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  • Sprott Physical Uranium Trust (U.UN) completes arrangement with Uranium Participation Corporation
  • The trust begins trading this morning on the Toronto Stock Exchange under the symbol “U.UN” in Canadian dollars and “U.U” in U.S. dollars
  • It reporter in May of 2021 how management fees increasing from $22.5 million for Q1 in 2021 to $7.3 million from the prior period
  • Also noted was how the commission revenues were $12.5 million that quarter
  • Sprott is a global leader in precious metal investments
  • Sprott Asset Management LP (U.UN) is down 2.92 per cent, trading at $45.16 at 12:13 pm ET

Sprott Physical Uranium Trust (U.UN) has completed an arrangement with Uranium Participation Corporation (UPC).

UPC’s shareholders are now unitholders of the trust. The trust begins trading this morning on the Toronto Stock Exchange under the symbol “U.UN” in Canadian dollars and “U.U” in U.S. dollars.

Important information about the Trust, including its investment objectives and strategies, applicable management fees, and expenses, can be found on its website at www.sprott.com.

“This transaction adds approximately US$600 million to Sprott’s total AUM and provides the company an important strategic foothold in the clean energy metals space,” said Peter Grosskopf, CEO of Sprott.

“We have a very constructive view on uranium and believe this new trust presents a compelling opportunity to create value for our shareholders by expanding our offerings into areas that complement our core positioning in precious metals,” added Grosskopf.

Back in May of 2021, it released financial results for its Q1 OF 20-21. Items that were reposted were management fees increasing from $22.5 million for Q1 in 2021 to $7.3 million from the prior period.

Also noted was how the commission revenues were $12.5 million this quarter. This ended up increasing $7.3 million from the prior period. Also up, was the loss on investments which ended up being $4.7 million for Q1. This increase was a 37 per cent increase from the prior period due to higher interest income from co-investments and certain equity holdings.

The performance of the Trust is not guaranteed, its value changes frequently and past performance is not an indication of future results.

Sprott is a global leader in precious metal investments. With offices in Toronto, New York, and London, Sprott is dedicated to providing investors with specialized investment strategies that include Exchange Listed Products, Managed Equities, Lending, and Brokerage. 

Sprott Asset Management LP (U.UN) is down 2.92 per cent, trading at $45.16 at 12:13 pm ET.

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