On April 27, 2015, Silver Bullion Trust filed a management information circular urging its unitholders to elect its trustee nominees: Bruce D. Heagle, Ian M. T. McAvity, Michael A. Parente, Jason A. Schwandt, and J.C. Stefan Spicer to its Board of Trustees. In addition, the Trust recommended its shareholders to vote against Polar Securities Inc.'s proposed resolutions and disregard any materials and proxy forms received from Polar Securities.