Sprott Asset Management LP, a subsidiary of Sprott Inc., announced the establishment of an at-the-market equity program for the Sprott Physical Copper Trust, allowing for the issuance of up to US$500 million of trust units. The Trust, designed to hold physical copper metal assets, aims to cater to the growing demand for copper in various industries.
John Ciampaglia, CEO of Sprott Asset Management, emphasized the significance of copper in a time of increasing energy needs and technological advancements. The Trust offers investors an alternative to copper futures and mining equities, positioning itself as the world’s first physical copper investment vehicle.
The program, facilitated through a sales agreement with multiple agents, allows for the sale of units on the Toronto Stock Exchange and other Canadian trading markets. The Trust will determine the volume and timing of distributions under the program, utilizing the proceeds for the acquisition of physical copper metal in line with its investment objectives.
Investors are encouraged to review the Offering Documents for comprehensive information on the Trust, the Sales Agreement, and the ATM Program. The listing of units sold through the program on the TSX is subject to meeting listing requirements.
Sprott, renowned for its expertise in precious metals and critical materials investments, manages the Trust. With offices in multiple locations, Sprott offers specialized investment strategies including Exchange Listed Products, Managed Equities, and Private Strategies. For more information, visit www.sprott.com.
As with any investment, potential risks and uncertainties should be considered, as outlined in the Offering Documents and continuous disclosure filings. The Trust remains committed to providing updates on any developments in accordance with legal requirements.
