant Periods"), the securities that are subject of this release were purchased for, and were held for, investment purposes only and not for the purpose of exercising control or direction over the Issuer. The purchases were made in the ordinary course of SAC's and the joint actor's investment activities. During the Relevant Periods, neither SAC, nor the joint actor had any plan or proposal which related to, or would have resulted in acquiring additional ownership or control over the securities of the Issuer, other than in the ordinary course of business of SAC or the joint actor. During the Relevant Periods, SAC's and the joint actor's decisions as to whether to purchase or sell securities of the Issuer were dependant on market conditions and other factors material to the investment decision.

In addition, for informational purposes only, SAC reports that as at the date of this release, SAC may be considered, under Canadian securities laws, to have control or direction over 1,759,283 Trust Units of the Issuer on behalf of managed accounts. In addition, Maria E. Smith, a director and the Chief Executive Officer of SAC, with whom SAC may be considered to be acting jointly or in concert, has beneficial ownership of 200 Trust Units, such that SAC and its joint actors have beneficial ownership of and/or control or direction over a total of 1,759,483 Trust Units, which constitutes approximately 9.12% of the issued and outstanding Trust Units of the Issuer, calculated as at such date in accordance with applicable Canadian securities laws.

The filing of this release is not an admission that any entity named in this release owns or controls any securities described in this release or is a joint actor with another named entity.

The address of SAC is: 88 Pine Street, 5^th Floor, New York, New York, U.S.A., 10005