Some discouraging disclosure from the company, admitting that the fund will operate just like GLD as the tool of the bullion banks…
Some discouraging disclosure from the company, admitting that the fund will operate just like GLD as the tool of the bullion banks (See fact sheet blow):
“Shares are not individually redeemable. Investors buy and sell shares of the Sprott ESG Gold ETF on a secondary market. Only market makers or ‘authorized participants’ may trade directly with the fund, typically in blocks of 50,000 shares.”
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via Globe Newswire, Islandia, New York
Tuesday, August 2, 2022
TORONTO — Sprott Asset Management, a wholly-owned subsidiary of Sprott Inc., today announced the launch of the Sprott ESG Gold ETF (NYSE Arca: SESG), the first exchange-traded fund to exclusively source and refine gold from globally recognized mining leaders in ESG based on special criteria developed by Sprott.
The new ETF will begin trading today on the New York Stock Exchange Arca.
SESG is the first gold ETF that invests in gold bullion that meets the environmental, social, and governance (“ESG”) and provenance standards specially developed by Sprott. Sprott has partnered with the Royal Canadian Mint to provide investors with an ETF that sources gold only from companies and mines that meet Sprott’s ESG screening criteria.
Initially, Sprott ESG Approved Gold will be sourced from several Canadian mines operated by Agnico Eagle Mines Ltd. and Yamana Gold.
John Ciampaglia, CEO of Sprott Asset Management, said: “We created SESG to fill a gap in the marketplace with a gold fund focused on trust, transparency, and traceability.
Our goal is to answer a number of key questions for investors: Where does my gold come from, who produced it and was it produced sustainably by recognized ESG leaders?
“Through our partnership with the Royal Canadian Mint and our relationships with leading Canadian gold producers, Sprott is uniquely positioned to offer a convenient way for investors to own physical gold that aligns with their ESG values.”
… For the remainder of the announcement:
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