Issuer:

Vaulted Gold Bullion Trust

Securities:

Class A Gold Deposit Receipts, Class F Gold Deposit Receipts, Class F-1 Gold Deposit Receipts, Class F-2 Gold Deposit Receipts, Class F-3 Gold Deposit Receipts, and Class S Gold Deposit Receipts (collectively, the “Gold Deposit Receipts” or the “Receipts”), each representing an undivided beneficial ownership in a fixed quantity of unencumbered, allocated, physical gold bullion (“Gold Bullion”). The Gold Bullion will be held for the benefit of holders of Gold Deposit Receipts in an account operated by Bank of Montreal at the Royal Canadian Mint. The Gold Deposit Receipts are separate from the Gold Bullion.

Period:

January 1 - January 31, 2019

Number of Class A and
Class F through Class F-3
Receipts Sold in Period:

37 Class A Gold Deposit Receipts

Number of Class S Gold
Deposit Receipts Sold in
Period:

None

Aggregate Gold Deposit
Receipts of All Classes
Outstanding at Period
End:¹

A total of 153,336 Gold Deposit Receipts outstanding.

Daily High and Low Sale
Price to Public per Class
A Gold Deposit Receipt
Sold in Period:

The sales of the Class A Gold Deposit Receipts took place on January 22, 2019 at $1,310.61 and on January 30, 2019 at $1,337.73, representing the prevailing interbank spot prices for one troy ounce of gold, plus a 2.00% deposit fee.  

Net Proceeds to the
Trust:

$47,674.62

Listing:

The Gold Deposit Receipts will not be listed or traded on any securities exchange.

Underwriter:

BMO

CUSIP/ISIN for Class A
Gold Deposit Receipts:

92242D 205 / US92242D2053