Sprott Physical Platinum and Palladium Trust Announces IPO of 28,000,000 Trust Units

Sprott Asset Management today announced that Sprott Physical Platinum and Palladium Trust, a trust created to invest and hold substantially all of its assets in physical platinum and palladium bullion and managed by Sprott, has agreed to issue in its IPO of 28,000,000 transferable, redeemable units of the Trust at $10.00 per Unit, for gross proceeds of US$280,000,000. As part of the Offering, the Trust has granted the underwriters an over-allotment option which is exercisable in whole or in part to purchase up to an additional 4,200,000 Units at US$10.00 per Unit.