TORONTO, Feb. 22, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") is
pleased to provide investors with an update on the status of the silver
bullion purchased by the Sprott Physical Silver Trust (NYSE ARCA: PSLV)
(TSX: PHS.U) ("Trust") through the follow-on offering of Trust Units
that was completed on January 23, 2012.
The Trust has now successfully received physical delivery of the silver
bars purchased through the follow-on offering. The Trust's silver
holdings now total approximately 32,878,296 silver ounces in bullion
bar form. The silver bars are currently being processed into inventory
by the custodian of the Trust. Once the inventory process has been
completed, a list of all bars held by the Trust will be published on
its website: www.sprottphysicalsilver.com.
Additional detail on the Trust can be found in the final prospectus
available on EDGAR (http://www.sec.gov/) and SEDAR (www.sedar.com) or on the Trust's website at www.sprottphysicalsilver.com.
About Sprott Asset Management LP
Sprott Asset Management LP (www.sprott.com), a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com) is a fund company dedicated to achieving superior returns for its
investors over time. SAM manages assets primarily for institutions,
endowments and high net worth individuals. Sprott Asset Management LP
is the investment manager of the Sprott Funds. Commissions, trailing
commissions, management fees and expenses all may be associated with
mutual fund investments. Please read the prospectus before investing.
Mutual Funds are not guaranteed, their values change frequently and
past performance may not be repeated. The information contained herein
does not constitute an offer or solicitation by anyone in the United
States or in any other jurisdiction in which such an offer or
solicitation is not authorized or to any person to whom it is unlawful
to make such an offer or solicitation. Prospective investors should
consult their financial advisor to determine if these Funds may be sold
in their jurisdiction.
SOURCE Sprott Physical Silver Trust
For further information:
Investor contact information:
Telephone: (416) 203-2310
Toll Free: 1 (877) 403-2310