Gamco Global Gold, Natural Resources & Income Trust by Gabelli is Pleased to
Announce the Offering of $100 Million of 5.00% Series B Cumulative Preferred
RYE, N.Y. -- May 3, 2013
The Board of Trustees of the GAMCO Global Gold, Natural Resources & Income
Trust by Gabelli (NYSE MKT:GGN) (the “Fund”) is pleased to announce the
underwritten offering of 4 million 5.00% Series B Cumulative Preferred Shares
(“Series B Preferred Shares”) at a public offering price of $100 million. The
offering is expected to close on Tuesday, May 7, 2013, subject to customary
The Fund expects to use the proceeds from the offering to redeem the remaining
outstanding shares of the Fund’s 6.625% Series A Cumulative Preferred Shares
(the “Series A Preferred Shares”). Amounts in excess of the redemption amount
of the Series A Preferred Shares are expected to be used for investment
purposes consistent with the Fund’s investment objectives.
The Series B Preferred Shares are rated A1 by Moody’s Investors Service, Inc.
The Series B Preferred Shares are perpetual, non-callable for five years, and
will be issued at $25.00 per share. Dividends are scheduled to be paid
quarterly beginning on June 26, 2013. The Series B Preferred Shares are
expected to commence trading on the NYSE MKT under the symbol “GGN Pr B”
within thirty days of the date of issuance.
The Board of Trustees would like to thank all participants in the offering,
which was led by Citigroup Global Markets Inc. and BofA Merrill Lynch.
Investors are advised to carefully consider the investment objectives, risks,
charges and expenses of the Fund before investing. The preliminary prospectus
supplement dated May 2, 2013, the accompanying prospectus dated April 10,
2013, and the Statement of Additional Information dated April 10, 2013, each
of which have been filed with the Securities and Exchange Commission, contain
this and other information about the Fund and should be read carefully before
About the Fund
The information in the preliminary prospectus supplement, the accompanying
prospectus and this press release is not complete and may be changed. The
preliminary prospectus supplement, the accompanying prospectus and this press
release are not offers to sell any securities of the Fund and are not
soliciting an offer to buy such securities in any jurisdiction where such
offer and sale is not permitted.
The offering may be made only by means of a preliminary prospectus supplement
and an accompanying prospectus, copies of which may be obtained from (1)
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, telephone: (800) 831-9146, or
e-mailing: firstname.lastname@example.org and (2) Merrill Lynch, Pierce, Fenner &
Smith Incorporated, 222 Broadway, 7th Floor, New York, NY 10038, Attention:
Prospectus Department, or e-mailing: email@example.com.
The GAMCO Global Gold, Natural Resources & Income Trust by Gabelli is a
non-diversified, closed-end management investment company with $1.2 billion in
total net assets whose primary investment objective is to provide a high level
of current income. The Fund invests primarily in equity securities of gold and
natural resources companies and intends to earn income primarily through a
strategy of writing (selling) primarily covered call options on equity
securities in its portfolio. The Fund is managed by Gabelli Funds, LLC, a
subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded
NYSE listed company.
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties, including, but not limited to,
statements as to our future operating results; our business prospects and the
prospects of our portfolio companies; the impact of investments that we expect
to make; the dependence of our future success on the general economy and its
impact on the industries in which we invest; the ability of our portfolio
companies to achieve their objectives; our expected financings and
investments; the adequacy of our cash resources and working capital; and the
timing of cash flows, if any, from the operations of our portfolio companies.
The Fund may use words such as “anticipates,” “believes,” “expects,”
“intends,” “will,” “should,” “may” and similar expressions to identify
forward-looking statements. Such statements are based on currently available
operating, financial and competitive information and are subject to various
risks and uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations. Undue reliance
should not be placed on such forward-looking statements as such statements
speak only as of the date on which they are made. The Fund does not undertake
to update our forward-looking statements unless required by law.
GAMCO Global Gold, Natural Resources & Income Trust
Molly Marion / Laurissa Martire
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