This press release constitutes a &#34;designated news release&#34; for the purposes of the Sprott Physical Copper Trust&#39;s prospectus supplement dated July 8, 2024 to its base shelf prospectus dated July 3, 2024.  TORONTO, April 

Sprott Physical Copper Trust Announces Preliminary Proxy Results for Unitholder Meeting and Anticipated Listing Date on the NYSE Arca

Sprott Inc. plans Mutual Fund restructuring for Copper Trust

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>This press release constitutes a &amp;#34;designated news release&amp;#34; for the purposes of the Sprott Physical Copper Trust&amp;#39;s prospectus supplement dated July 8, 2024 to its base shelf prospectus dated July 3, 2024.  TORONTO, April</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Sprott Inc. is restructuring the Sprott Physical Copper Trust into a mutual fund, pending unitholder approval on April 30, 2026. This move aims to enable trading on NYSE Arca under a new symbol, potentially increasing liquidity and attracting investor interest in physical copper assets.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Sprott Inc. to restructure the Sprott Physical Copper Trust.</li><li>Units expected to trade on NYSE Arca under symbol &#039;SCOP&#039; after restructuring.</li><li>Unitholder approval required at Meeting on April 30, 2026.</li><li>Trust focuses on investing in physical copper metal assets.</li><li>Upcoming changes may enhance trust liquidity and investor interest.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Sprott Inc. (SII)</strong>: Parent company of the Sprott Physical Copper Trust, poised for liquidity boost.</li><li><strong>Sprott Physical Copper Trust (COP)</strong>: Transforming into a mutual fund may enhance its market appeal.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This falls under &#039;Corporate Developments&#039; as it involves significant structural changes within Sprott&#039;s investment vehicle. The restructuring aims to align with investor preferences and enhance market positioning.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Approval at the upcoming Meeting could significantly raise trading volume.</li><li>Listing of SCOP on NYSE Arca may attract new institutional investors.</li><li>Market dynamics in copper could influence trust&#039;s asset valuation.</li><li>Pending proxies suggest strong unitholder support for the restructuring.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Meeting scheduled for April 30, 2026, to vote on restructuring.</li><li>Units expected to start trading as SCOP on May 4, 2026.</li><li>Sprott specializes in precious metals and critical materials.</li><li>Trust’s assets primarily consist of physical copper metal.</li><li>Sprott Inc. is listed on NYSE/TSX under the symbol SII.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Buy SII anticipating increased interest and stock price following Mutual Fund restructuring.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify"><em>This press release constitutes a "designated news release" for the purposes of the Sprott Physical Copper Trust's prospectus supplement dated July 8, 2024 to its base shelf prospectus dated July 3, 2024.</em></p>  <p align="justify">TORONTO, April  28, 2026  (GLOBE NEWSWIRE) -- Sprott Asset Management LP ("Sprott Asset Management"), a wholly-owned subsidiary of Sprott Inc. ("Sprott") (NYSE/TSX:<a class="ticker" href="https://www.benzinga.com/quote/SII">SII</a>), on behalf of the Sprott Physical Copper Trust (TSX:<a class="ticker" href="https://www.benzinga.com/quote/COP">COP</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/quote/COP">COP</a>) (the "Trust" or "COP"), a closed-end trust created to invest and hold substantially all of its assets in physical copper metal, today announced that, based on proxies received by the Trust prior to the proxy submission deadline earlier today, holders ("Unitholders") of the units of the Trust ("Units") are expected to approve the restructuring of the Trust from a non-redeemable investment fund to a mutual fund for the purposes of applicable Canadian securities laws (the "Mutual Fund Restructuring") at the special meeting of Unitholders (the "Meeting") scheduled to be held at 9:00 a.m. (Toronto time) on April 30, 2026 and that the Units are expected to begin trading on the NYSE Arca under the symbol "SCOP" on or about May 4, 2026.