Robert R. Sale

Central Fund of Canada Ltd. is a closed-end investment fund. It invests in long-term holdings of unencumbered, allocated and physically segregated gold and silver bullion and does not speculate in gold and silver prices. The company was founded by Philip M. Spicer on November 15, 1961 and is headquartered in Calgary, Canada.

Central GoldTrust is a passive, self-governing, single purpose, closed-end trust with voting Units. The trust invests primarily in long-term holdings of gold bullion and does not speculate in gold prices. Its purpose is to acquire, hold and secure gold bullion on behalf of its Unitholders. Central GoldTrust was founded on April 28, 2003 and is headquartered in Ancaster, Canada.

Purpose Silver Bullion Fund is a closed-end investment fund/investment trust. The objective of the trust is to provide a secure, convenient, low-cost, exchange-tradeable alternative for investors interested in holding an investment in silver bullion. The company was founded by Stefan J. C. Spicer on June 8, 2009 and is headquartered in Ancaster, Canada.