- Sprott Physical Gold Trust (PHYS, Financial) is expanding its equity program significantly.
- The Trust plans to issue up to $1 billion in new units across both the U.S. and Canada.
- Funds raised will be used to purchase physical gold bullion, adhering to the Trust's core strategy.
Sprott Physical Gold Trust Expands Equity Program
Sprott Physical Gold Trust (PHYS) is strategically advancing its operations by enhancing its at-the-market equity program. This initiative includes plans to issue up to $1 billion in additional units. The expansion is set to take place in major markets across the U.S. and Canada, signifying the Trust's robust approach to growth and market engagement.
Objective: Acquisition of Physical Gold Bullion
The proceeds from this equity issuance are earmarked explicitly for the acquisition of physical gold bullion. This move is in direct alignment with the Trust's strategic objectives and operational parameters, ensuring that the fund remains true to its foundational goal of backing units with tangible gold assets. By focusing on physical gold, Sprott Physical Gold Trust continues to reinforce its position as a reliable option for investors seeking security in precious metals.
