Sprott claims crown for 'largest manager of uranium investments...

Sprott claims crown for 'largest manager of uranium investments in the world' after transaction

Sprott (NYSE/TSX: SII) said today that its asset management arm has acquired assets from North Shore Global Uranium Mining ETF.

Sprott Asset Management acquired licensing rights from North Shore Indices, Inc. to use the North Shore Global Uranium Mining Index, the performance of which URNM will continue to seek to track.

“Investor interest in uranium and energy-transition related investments continues to increase and the Sprott Uranium Miners ETF (“URNM”) is the perfect complement to the Sprott Physical Uranium Trust (“SPUT”),” said John Ciampaglia, CEO of Sprott Asset Management. “With SPUT and URNM, investors now have two compelling options to invest in the uranium sector.”

“As global governments increasingly turn to nuclear energy to address the dual challenges of achieving energy transition and energy security, we expect demand for uranium to remain strong,” added Mr. Ciampaglia. “Uranium mining is critical to the clean energy transition and URNM provides investors with access to producers, developers, exploration companies as well as vehicles that hold physical uranium.”

Sprot said that the transaction adds approximately $1.1 billion of energy-transition related assets to Sprott’s total Assets Under Management (“AUM”) and establishes Sprott as the largest manager of uranium investments in the world with approximately $4.5 billion in uranium related, energy-transition AUM, as of April 21, 2022.

The Sprott Uranium Miners ETF is listed on NYSE Arca and the ticker symbol of the ETF (URNM) remains the same