UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2008
CENTRAL FUND OF CANADA LIMITED
(Translation
of registrant’s name into English)
Suite 805, 1323 - 15th Avenue S.W., Calgary, Alberta , Canada T3C
0X8
(Address of principal
executive office)
[Indicate
by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F:
[Indicate
by check mark whether the registrant by furnishing the information in this Form is
also hereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
[If
“Yes” is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
N/A
]
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.
|
CENTRAL
FUND OF CANADA LIMITED
(Registrant)
|
Date: March 19,
2008
|
By: /s/ J.C.
STEFAN SPICER
_______________________________
(Signature)
J.C. Stefan Spicer,
President & CEO
|
FORM
51-102F3
MATERIAL CHANGE REPORT UNDER
NATIONAL INSTRUMENT 51-102
Item 1.
– Reporting Issuer:
Central
Fund of Canada Limited (“
Central
Fund
”)
1323
15
th
Avenue S.W., Suite 805
Calgary,
Alberta
T3C
0X8
Item 2.
– Date of Material Change:
March 5,
2008
Item 3.
– Press Release:
A news
release with respect to the material change referred to in this report was issued through
newswire services on March 5, 2008 and filed on the system for electronic document analysis
and retrieval (SEDAR).
Item 4.
– Summary of Material Change:
On
February 27, 2008, Central Fund announced that it entered into an agreement with CIBC World
Markets Inc. under which the underwriter agreed to buy and sell to the public, in all the
provinces and territories of Canada except Quebec, and in the United States, under the
multijurisdictional disclosure system, 4,318,181 non-voting, fully participating Class A
Shares of Central Fund at U.S.$13.20 per Class A Share. On March 5, 2008, Central Fund
announced that it completed the sale of 4,318,181 Class A Shares at a price of U.S.$13.20
to CIBC World Markets Inc. and raised total gross proceeds of
U.S.$56,999,989.20.
Item 5.
– Full Description of Material Change:
Please see
the attached Schedule “A”.
Item 6.
– Reliance on Section 7.1(2) or (3) of National Instrument 51-102:
N/A
Item 7.
– Omitted Information:
N/A
Item 8.
– Executive Officer:
Inquiries
in respect of the material change referred to herein may be made to:
J. C.
Stefan Spicer, President and Chief Executive Officer
Telephone:
|
(905) 648-7878
|
Facsimile:
|
(905) 648-4196
|
e-mail:
|
info@centralfund.com
|
Item 9.
– Date of Report:
March 7,
2008
|
CENTRAL FUND OF CANADA LIMITED
|
FOR IMMEDIATE RELEASE
on March 5, 2008
to Marketwire and U.S. Disclosure Circuit
TSX SYMBOLS: CEF.A and CEF.U
AMEX SYMBOL: CEF
CENTRAL FUND CLOSES APPROXIMATELY US$57 MILLION SHARE
ISSUE
TORONTO, Ontario (March 5, 2008)
- Central Fund of Canada Limited (“Central Fund”) of Calgary,
Alberta announced today that it has completed the sale of 4,318,181 non-voting, fully
participating Class A Shares of Central Fund at a price of U.S.$13.20 to CIBC World Markets
Inc. (the “Underwriter”), raising total gross proceeds of U.S. $56,999,989.20.
The Class A Shares offered were primarily sold to investors in Canada and in the United
States under the multijurisdictional disclosure system.
The underwritten price of U.S.$13.20 per Class A Share was
non-dilutive and accretive for the existing shareholders of Central Fund. In accordance
with its investment policies, Central Fund has invested substantially all of the net
proceeds of the issue (after deducting fees payable to the Underwriter and expenses of the
issue) in gold and silver bullion, with the balance of the net proceeds reserved for
additional bullion purchases and working capital purposes. It is anticipated that the
additional capital raised by the issue will assist Central Fund’s objective of
reducing the annual expense ratio in favour of all shareholders.
The new total of issued and outstanding Class A Shares of
Central Fund is 129,452,713. The investment holdings of Central Fund are now represented by
approximately 830,585 fine ounces of gold, 41,523,556 ounces of silver and U.S.$29,017,158
in cash.
The Class A Shares of Central Fund are qualified investments
for RRSPs, DPSPs, RRIFs, RESPs and RDSPs. The Class A Shares are also eligible investments
in the United States for various regulated investors and accounts.
The Class A Shares of Central Fund have been listed on the
Toronto Stock Exchange (CEF.A/CEF.U) since 1966 and on the AMEX (CEF) since 1986. They may
be purchased on either stock exchange by worldwide investors.
Central Fund has filed with the Canadian securities
regulatory authorities and the United States Securities and Exchange Commission ("SEC") a
third prospectus supplement dated February 27, 2008, to the base shelf prospectus and
registration statement dated September 29, 2006 which will serve to qualify the offering to
which this communication relates. Before you invest, you should read the base shelf
prospectus, the third prospectus supplement and any other documents the Company has filed
with the securities commissions in each of the provinces and territories of Canada, except
Quebec, and the SEC for more complete information about the Company and this offering. You
may obtain a copy of the base shelf prospectus and the third prospectus supplement filed in
the United States from CIBC World Markets Corp., 300 Madison Avenue, New York, New York
10017 or request a copy by telephone at 212-667-7014. You may obtain a copy of the base
shelf prospectus and the third prospectus supplement in Canada from CIBC World Markets
Inc., fax 416-594-7242 or request a copy by telephone at 416-594-7270. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of
any such state.
Central Fund of Canada Limited (est. 1961) is an exchange
tradeable refined gold and silver bullion
holding company. Class A Shares are qualified for inclusion
in many North American regulated
accounts. Bullion holdings are stored on an unencumbered,
allocated, segregated and insured basis in the
treasury vaults of a major Canadian bank and are audited
semi-annually in the presence of Central Fund’s
auditors and bank representatives. Class A Shares are quoted
on the AMEX, symbol CEF and the TSX,
symbol CEF.A (Cdn.$) and CEF.U (U.S.$).
For further information, please contact J.C. Stefan
Spicer, President and CEO at 905-648-7878. Website:
www.centralfund.com
. Email:
info@centralfund.com
.