</p>  <p align="justify">Unitholder approval of the Mutual Fund Restructuring remains subject to the vote to be conducted at the Meeting and the listing of the Units on the NYSE remains subject to obtaining Unitholder approval at the Meeting and the filing and effectiveness of a registration statement filed under the U.S. Securities Exchange Act of 1934 in respect of the listing of the Units on the NYSE Arca (the "Registration Statement").</p>  <p align="justify"><strong>About Sprott</strong><br></br>Sprott is a global asset manager focused on precious metals and critical materials. At Sprott, we are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and Sprott's common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "SII". For more information, please visit <a href="https://www.globenewswire.com/Tracker?data=xe7w7miNqzesl51a1na6jd-8x58A-BmcQ6ZzmFeRI13L0pTW7MQaAZbyM8uGTYUGixItaZ4T8sPLskLFqY4I9Q==" rel="nofollow" target="_blank">www.sprott.com</a>. Sprott Asset Management is a wholly-owned subsidiary of Sprott and is the investment manager to the Trust.</p>  <p align="justify"><strong>About the Trust</strong><br></br>Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the current annual information form for the Trust and the Trust's prospectus. Please read these documents carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trust on a stock exchange. If the units are purchased or sold on a stock exchange, investors may pay more than the current net asset value when buying units or shares of the Trust and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.</p>  <p align="justify"><strong>Forward-Looking Statements</strong><br></br>This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). Forward-looking statements in this press release include, without limitation, statements regarding the listing of the Units on NYSE Arca, the filing and effectiveness of the Registration Statement, and the expected approval of the Mutual Fund Restructuring by Unitholders at the Meeting. With respect to the forward-looking statements contained in this press release, the Trust has made numerous assumptions regarding, among other things: subsequent U.S. listing of the Units, ability to obtain unitholder approval for amendments to COP's redemption feature, as well as dynamics in the copper market. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors and uncertainties that could cause the Trust&#39;s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. A discussion of certain risks and uncertainties facing the Trust appears in the Trust's Annual Information Form for the year ended December 31, 2025, and its prospectus supplement dated July 8, 2024 and related short-form base shelf prospectus dated July 3, 2024, as updated by the Trust&#39;s continuous disclosure filings, which are available at <a href="https://www.globenewswire.com/Tracker?data=xe7w7miNqzesl51a1na6jQZJY_G3BTzY5bYjgFtZkA5E3tLpWn2UjtHyUkOqHW_y0Q1pUo46vfcDZDCKoanGSlMOQls_UjzTnu6-omV6PWk=" rel="nofollow" target="_blank">www.sedarplus.ca</a>. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.</p>  <p align="justify"><strong>Contact:</strong><br></br>Glen Williams<br></br>Senior Managing Partner<br></br>Investor and Institutional Client Relations<br></br>Direct: 416-943-4394<br></br>gwilliams@sprott.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcwODc4NiM3NTcxMDY0IzIwMjgyNjk="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/YzU2NTVmZTctYWY1Yi00YmUyLWIwZDMtZjAwMjU5MjM0YjYwLTEwMzg2NzItMjAyNi0wNC0yOC1lbg==/tiny/Sprott-Asset-Management.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/f7ba74cd-76b3-4c7d-8cc0-cb702c49d63d"><img src="https://ml.globenewswire.com/media/f7ba74cd-76b3-4c7d-8cc0-cb702c49d63d/small/sam-png.png" border="0" width="150" height="30" alt="Primary Logo"></img></a></p>

Sprott Inc. is restructuring the Sprott Physical Copper Trust into a mutual fund, pending unitholder approval on April 30, 2026. This move aims to enable trading on NYSE Arca under a new symbol, potentially increasing liquidity and attracting investor interest in physical copper assets.

Sprott Physical Copper Trust Announces Preliminary Proxy Results for Unitholder Meeting and Anticipated Listing Date on the NYSE Arca

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News