On November 4, 2021, Sprott Inc. (“Sprott”) announced that Sprott Asset Management LP, a wholly-owned subsidiary of Sprott, has entered into a definitive agreement with North Shore Indices, Inc. to acquire an exclusive license to use the North Shore Global Uranium Mining Index, the performance of which the North Shore Global Uranium Mining ETF (“URNM”), a series of Exchange Traded Concepts Trust, seeks to track. It is anticipated, subject to necessary approvals, that URNM will be reorganized into a series of the Sprott Funds Trust. Seward & Kissel is pleased to be representing Sprott in connection with this investment management industry transaction.
With offices in Toronto, New York and London, Sprott is dedicated to providing investors with specialized investment strategies that include Exchange Listed Products, Managed Equities, Lending and Brokerage. The North Shore Global Uranium Mining ETF is made up of a basket of companies that are involved in the mining, exploration, development and production of uranium as well as companies that hold physical uranium, uranium royalties or other non-mining assets.
Seward & Kissel LLP (www.sewkis.com) is a leading New York law firm, originally established in 1890, offering legal advice emphasizing business, financial and commercial law and related litigation. The firm’s Business Transactions Group handles middle-market M&A, private equity, venture capital and joint venture transactions involving a wide variety of industries. The firm is ranked as Highly Regarded for Corporate/M&A by Chambers USA and is recommended by The Legal 500 in the middle-market M&A category, stating that Seward & Kissel “advises on market-leading transactions within the industries where the firm has an international reputation, namely investment management and shipping.”
The company’s press release describing this transaction is available here.
Seward & Kissel Represents Sprott in its Proposed Fund Reorganization with North Shore Global Uranium Mining ETF
November 8, 2021