Sprott Continues to Build Physical Bullion Franchise Through $280
million IPO of Sprott Physical Platinum and Palladium Trust
TORONTO,
Dec. 21, 2012 /CNW/ - Sprott Inc.
(TSX: SII) ("Sprott") today announced that the Sprott
Physical Platinum and Palladium Trust (NYSE Arca: SPPP) (TSX:
PPT.U), which is managed by Sprott Asset Management LP, has
successfully completed a US$280
million initial public offering ("IPO").
"We are pleased to add the Sprott
Physical Platinum and Palladium Trust to the suite of
publicly-traded physical bullion products managed by Sprott Asset
Management, which also includes the Sprott Physical Gold Trust and
Sprott Physical Silver Trust," said Peter
Grosskopf, Chief Executive Officer of Sprott. "Globally,
investor demand for physical bullion continues to grow and, with
this offering, our physical trusts now have more than $4.5 billion in total assets under
management."
About the Sprott Physical Trusts
The goal of the Sprott Physical Trusts is to
provide a secure, convenient and exchange-traded investment
alternative for investors who want to hold physical bullion. The
Trusts offer a number of advantages over traditional
exchange-traded bullion funds, including potential tax advantages
for certain U.S. investors. Each of the Trusts is listed on the
NYSE Arca and Toronto Stock Exchange under the following
symbols:
- Sprott Physical Gold Trust: (NYSE Arca: PHYS) (TSX: PHY.U)
- Sprott Physical Silver Trust: (NYSE Arca: PSLV) (TSX:
PHS.U)
- Sprott Physical Platinum and Palladium Trust: (NYSE Arca: SPPP)
(TSX: PPT.U)
To learn more about the Sprott Physical Trusts,
please visit www.sprottphysicalbullion.com
About Sprott Inc.
Sprott Inc. is a leading independent asset
manager dedicated to achieving superior returns for its clients
over the long term. The Company currently operates through four
business units: Sprott Asset Management LP, Sprott Private Wealth
LP, Sprott Consulting LP, and Sprott U.S. Holdings Inc. Sprott
Asset Management is the investment manager of the Sprott family of
mutual funds and hedge funds and discretionary managed accounts;
Sprott Private Wealth provides wealth management services to high
net worth individuals; and Sprott Consulting provides management,
administrative and consulting services to other companies. Sprott
Inc. is headquartered in Toronto,
Canada, and its common shares are listed on the Toronto
Stock Exchange under the symbol "SII". For more information on
Sprott Inc., please visit www.sprottinc.com.
SOURCE Sprott Inc.