Pekin Singer Strauss Asset Management, investment advisor to Appleseed Fund and high-net-worth individuals, is supporting Sprott Asset Management's offer to acquire all outstanding units of Central GoldTrust (GTU).

"As Central GoldTrust's largest unitholder, we're disappointed that the GTU trustees have so quickly dismissed the Sprott offer," said Adam Strauss, Pekin Singer Strauss co-CEO. "Not only is Sprott's exchange offer superior to the status quo, it already has significantly reduced Central GoldTrust's net asset value discount as others in the market have recognized its value. We expect the discount will be reduced further when GTU's physical gold assets are exchanged into a product with a superior management team and structure, including a physical redemption feature."

Conversely, if the Sprott offer is rejected, Strauss anticipates that the discount to NAV at which GTU trades could revert to the -8 percent level that existed before the Sprott offer was announced.

"As fiduciaries controlling substantial investments in GTU, we believe the Sprott offer will deliver significantly enhanced value to our investors. We're disappointed that the GTU trustees have not reached the same conclusion. As such, we will tender the units of GTU that we control to the Sprott Exchange Offer," he said.

Pekin Singer Strauss first purchased Central GoldTrust in 2010 and currently holds more than 1.2 million units through its separately managed accounts and Appleseed Fund, a go-anywhere value mutual fund where Central GoldTrust is a top holding.

Sprott Asset Management, an alternative asset manager, announced April 23 its intention to offer units of Sprott Physical Gold Trust in exchange for units of Central GoldTrust.

About Pekin Singer Strauss Asset Management

Founded in 1990, Pekin Singer Strauss Asset Management is a leading investment manager that seeks to generate superior returns over time by pursuing a disciplined value investing approach which minimizes investment risk with clients' capital. The independent, employee-owned firm is committed to maintaining the highest standards of ethics and objectivity and to serving as its clients' trusted advisor. For more information, visit  www.pekinsinger.com. Pekin Singer Strauss Asset Management is registered with the SEC as an investment adviser.

Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Investments in commodities may be affected by overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes and international economic and political developments. Commodities are assets that have tangible properties, such as oil, metals, and agricultural products. These instruments may subject the Fund to greater volatility than investments in traditional securities.

As of 03/31/2015 Appleseed Fund invested 11.3% of its portfolio into Central GoldTrust. You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund and should be read carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-800-470-1029. Distributed by Unified Financial Securities, Inc., 2960 North Meridian Street, Suite 300, Indianapolis, IN 46208. (Member FINRA)

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