Sprott Asset Management Enters Into Agreement With Uranium Participation Corporation to Form the Sprott Physical Uranium Trust

TORONTO, April 28, 2021 (GLOBE NEWSWIRE) — Sprott Inc. (“Sprott”) (NYSE/TSX: SII) announced today that Sprott Asset Management LP (“Sprott Asset Management”), a wholly-owned subsidiary of Sprott has entered into a definitive agreement with Uranium Participation Corporation (“UPC”) (TSX: U) pursuant to which UPC shareholders will become unitholders of the Sprott Physical Uranium Trust (the “Trust”), a newly-formed entity managed by Sprott Asset Management.

UPC is the world’s largest publicly traded investment vehicle providing investors an opportunity to gain exposure to the price of uranium, outside of a traditional mining company, through holdings of physical uranium in the form of uranium oxide in concentrates ("U 3 O 8 ") and uranium hexafluoride ("UF 6 "). At the end of March 2021, UPC reported holding 16,269,658 pounds U 3 O 8 and 300,000 KgU as UF 6 , with a then market value of approximately C$665 million.

“Sprott Asset Management currently manages […]

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