06:31 AM EST, 12/09/2024 (MT Newswires) -- Sprott subsidiary Sprott Asset Management, on behalf of the Sprott Physical Gold Trust ( PHYS ) , over the weekend said it has added sales agents to its at-the-market equity program to issue up to US$1 billion of the trust's units in Canada.

Distributions under the ATM program will now be completed under the terms of an amended and restated sales agreement between Sprott Asset Management, the trust, Cantor Fitzgerald Canada, Virtu Canada, BMO Capital Markets and Canaccord Genuity.

Sales through the agents will be made through at-the-market issuances on the TSX or other existing trading markets in Canada at the prevailing market price at the time of sale.

The trust will use the proceeds from the ATM program to acquire physical uranium. Sprott Physical Gold Trust ( PHYS ) is a closed ended mutual fund trust created to invest and hold substantially all of its assets in physical gold bullion.