TORONTO, Feb. 25 /CNW/ - Eric Sprott, President and Chief Executive Officer of Sprott Inc. ("Sprott") and Chairman, President and Chief Executive Officer of Sprott Asset Management LP announced that he has contracted to purchase 8,000,000 units of the Sprott Physical Gold Trust (the "Trust") under the Trust's initial public offering. The Units acquired by Mr. Sprott will represent 20% of the outstanding Units upon closing of the offering.
The Units are being acquired, without any joint actors, for investment purposes and Mr. Sprott may increase or decrease his investment in the Trust depending on market conditions or any other relevant factors.
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