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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...
About this update from Sprott Inc.
[{"type":"text","content":"Sprott Physical Uranium Trust Raises US$25.55 Million Through Non-Brokered Private Placement\n\n\n\n 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.\n \n\n “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 U\n \n 3\n \n O\n \n 8\n \n 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.”\n \n\n\n Key SPUT Statistics Pro Forma for the Offering:\n \n\n\n\n World’s largest physical uranium fund\n \n 1\n \n\n\n 66.2 million pounds of physical uranium in U\n \n 3\n \n O\n \n 8\n \n form\n \n\n US$31.4 million of net cash\n \n\n Net asset value of US$4.64 billion\n \n\n Storage locations in Canada, the United States and France\n \n\n\n\n\n About Sprott\n \n\n\n Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “SII”. For more information, please visit www.sprott.com.\n \n\n\n About SPUT\n \n\n\n Important information about SPUT, including its investment objectiv...