Press Release

Sprott Announces Changes to its Fund Lineup as a Result of the 2016 Federal Budget

TORONTO, Oct. 21, 2016 (GLOBE NEWSWIRE) -- The 2016 Federal Budget announced a proposal to eliminate the deferral of capital gains tax for investors switching between different classes of shares within a mutual fund corporation. After evaluating the impact of this change to the tax treatment of switches between classes of shares of a mutual fund corporation, Sprott Asset Management ("Sprott") today announced that it has decided to terminate each of Sprott Canadian Equity Class, Sprott Gold and Precious Minerals Class, Sprott Gold Bullion Class and Sprott Silver Bullion Class (the "Terminating Funds") effective on or about December 30, 2016 (the "Termination Date"). Sprott has made this decision based on the size of the Terminating Funds and the fact that there is an existing trust fund version of each Terminating Fund.

Investors may switch their shares of a Terminating Fund into another mutual fund offered by Sprott prior to the Termination Date. To maintain exposure to a similar investment mandate, investors may switch shares of a Terminating Fund to the existing trust fund version noted in the chart below. This switch will be a disposition for tax purposes and capital gains or losses will be realized on the switch.

Terminating Fund   Corresponding Trust Fund
Sprott Canadian Equity Class   Sprott Canadian Equity Fund
Sprott Gold and Precious Minerals Class     Sprott Gold and Precious Minerals Fund
Sprott Gold Bullion Class   Sprott Gold Bullion Fund
Sprott Silver Bullion Class   Sprott Silver Bullion Fund

Investors may also switch shares of a Terminating Fund to another fund that is a class of Sprott Corporate Class Inc. before the Termination Date on a tax-deferred "rollover" basis so that no capital gains or losses will be realized on the termination of the Terminating Fund.

Effective today, Sprott will waive any redemption fees, short-term trading fees and switch fees for redemptions or switches of shares of the Terminating Funds, and each Terminating Fund is closed to all purchases, including purchases made pursuant to pre-authorized chequing plans.

Sprott will send a notice to each investor in the Terminating Funds regarding the termination.

For further information on Sprott Asset Management LP and the Sprott Mutual Funds, please visit www.sprott.com or call us at (866) 299-9906 or email us at invest@sprott.com.

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. Sprott Asset Management LP manages assets primarily for institutions, endowments and high net worth individuals and is the investment manager of the Sprott Mutual 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 the Sprott Mutual Funds may be sold in their jurisdiction.

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.

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