Central Fund of Canada Limited announced that Glenn Fox has been appointed as Lead Director and Chair of the Corporate Governance Committee of the Board of Directors of Central Fund. Mr. Fox is an economist and has been a member of the faculty and researcher at the University of Guelph since 1985 and was named a senior research fellow of the Fraser Institute in 2013. He began serving as a director of Central Fund in February, 2015.

Mr. Fox has agreed to assume these roles at a critical time when Central Fund and its directors are facing litigation by a subsidiary of Sprott Asset Management LP seeking certain relief under the Business Corporations Act (Alberta), including on grounds of oppression. Mr. Fox replaces Mr. Ian McAvity who stepped down as Lead Director of Central Fund and Chair of the Corporate Governance Committee of the Board of Directors of Central Fund. Mr. McAvity will continue to serve as a member of the Board of Directors of Central Fund.