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Sprott Asset Management Enters Into Agreement With Uranium Participation Corporation to Form .
Sprott Inc.April 28, 2021 GMT
TORONTO, April 28, 2021 (GLOBE NEWSWIRE) Sprott Inc. (“Sprott”) (NYSE/TSX: SII) announced today that Sprott Asset Management LP (“Sprott Asset Management”), a wholly-owned subsidiary of Sprott has entered into a definitive agreement with Uranium Participation Corporation (“UPC”) (TSX: U) pursuant to which UPC shareholders will become unitholders of the Sprott Physical Uranium Trust (the “Trust”), a newly-formed entity managed by Sprott Asset Management.
UPC is the world’s largest publicly traded investment vehicle providing investors an opportunity to gain exposure to the price of uranium, outside of a traditional mining company, through holdings of physical uranium in the form of uranium oxide in concentrates (“U3O8”) and uranium hexafluo
TSX Trading symbol: U TORONTO, April 28, 2021/CNW/ - Uranium Participation Corporation ( UPC or the Corporation ) (TSX:U) is pleased to announce that it has entered into an arrangement agreement (the Arrangement Agreement ) with Sprott Asset Management LP ( Sprott Asset Management ), a wholly owned subsidiary of Sprott Inc. ( Sprott ) (NYSE/TSX: SII), pursuant to which UPC shareholders will become unitholders of the Sprott Physical Uranium Trust (the Trust ), a newly formed entity to be managed by Sprott Asset Management (the Transaction ). View PDF version
Transaction Highlights
Modernized business structure with lower corporate operating costs - The trust structure offers lower annual corporate costs and aligns UPC s business with the world s leading physical commodity investment vehicles.
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TORONTO, April 28, 2021 /PRNewswire/ -
Denison Mines Corp. ( Denison or the Company ) (TSX: DML) (NYSE American: DNN) congratulates Uranium Participation Corp. ( UPC ) (TSX: U) and Sprott Asset Management LP ( Sprott ) on having reached an agreement to convert UPC into the Sprott Physical Uranium Trust (the Trust ) – effectively aligning UPC s business with the world s leading physical commodity investment vehicles and making it eligible to pursue a listing in the United States (the Transaction ). Upon completion of the Transaction, Sprott will become the manager of the Trust and the Management Services Agreement ( MSA ) between Denison Mines Inc. (the Manager , a wholly owned subsidiary of Denison) and UPC will be terminated. View PDF version
Denison to Receive Approximately $5.3 Million in Connection with Termination of UPC Management Services Agreement prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.