Sprott Asset Management Enters Into Agreement With Uranium Participation Corporation to Form the Sprott Physical Uranium Trust
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.
https://www.sprott.com/investo…t-physical-uranium-trust/