07:25 AM EDT, 05/12/2025 (MT Newswires) -- Sprott Inc. ( SII ) , on behalf of the Sprott Physical Uranium Trust , announced Monday that SPUT has completed a US$25.55 million non-brokered private placement of trust units.

According to a statement, the proceeds are expected to be used to cover general operating expenses of the Trust for the next year.

"We launched SPUT with the objective of providing investors with the most liquid and efficient way to invest in physical uranium," said John Ciampaglia, CEO of Sprott Asset Management. "Since the Trust was launched in 2021, it has purchased approximately 48 million pounds...and not sold or loaned out a single pound. I would like to take this opportunity to strongly reiterate that SPUT has the tools, including this private placement, to deliver on its intention not to sell any of the physical uranium that SPUT holds on behalf of thousands of investors."