Sprott Inc. (TSX: SII) a global leader in precious metal and real asset investments, announced today that it has successfully completed its previously announced acquisition of the common shares of Central Fund of Canada Limited and the right to administer and manage CFCL’s assets, and that CFCL’s class A shareholders are now unitholders of the newly-created Sprott Physical Gold and Silver Trust. The new Trust will begin trading today on the NYSE Arca under the symbol “CEF” and on the Toronto Stock Exchange under the symbol “CEF.U”.
“This transaction reinforces Sprott’s position as a global leader in precious metals investing and enhances our gold and silver exposure amid growing investor interest in the sector,” said Peter Grosskopf, CEO of Sprott. “The acquisition doubles the size our exchange-listed products franchise, drives significant revenue growth from that business and increases our total AUM to more than C$11.5 billion.”
The Trust is a unique vehicle that provides investors the ability to own both physical gold and physical silver bullion. Storage for the Trust will be provided by the Royal Canadian Mint.
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, the Company is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Alternative Asset Management and Private Resource Investments. The Company also operates Merchant Banking and Brokerage businesses in both Canada and the US. Sprott is based in Toronto with offices in Connecticut, Carlsbad, London and Vancouver.
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