06:42 AM EDT, 09/10/2024 (MT Newswires) -- Sprott Asset Management LP, a subsidiary of Sprott Inc. ( SII ), on behalf of the Sprott Physical Gold Trust ( PHYS ) , a closed ended mutual fund trust created to invest and hold substantially all of its assets in physical gold bullion, overnight Monday updated its at the market equity program to issue up to US$1 billion of units of the Trust in the United States and Canada.

A statement said distributions under the programs in the United States and Canada will be completed in accordance with the terms of an amended and restated sales agreement dated October 21, 2020, as amended on August 11, 2022 and as further amended on September 9, 2024, between Sprott Asset Management (as the manager of the Trust), the Trust, and agents in both countries.

It added sales of units through the agents will be made through "at the market" issuances on the NYSE Arca and the Toronto Stock Exchange or other existing trading markets in the United States and Canada at the market price prevailing at the time of each sale, and, as a result, sale prices may vary.