TORONTO,
Nov. 8 /PRNewswire/ - 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 invested substantially all of the proceeds of its recent
Initial Public Offering in silver bullion. The Trust has
purchased 21,942,926 ounces of silver at an average cost of
$24.24 per ounce.
The Units are listed on the NYSE Arca and the
Toronto Stock Exchange under the symbols 'PSLV' and 'PHS.U',
respectively.
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.
SOURCE Sprott Inc.
Copyright v. 8 PR Newswire