Sprott Completes Initial Public Offering of Sprott Physical Silver Trust
03 Novembre 2010 - 4:20PM
PR Newswire (Canada)
TORONTO, Nov. 3 /CNW/ -- TORONTO, Nov. 3 /CNW/ - Sprott Inc. (TSX:
SII) ("Sprott") today announced that Sprott Physical Silver Trust
(the "Trust"), a trust created to invest and hold substantially all
its assets in physical silver bullion and managed by Sprott Asset
Management LP, a wholly-owned subsidiary of Sprott, has completed
its initial public offering (the "Offering") of 57,500,000 units
("Units") at US$10.00 per Unit (including the exercise by the
underwriters of their entire overallotment of 7,500,000 Units), for
gross proceeds of US$575,000,000. The Units are listed on the NYSE
Arca and the Toronto Stock Exchange under the symbols 'PSLV' and
'PHS.U', respectively. The Offering was made simultaneously in the
United States and Canada through a syndicate of underwriters led by
Morgan Stanley and RBC Capital Markets in the United States and RBC
Capital Markets and Morgan Stanley in Canada. The Canadian
syndicate includes TD Securities Inc., Canaccord Genuity Corp.,
National Bank Financial Inc., BMO Capital Markets, HSBC Securities
(Canada) Inc., GMP Securities L.P., Wellington West Capital Markets
Inc., and Mackie Research Capital Corporation. Copies of the U.S.
prospectus related to this Offering may be obtained by contacting
Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd
Floor, New York, New York 10014 Attention: Prospectus Department
(telephone: 866-718-1649 (toll free) or 917-606-8474) or by
e-mailing prospectus@morganstanley.com, or RBC Capital Markets
Corporation, Attention: Prospectus Department, Three World
Financial Center, 200 Vesey Street, 8th floor, New York, New York
10281- 8098 (telephone: 212-428-6670, fax: 212-428-6260). The
offering in Canada is only being made by the Canadian prospectus,
which includes important detailed information about the Units being
offered. Copies of the Canadian prospectus related to this
Offering may be obtained by contacting RBC Capital Markets,
Attention: Distribution Centre, 277 Front St. W., 5th Floor,
Toronto, Ontario M5V 2X4 (fax: 416-313-6066) or Morgan Stanley
& Co. Incorporated 180 Varick Street, 2nd Floor, New York, New
York 10014 Attention: Prospectus Department (telephone 866-718-1649
(toll free) or 917-606-8474) or by e-mailing
prospectus@morganstanley.com. Investors should read the
prospectus before making an investment decision. Additional detail
on the Trust can be found in the final prospectus available on
EDGAR (www.edgar.com) and SEDAR (www.sedar.com) or on the Trust's
website at www.sprottphysicalsilvertrust.com. About Sprott Asset
Management Sprott Asset Management LP (www.sprott.com), a wholly
owned subsidiary of Sprott Inc. (www.sprottinc.com) is a fund
company dedicated to achieving superior returns for its investors
over time. SAM manages assets primarily for institutions,
endowments and high net worth individuals. Sprott Asset Management
LP is the investment manager of the Sprott Funds. Commissions,
trailing commissions, management fees and expenses all may be
associated with mutual fund investments. Please read the prospectus
before investing. Mutual Funds are not guaranteed, their values
change frequently and past performance may not be repeated. The
information contained herein does not constitute an offer or
solicitation by anyone in the United States or in any other
jurisdiction in which such an offer or solicitation is not
authorized or to any person to whom it is unlawful to make such an
offer or solicitation. Prospective investors should consult their
financial advisor to determine if these Funds may be sold in their
jurisdiction. To view this news release in HTML formatting, please
use the following URL:
http://www.newswire.ca/en/releases/archive/November2010/03/c8582.html
p align="justify"bInvestor contact information:/b/p p
align="justify"Telephone: (416) 203-2310br/ Toll Free: 1 (877)
403-2310br/ Email: a href="mailto:ir@sprott.com"
cr="true"ir@sprott.com/a/p
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