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Sprott Physical Uranium Trust Updates Its "At-the-Market" Equity Program

TORONTO, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Sprott Asset Management LP ("Sprott Asset Management"), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Uranium Trust (TSX:U) (TSX:U) (the "Trust"), a non-redeemable investment fund created to invest and hold substantially all of its assets in physical uranium, today announced that it has updated its at-the-market equity program to issue up to U.S.$1.0 billion of units of the Trust ("Units") in Canada.

Distributions under the at-the-market equity program in Canada (the "ATM Program") will be completed in accordance with the terms of an amended and restated sales agreement dated December 6, 2024 (the "Sales Agreement") between Sprott Asset Management (as the manager of the Trust), the Trust, Cantor Fitzgerald Canada Corporation ("Cantor"), Virtu Canada Corp. ("Virtu"), BMO Nesbitt Burns Inc. ("BMO") and Canaccord Genuity Corp. ("Canaccord" and, together with Cantor, Virtu and BMO, the "Agents"). The Sales Agreement is available at the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca.

Sales of Units through the Agents, acting as agent, will be made through "at-the-market" issuances on the Toronto Stock Exchange ("TSX") or other existing trading markets in Canada at-the-market price prevailing at the time of each sale, and, as a result, sale prices may vary. The Agents may only sell Units on marketplaces in Canada.

The volume and timing of distributions under the ATM Program, if any, will be determined in the Trust's sole discretion. The Trust intends to use the proceeds from the ATM Program, if any, to acquire physical uranium in ...