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

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Not for distribution to U.S. newswire 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 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 (the “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.

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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 (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 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 the Battery Metals.

About Sprott Asset Management and the Trust

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

Contact:
Glen Williams
Managing Director
Investor and Institutional Client Relations
Direct: 416-943-4394
[email protected]

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 been issued.

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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 States.

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.

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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, 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.