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Sprott Physical Uranium Trust Raises US$25.55 Million Through Non-Brokered Private Placement
TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott”) on behalf of the Sprott Physical Uranium Trust (TSX: U.UN) (TSX: U.U) (“SPUT” or the “Trust”) today announced that SPUT has completed a US$25.55 million non-brokered private placement of trust units. The proceeds are expected to be used to cover general operating expenses of the Trust for the next year. “We launched SPUT with the objective of providing investors with the most liquid and efficient way to invest in ph
About this update from Sprott Inc.
[{"type":"image","alt":"Sprott Inc.","displaySize":"","headline":null,"caption":"Sprott Inc.","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":232,"height":99,"url":"https://media.zenfs.com/en/globenewswire.com/fa7eff3ad8e3b710d06ecad8ead237de"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/KQGOmm3nZxs_e6280YEi0w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE3OTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/fa7eff3ad8e3b710d06ecad8ead237de","width":232,"height":99}},"lazy":false},{"type":"text","content":"TORONTO, May 12, 2025 (GLOBE NEWSWIRE) — Sprott Inc. (NYSE/TSX: SII) (“Sprott”) on behalf of the Sprott Physical Uranium Trust (TSX: U.UN) (TSX: U.U) (“SPUT” or the “Trust”) today announced that SPUT has completed a US$25.55 million non-brokered private placement of trust units. The proceeds are expected to be used to cover general operating expenses of the Trust for the next year.","length":384,"tagName":"p"},{"type":"text","content":"“We launched SPUT with the objective of providing investors with the most liquid and efficient way to invest in physical uranium,” said John Ciampaglia, CEO of Sprott Asset Management. “Since the Trust was launched in 2021, it has purchased approximately 48 million pounds of U3O8 and not sold or loaned out a single pound. I would like to take this opportunity to strongly reiterate that SPUT has the tools, including this private placement, to deliver on its intention not to sell any of the physical uranium that SPUT holds on behalf of thousands of investors. Sprott Asset Management participated in this placement alongside the subscribers and we thank all our unitholders for their continued support of SPUT.”","length":715,"tagName":"p"},{"type":"text","content":"Key SPUT Statistics Pro Forma for the Offering: ","length":47,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"World’s largest physical uranium fund1","length":38,"tagName":"p"}]},{"val":[{"type":"text","content":"66.2 million pounds of physical uranium in U3O8 form","length":52,"tagName":"p"}]},{"val":[{"type":"text","content":"US$31.4 million of net cash","length":27,"tagName":"p"}]},{"val":[{"type":"text","content":"Net asset value of US$4.64 billion","length":34,"tagName":"p"}]},{"val":[{"type":"text","content":"Storage locations in Canada, the United States and France","length":57,"tagName":"p"}]}...