Sprott Asset Management LP, a subsidiary of Sprott Inc., has updated its at-the-market equity program for the Sprott Physical Platinum and Palladium Trust. The Trust, established as a closed-ended mutual fund trust, focuses on investing in physical platinum and palladium bullion. The recent announcement includes issuing an additional US$50 million of units in the United States and Canada under the updated program.
The Trust’s at-the-market equity program involves sales agreements with various entities, including Cantor Fitzgerald & Co., Virtu Americas LLC, BMO Capital Markets Corp., and Canaccord Genuity LLC in the United States, along with other Canadian agents. Sales of units will be executed through existing trading markets in the US and Canada at prevailing market prices, with the Trust retaining discretion over the volume and timing of distributions.
The proceeds from the equity program will be utilized by the Trust to acquire physical platinum and palladium bullion in alignment with its investment objectives and operational constraints. The offering is made in compliance with prospectus supplements and base shelf prospectuses filed with regulatory authorities in the United States and Canada, ensuring transparency and regulatory adherence.
Investors are advised to review the Offering Documents, including the Trust’s annual information form, to gain comprehensive insights into the Trust’s strategies, fees, and investment objectives. The Trust emphasizes that past performance is not indicative of future results, highlighting the dynamic nature of precious metals investments.
Forward-looking statements in the press release outline the Trust’s assumptions and intentions regarding the equity program, subject to market dynamics and regulatory approvals. The Trust acknowledges the inherent uncertainties and risks associated with the precious metals market, underscoring the importance of continuous evaluation and disclosure.
Sprott Asset Management, as the investment manager to the Trust, leverages its expertise in precious metals and critical materials investments to navigate the evolving market landscape. The Trust’s commitment to investor interests and regulatory compliance underscores its position as a key player in the industry.
The Trust’s global presence, with offices in Toronto, New York, Connecticut, and California, coupled with its listing on the NYSE and TSX, reflects its strategic approach to catering to diverse investor needs and preferences. Sprott’s specialization in Exchange Listed Products, Managed Equities, and Private Strategies further enhances its appeal to a wide range of investors seeking exposure to precious metals.
As the Trust continues to navigate market uncertainties and regulatory requirements, its focus on transparency, investor relations, and strategic investments in physical platinum and palladium bullion positions it as a reliable investment vehicle for those seeking exposure to these precious metals.
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