TORONTO, Dec. 06, 2022 (GLOBE NEWSWIRE) — Sprott Asset Management LP today announced a forward share split on its Sprott Uranium Miners ETF (URNM).
URNM Forward-Share Split
|Ticker||Sprott ETF||Split Ratio|
|URNM||Sprott Uranium Miners ETF||2:1|
The forward split will apply to shareholders of record as of market close on December 19, 2022, payable after market close on December 20, 2022. The forward split will be effective prior to market open on December 21, 2022, when the fund will begin trading at its post-split price. The ticker symbol and CUSIP number for the fund will not change.
The forward split will result in the receipt of two post-split shares, which will be priced at one-half the net asset value (“NAV”) of a pre-split share.
Illustration of a Forward Split
The following table shows the effect of a hypothetical two-for-one forward split:
|Period||# of Shares Owned||Hypothetical NAV||Value of Shares|
About Sprott Asset Management
Sprott Asset Management LP is a wholly-owned subsidiary of Sprott Inc. (“Sprott”). Sprott is a global leader in precious metal and energy transition investments. We are specialists. Our in-depth knowledge, experience, and, relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities, Private Strategies, and Brokerage. Sprott has offices in Toronto, New York, and London, and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.
This information shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a Sprott Uranium Miners ETF Statutory Prospectus, which contains this and other information, visit https://sprottetfs.com/urnm/prospectus, contact your financial professional or call 1.888.622.1813. Read the Prospectus carefully before investing.
The Fund is not suitable for all investors. There are risks involved with investing in ETFs including the loss of money. The Fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. The Fund’s investments will be concentrated in the uranium industry. As a result, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the uranium industry. Also, uranium companies may be significantly subject to the effects of competitive pressures in the uranium business and the price of uranium. The price of uranium may be affected by changes in inflation rates, interest rates, monetary policy, economic conditions and political stability. The price of uranium may fluctuate substantially over short periods of time, therefore the Fund’s share price may be more volatile than other types of investments. In addition, they may also be significantly affected by import controls, worldwide competition, liability for environmental damage, depletion of resources, mandated expenditures for safety and pollution control devices, political and economic conditions in uranium producing and consuming countries, and uranium production levels and costs of production. Demand for nuclear energy may face considerable risk as a result of, among other risks, incidents and accidents, breaches of security, ill-intentioned acts of terrorism, air crashes, natural disasters, equipment malfunctions or mishandling in storage, handling, transportation, treatment or conditioning of substances and nuclear materials.
Shares are not individually redeemable. Investors buy and sell shares of the Sprott Uranium Miners ETF on a secondary market. Only market makers or “authorized participants” may trade directly with the Fund, typically in blocks of 50,000 shares.
Funds that emphasize investments in small/mid-capitalization companies will generally experience greater price volatility. Funds investing in foreign and emerging markets will also generally experience greater price volatility. Diversification does not eliminate the risk of experiencing investment losses. ETFs are considered to have continuous liquidity because they allow for an individual to trade throughout the…
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