Sprott Physical Battery Metals Trust Files Preliminary Prospectus for Proposed Initial Public Offering
Sprott Asset Management LP (“Sprott Asset
”), on behalf of the Sprott Physical Battery
Metals Trust (the “Trust
”), announced that on
September 27, 2022 a preliminary prospectus for the Trust was filed
and receipted by the securities regulatory authorities of all the
Canadian provinces and territories for an initial public offering
”) of transferable, non-redeemable
units (the “Units
”) at a price of US$10.00 per
Unit. The number of Units to be sold has not yet been determined.
The Trust is a closed-end trust established to
invest and hold substantially all of its assets in physical nickel
metal, cobalt metal and lithium carbonate (hereinafter,
collectively “Battery Metals”). The net proceeds
of the Offering will be used to purchase Battery Metals.
The Trust’s investment objectives are to provide
a secure, convenient and exchange-traded investment alternative for
investors interested in holding Battery Metals without the
inconvenience that is typical of a direct investment in Battery
Metals. The Trust does not anticipate making regular cash
distributions to holders of the Units.
RBC Capital Markets and Canaccord Genuity Corp.
are acting as joint lead bookrunners for the Offering, and Cantor
Fitzgerald Canada Corporation is acting as a joint bookrunner for
WMC Energy is acting as technical advisor to
Sprott Asset Management and will arrange all procurement and
handling of the Battery Metals.
About Sprott Asset Management and the
Sprott Asset Management, a subsidiary of Sprott
Inc. (NYSE/TSX: SII), is the investment manager to the Trust.
Sprott Asset Management’s head office is located at Royal Bank
Plaza, South Tower, Suite 2600, 200 Bay Street, Toronto, Ontario,
Canada M5J 2J1
DirectorInvestor and Institutional Client RelationsDirect:
email@example.com A preliminary prospectus
containing important information relating to these securities has
been filed with securities commissions or similar authorities in
each of the provinces and territories of Canada. The prospectus is
still subject to completion or amendment. Copies of the preliminary
prospectus may be obtained from any one of the underwriters noted
above. There will not be any sale or any acceptance of an offer to
buy the securities until a receipt for the final prospectus has
The Units have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), or the securities laws of any
state of the United States, and may not be offered or sold,
directly or indirectly, in the United States (as defined in
Regulation S under the U.S. Securities Act) unless registered under
the U.S. Securities Act and applicable securities laws of any state
of the United States or in reliance on an exemption from such
registration requirements. This news release does not constitute an
offer to sell, or a solicitation of an offer to buy any of the
Trust’s securities referred to herein in the United
This is not an offer to sell these securities
and not a solicitation of an offer to buy these securities in any
state where the offer or sale is not permitted and should be
accompanied by the preliminary prospectus. Investors should
carefully consider the Trust’s investment objectives, risks,
charges and expenses before investing. The preliminary prospectus,
which contains this and other information about the Trust, should
be read carefully before investing.
You could lose some or all of your investment.
For a summary of the risks of an investment in the Trust, please
see the “RISK FACTORS” section of the preliminary
prospectus. Consult your financial advisor before investing.
Securities of the Trust are not redeemable.
This material may contain certain statements
which constitute “forward-looking information”. Forward-looking
information includes, among other things, projections, estimates,
and information about possible or future results related to the
Trust, market, or regulatory developments. The views expressed
herein are not guarantees of future performance or economic results
and involve certain risks, uncertainties, and assumptions that
could cause actual outcomes and results to differ materially from
the views expressed herein. The views expressed herein are subject
to change at any time based upon economic, market, or other
conditions and the Trust undertakes no obligation to update the
views expressed herein.
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