TORONTO, ONTARIO--(Marketwired - Dec. 1, 2017) - iShares Delaware Trust Sponsor LLC ("Sponsor"), an indirect, wholly-owned subsidiary of BlackRock, Inc. ("BlackRock"), in its capacity as the sponsor of iShares Gold Trust ("Trust") (NYSE Arca:IAU), has announced that it has applied to the Ontario Securities Commission for an order declaring that the Trust is not a reporting issuer for purposes of Ontario securities law. The Trust is currently a reporting issuer in Ontario only and is not a reporting issuer in any other jurisdiction of Canada.
As a reporting issuer in Ontario, the Trust is subject to certain Canadian filing and disclosure requirements, as well as filing and disclosure requirements that are applicable to it pursuant to the securities laws of the United States and the requirements of the NYSE Arca, Inc. ("NYSE Arca"), where the Trust's shares are currently listed and traded. The Trust has applied for an order to cease being a reporting issuer in Canada because its securities do not trade on any marketplace in Canada.
An order of the Ontario Securities Commission that the Trust is not a reporting issuer in Ontario will not affect the Trust's continued compliance with its reporting obligations under United States securities laws, its listing on NYSE Arca or its continued compliance with the requirements of NYSE Arca or the securities laws of other applicable jurisdictions. If the order is granted, the Trust will no longer be a reporting issuer in Ontario or any other jurisdiction of Canada and it will no longer be subject to Canadian continuous disclosure requirements.
All continuous disclosure documents that have been filed by the Trust in accordance with U.S. securities laws can be accessed online on the EDGAR website at www.sec.gov/edgar.shtml and on the Trust's website at https://www.ishares.com/us/products/239561/ishares-gold-trust-fund.
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of September 30, 2017, the firm manages approximately US$5.977 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com/ca - Twitter: @BlackRockCA - Blog: www.blackrockblog.com/can.
iShares® is a global leader in exchange-traded funds (ETFs), with more than a decade of expertise and commitment to individual and institutional investors of all sizes. With over 800 funds globally across multiple asset classes and strategies and more than US$1.5 trillion in assets under management as of September 30, 2017, iShares helps clients around the world build the core of their portfolios, meet specific investment goals and implement market views. iShares funds are powered by the expert portfolio and risk management of BlackRock, trusted to manage more money than any other investment firm.(1)
(1) Based on US$5.977 trillion in AUM as of 9/30/17.
The Trust has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents the Trust has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting or EDGAR on the SEC website at www.sec.gov. Alternatively, the Trust will arrange to send you the prospectus if you request it by calling toll-free 1-800-474-2737.
Investing involves risk, including possible loss of principal. Because Shares of the Trust are intended to reflect the price of the gold held by the Trust, the market price of the Shares is subject to fluctuations similar to those affecting gold prices. Additionally, Shares of the Trust are bought and sold at market price, not at net asset value ("NAV"). Brokerage commissions will reduce returns.
Shares of the Trust are intended to reflect, at any given time, the market price of gold owned by the Trust at that time less the Trust's expenses and liabilities. The price received upon the sale of the Shares, which trade at market price, may be more or less than the value of the gold represented by such Shares. If an investor sells the Shares at a time when no active market for them exists, such lack of an active market will most likely adversely affect the price received for the Shares. For a more complete discussion of the risk factors relative to the Trust, carefully read the prospectus.
Following an investment in Shares of the Trust, several factors may have the effect of causing a decline in the prices of gold and a corresponding decline in the price of the Shares. Among them: (i) Large sales by the official sector. A significant portion of the aggregate world gold holdings is owned by governments, central banks and related institutions. If one or more of these institutions decides to sell in amounts large enough to cause a decline in world gold prices, the price of the Shares will be adversely affected; (ii) A significant increase in gold hedging activity by gold producers. Should there be an increase in the level of hedge activity of gold producing companies, it could cause a decline in world gold prices, adversely affecting the price of the Shares; and (iii) A significant change in the attitude of speculators and investors towards gold. Should the speculative community take a negative view towards gold, it could cause a decline in world gold prices, negatively impacting the price of the Shares.
Gold Spot Prices provided by The Bullion Desk. No warranty is given for the accuracy of these prices and no liability is accepted for reliance thereon. Prices are provided on a reasonable efforts basis and delays may occur both because of the delay in third parties communicating the information to the site and because of delays inherent in posting information over the internet. Prices shown are indicative only and do not represent actionable quotations on prices of actual trades.
The amount of gold represented by Shares of the Trust will decrease over the life of the Trust due to sales of gold necessary to pay the sponsor's fee and trust expenses. Without increases in the price of gold sufficient to compensate for that decrease, the price of the Shares will also decline, and investors will lose money on their investment. The Trust will have limited duration. The liquidation of the Trust may occur at a time when the disposition of the Trust's gold will result in losses to investors. Although market makers will generally take advantage of differences between the NAV and the trading price of Trust Shares through arbitrage opportunities, there is no guarantee that they will do so. There is no guarantee an active trading market will develop for the Shares, which may result in losses on your investment at the time of disposition of your Shares. The value of the Shares of the Trust will be adversely affected if gold owned by the Trust is lost or damaged in circumstances in which the Trust is not in a position to recover the corresponding loss. The Trust is a passive investment vehicle. This means that the value of your Shares may be adversely affected by Trust losses that, if the Trust had been actively managed, might have been avoidable.
Shares of the Trust are not deposits or other obligations of or guaranteed by BlackRock, Inc., and its affiliates, and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC. BlackRock Investments, LLC ("BRIL"), assists in the promotion of the Trust. The Sponsor and BRIL are affiliates of BlackRock, Inc. Although Shares of the Trust may be bought or sold on the secondary market through any brokerage account, Shares of the Trust are not redeemable from the Trust except in large aggregated units called "Baskets". Only registered broker-dealers that become authorized participants by entering into a contract with the sponsor and the trustee of the Trust may purchase or redeem Baskets.
All references to LBMA Gold Price are used with the permission of ICE Benchmark Administration Limited and have been provided for informational purposes only. ICE Benchmark Administration Limited accepts no liability or responsibility for the accuracy of the prices or the underlying product to which the prices may be referenced.
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