Press Release

Sprott Strategic Fixed Income Fund Announces Intention to Pre-Settle Forward Agreement

TORONTO, July 31, 2015 (GLOBE NEWSWIRE) -- Sprott Asset Management LP (the "Manager") announced today changes to its lineup of funds. The Manager has determined that it is in the best interests of unitholders ("Unitholders") of the Sprott Strategic Fixed Income Fund (TSX: SFI.UN, the "Fund"), to initiate the pre-settlement of the Forward Agreement relating to the Fund. In connection with the pre-settlement, the Manager expects the Fund will be terminated thereafter on or about September 30, 2015 (the "Termination Date") upon the liquidation of the assets of the Fund. The Manager believes that pre-settlement of the Forward Agreement will help to reduce uncertainty for Unitholders prior to the maturity in July 2016, will also compress the discount to the Net Asset Value of the Fund, and can be terminated efficiently and without tax disadvantage to Unitholders, while providing access to two alternatives, as described below.

In connection with the termination of the Fund, the Manager will commence to convert the holdings of the Fund into cash. Upon the pre-settlement of the Forward Agreement with the counterparty, Sprott SFIF Trust will also be terminated. After the liabilities of the Fund have been settled, a Unitholder will receive their proportionate share of the value of the Fund based on the number of units held on the Termination Date (the "Proceeds"). The payment to Unitholders of such Proceeds may occur in one or more tranches as the holdings of the Fund are converted into cash, but in any event the first payment shall be 95% or more of the amount due to the Unitholder. To the extent there are holdings of the Fund which may be more illiquid and require additional time to convert into cash in order to seek the maximum value for such property, the Manager will pay the proportionate Proceeds from such holdings to Unitholders as soon as practicable after disposing of the remaining holdings. Such remaining Proceeds may, at the time of payment, be more or less than the remaining 5% of the amount due to the Unitholder at the time of the initial payment of the Proceeds.

In consideration of the consequential changes to the holdings of a Unitholder of the Fund, the Manager will offer to Unitholders on the Termination Date the opportunity to use their Proceeds to invest in: (i) either of Class A, F, T and FT units of Sprott Diversified Bond Fund with a reduced management fee payable by such classes of units, or (ii) either of Class B and F units of Sprott Credit Income Opportunities Fund with a reduced management fee payable by such classes of units. Each reduction shall be for a period of six months from the date of investment. A copy of the current prospectus of the Sprott Diversified Bond Fund and a copy of the current offering memorandum of the Sprott Credit Income Opportunities Fund may be obtained from a registered investment advisor or at www.sprott.com.

About Sprott Asset Management LP

Sprott Asset Management LP is a leading independent asset management company headquartered in Toronto, Canada. The company manages the Sprott family of mutual funds, hedge funds, physical bullion funds and specialty products and is dedicated to achieving superior returns for its investors over the long term. The company also manages discretionary managed accounts. Please visit us at www.sprott.com to learn more about our investment professionals and their market insights.

For inquiries regarding the Fund, or additional information regarding the opportunity of investing in either the Sprott Credit Income Opportunities Fund or Sprott Diversified Bond Fund, please contact the Sprott Asset Management Sales Department at (416) 943-6707 or (866) 299-9906 or invest@sprott.com.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expects," "intends," "anticipates," "will" and similar expressions to the extent that they relate to the Fund. The forward-looking statements are not historical facts but reflect the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager does not undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

You are now leaving Sprott.com and entering a linked website. Sprott has partnered with ALPS in offering ETF products. For fact sheets, marketing materials, prospectuses, performance, expense information and other details about the ETFs, you will be directed to the ALPS/Sprott website at www.SprottETFs.com

An investor should consider investment objectives, risks, charges and expenses carefully before investing. The prospectuses contain this and other important information. For more information about the ETFs or to obtain a prospectus, call 1.855.215.1425. Read the prospectuses carefully before investing. The ETFs are distributed by ALPS Distributors, Inc. ALPS Advisors, Inc. is the investment adviser to the ETFs and Sprott Asset Management LP is the investment sub-adviser. Sprott is not affiliated with ALPS.

Continue to Sprott Exchange Traded Funds