Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-226132
Pricing Supplement No. 20
(To Prospectus dated July 27, 2018)
GOLD DEPOSIT RECEIPTS
Pricing Supplement
September 2021
| 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: | September 1 – September 30, 2021 |
| Number of Class A and Class F through Class F-3 Receipts Sold in Period: | 142 Class F-1 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 2,392 Gold Deposit Receipts outstanding. |
| 1 By | class, at August 31, 2021, there are Gold Deposit Receipts outstanding as follows: Class A, 204; Class F, 123; Class F-1, 2,065; Class F-2, 0; Class F-3, 0; and Class S, 0. |
| Daily High and Low Sale Price to Public per Class F-1 Gold Deposit Receipt Sold in Period: | The sale of the Class F-1 Gold Deposit Receipts took place on September 17, 2021 at $1,788.06, representing the prevailing interbank spot prices for one troy ounce of gold, plus a 2.00% deposit fee. |
| Net Proceeds to the Trust: | $248,926.00 |
| Listing: | The Gold Deposit Receipts will not be listed or traded on any securities exchange. |
| Underwriter: | BMO |
| CUSIP/ISIN for Class F-1 Gold Deposit Receipts: | 92242D403 / US92242D4034 |
The Gold Deposit Receipts are issued by the Vaulted Gold Bullion Trust and represent direct gold bullion ownership. The securities are not issued by or guaranteed by Bank of Montreal and are not bank deposits.