The Royal Canadian Mint (TSX: MNT / MNT.U) announced on September 22, 2026, that it has priced a follow-on bought-deal offering of gold Exchange-Traded Receipts (ETRs) under its Canadian Gold Reserves programme at C$65.82 per ETR. The offering covers 501,175 ETRs for gross proceeds of approximately C$32,987,338.50. Closing is expected around September 24, 2026, subject to Toronto Stock Exchange approval and customary conditions, making this a closely watched near-term milestone for investors holding or considering MNT units.

Key Points

  • Royal Canadian Mint (TSX: MNT / MNT.U) announced pricing of its follow-on ETR offering on September 22, 2026
  • 501,175 ETRs priced at C$65.82 each for gross proceeds of approximately C$32,987,338.50
  • Closing expected on or around September 24, 2026, subject to TSX approval and customary conditions
  • Investors may watch for confirmation of closing and the deployment of proceeds into physical gold holdings

Offering Structure and Proceeds Allocation Under the Canadian Gold Reserves Programme

The Mint priced 501,175 ETRs at C$65.82 per unit, generating gross proceeds of approximately C$32,987,338.50. The release states that net proceeds will be used to purchase gold investment products on behalf of ETR subscribers. Each ETR confers direct legal and beneficial ownership of gold investment products held in custody at the Mint's Ottawa facilities. The ETRs to be issued are identical to and fully fungible with currently outstanding units listed on the Toronto Stock Exchange under the symbols MNT and MNT.U in Canadian and U.S. dollars respectively.

Redemption Rights and Physical Gold Backing for ETR Holders

Subject to certain restrictions, ETR holders retain the right to redeem their units for physical gold of a minimum purity of 99.99%, or for a cash equivalent. The announcement notes that holders have no recourse against the Mint or the Government of Canada in the event of a loss on their investment. The ETRs have not been and will not be registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Syndicate of Underwriters Co-Led by TD Securities and National Bank Financial

The bought-deal offering is conducted through an underwriting syndicate co-led by TD Securities Inc. and National Bank Financial Inc. Additional syndicate members include CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord Genuity Corp., iA Private Wealth Inc., Raymond James Ltd., ATB Capital Markets Corp., Desjardins Securities Inc., Manulife Wealth Inc., and Hampton Securities Limited. The offering is being made pursuant to a prospectus exemption granted by the Ontario Securities Commission in favour of the Mint.