Sprott Inc., a global leader in precious metal and real asset investments, has entered into an agreement with Central Fund of Canada Limited, CFCL’s administrator and the controlling shareholders of CFCL and the administrator, to acquire the common shares of CFCL and the right to administer and manage CFCL’s assets, and move CFCL’s class A shareholders to a new Sprott-managed trust.
“This transaction reinforces Sprott’s global leadership in precious metals, doubling our physical bullion holdings to more than C$8.5 billion [$6.8 billion] and building our total assets under management to approximately C$11.5 billion [$9.2 billion],” said Peter Grosskopf, CEO of Sprott. “Importantly, it demonstrates how we're executing on our strategy of increasing our precious metals and real assets exposure to meet growing investor interest in the sector.”
Under the agreement, CFCL’s class A shares will, effectively, be exchanged for units of a newly established trust
