Sprott Physical Battery Metals Trust Files Preliminary Prospectus for Proposed Initial Public Offering

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Not for distribution to US news services or for dissemination in the United States.

TORONTO, Sept. 27, 2022 (GLOBE NEWSWIRE) — Sprott Asset Management LP (“Sprott Asset Management”), on behalf of the Sprott Physical Battery Metals Trust (the “trust”), announced that on September 27, 2022, the securities regulatory authorities of all Canadian provinces and territories filed and received a preliminary prospectus from the Trust for an initial public offering (the “offer”) of transferable and 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.

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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 (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 safe, convenient, exchange-traded investment alternative for investors interested in owning Battery Metals without the typical drawbacks of a direct investment in Battery Metals. The Trust does not anticipate making regular cash distributions to Unitholders.

RBC Capital Markets and Canaccord Genuity Corp. are acting as joint lead bookrunners for the offering, and Cantor Fitzgerald Canada Corporation is acting as joint lead bookrunners for the offering.

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WMC Energy is acting as technical advisor to Sprott Asset Management and will arrange all procurement and handling of battery metals.

About Sprott Asset Management and the Trust

Sprott Asset Management, a subsidiary of Sprott Inc. (NYSE/TSX: SII), is the Trust’s investment manager. Sprott Asset Management’s head office is located at Royal Bank Plaza, South Tower, Suite 2600, 200 Bay Street, Toronto, Ontario, Canada M5J 2J1

Glenn Williams
Managing Director
Relations with investors and institutional clients
Direct: 416-943-4394

A preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. The brochure is still subject to completion or modification. Copies of the preliminary prospectus may be obtained from any of the underwriters listed above. There will be no sale or acceptance of an offer to purchase the securities until the final prospectus receipt has been issued.

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The Units have not been and will not be registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or the securities laws of any US state United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S of the US Securities Act) unless registered under the US Securities Act and applicable securities laws of any state in the United States or pursuant to an exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Trust referred to herein in the United States.

This is not an offer to sell these securities or 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.

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You could lose some or all of your investment. For a summary of the risks of an investment in the Trust, see the “RISK FACTORS” section of the preliminary prospectus. Consult your financial advisor before investing. The securities of the Trust are not redeemable.

This material may contain certain statements that constitute “forward-looking information.” Forward-looking information includes, among other things, projections, estimates and information about possible or future results related to trust, market or regulatory developments. The opinions expressed herein are not guarantees of future performance or financial results and involve certain risks, uncertainties and assumptions that could cause actual results and outcomes to differ materially from the opinions expressed herein. The opinions expressed herein are subject to change at any time based on economic, market or other conditions and the Trust undertakes no obligation to update the opinions expressed herein.



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