Sprott Asset Management Enters Into Agreement With Uranium Participation Corporation to Form ...

Sprott Asset Management Enters Into Agreement With Uranium Participation Corporation to Form …

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 (“U3O8”) and uranium hexafluoride (“UF6″). At the end of March 2021, UPC reported holding 16,269,658 pounds U3O8 and 300,000 KgU as UF6, with a then market value of approximately C$665 million.

“Sprott Asset Management currently manages four physical commodity funds with approximately US$12 billion in assets under […]

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