TORONTO, ONTARIO -- (Marketwired) -- 12/17/14 -- Goodman Gold Trust (the "Trust") (TSX: GGT.UN) today announced that it has reduced its 2014 distribution to $0.40 per unit, representing approximately 11% of net asset value. The distribution will be paid on January 28, 2015 to holders of units of record on December 31, 2014. The decision to reduce the distribution reflects the sharp decline in the price of gold and gold equities throughout 2014, which has exerted considerable downward pressure on the Trust's portfolio. The Trust remains committed to maximizing unitholder value through these turbulent markets. In addition to active portfolio management, to date, the Trust has purchased 197,523 trust units at a cost of approximately $632,000 pursuant to its normal course issuer bid. Purchasing shares through the NCIB has provided increased liquidity to unitholders while also increasing the net asset value. The Trust will continue to prudently assess the appropriateness of further purchases of units pursuant to these arrangements. The manager continues to work towards providing a full liquidity event by no later than January 2017.
GOODMAN GOLD TRUST is a closed-end investment trust managed by Goodman & Company, Investment Counsel Inc., and was created to provide unitholders with inflation protection, capital preservation and long-term capital appreciation through investment in precious metals and the securities of precious metals issuers, minerals issuers and minerals related issuers. At December 17, 2014, the Trust has 8,503,647 trust units issued and outstanding.
Contacts:
Goodman & Company, Investment Counsel Inc.
Toll-free at 1-866-694-5672
ir@goodmanandcompany.com
