Sprott Announces Renewal of Normal Course Issuer Bid

Rhea-AI Summary

Sprott (NYSE/TSX: SII) announced TSX approval to renew a normal course issuer bid (NCIB) to repurchase up to 1,289,312 common shares (≈5.0% of 25,786,258 outstanding) from March 11, 2026 through March 10, 2027.

The ADTV on TSX was 84,018, limiting same-day TSX purchases to 21,004 shares (25% ADTV). An automatic share purchase plan (ASPP) is in place to permit purchases during trading black-outs. Prior NCIB (Mar 11, 2025–Mar 10, 2026) bought 11,691 shares on TSX (C$60.45 avg) and 15,386 on NYSE (US$64.97 avg).

Positive

• NCIB authorizes repurchase of 1,289,312 shares (5.0%) of outstanding stock
• ASPP enables share purchases during trading black-outs to maintain repurchase flexibility
• Ability to repurchase across TSX, Canadian ATS, NYSE and U.S. ATS increases execution venues

Negative

• Company did not use full prior NCIB, indicating limited repurchase activity under market conditions
• TSX same-day cap of 21,004 shares (25% ADTV) may slow repurchase pace

Key Figures

NCIB maximum shares: 1,289,312 shares Shares outstanding: 25,786,258 shares TSX ADTV: 84,018 shares +5 more

8 metrics

NCIB maximum shares 1,289,312 shares Up to 5.0% of 25,786,258 outstanding as of Feb 28, 2026

Shares outstanding 25,786,258 shares Issued and outstanding as of Feb 28, 2026

TSX ADTV 84,018 shares Average daily trading volume over six months ended Feb 28, 2026

Daily TSX repurchase limit 21,004 shares 25% of ADTV under TSX rules, excluding block purchases

Prior NCIB maximum 645,333 shares Repurchase limit under NCIB commencing Mar 11, 2025

TSX repurchases 11,691 shares Bought on TSX/Canadian systems at C$60.45, total C$706,720.95

NYSE repurchases 15,386 shares Bought on NYSE/U.S. systems at US$64.97, total US$999,628.42

NCIB term Mar 11, 2026–Mar 10, 2027 Planned duration of renewed issuer bid

Market Reality Check

Price: $159.63 Vol: Volume 224,200 is slightl...

normal vol

$159.63 Last Close

Volume Volume 224,200 is slightly below the 20-day average of 248,737, suggesting no outsized pre-news positioning. normal

Technical Shares at 159.63 are trading above the 200-day MA of 87.32, keeping the stock in a strong longer-term uptrend despite a -3.57% daily move.

Peers on Argus

While SII fell 3.57%, key asset-management peers also showed declines (e.g., AAM...

While SII fell 3.57%, key asset-management peers also showed declines (e.g., AAMI -1.15%, RVT -2.05%). However, no peers appeared in the momentum scanner, so the move screens as stock-specific rather than a confirmed sector-wide rotation.

Historical Context

5 past events · Latest: Feb 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 19	Year-end results	Positive	+5.5%	Strong 2025 results with higher AUM, fees, net income and EBITDA.
Feb 18	Dividend declaration	Positive	+2.1%	Declared Q4 2025 dividend of US$0.40 per common share.
Feb 13	Earnings webcast date	Neutral	+4.2%	Announced timing and webcast details for Q4 2025 results.
Jan 29	Copper trust listing	Positive	-6.0%	SEC approval for NYSE Arca listing of Sprott Physical Copper Trust.
Jan 28	ETF AUM milestone	Positive	+5.6%	Silver Miners & Physical Silver ETF surpassed $1B in assets.

Pattern Detected

Recent company news, especially strong financial results and product milestones, often coincided with positive price reactions, with only one notable divergence on a trust listing update.

Recent Company History

Over the last few months, Sprott has reported robust growth, with AUM reaching $59.6B and net income of $67.3M for 2025, plus a quarterly dividend of $0.40 per share. Operational updates such as the Silver ETF surpassing $1B in assets and new listing plans for the Physical Copper Trust show product expansion. These events mostly aligned with positive share reactions, providing a constructive backdrop to the newly announced normal course issuer bid.

Market Pulse Summary

This announcement details a renewed normal course issuer bid allowing Sprott to repurchase up to 1,2...

Analysis

This announcement details a renewed normal course issuer bid allowing Sprott to repurchase up to 1,289,312 shares, roughly 5.0% of its 25,786,258 outstanding shares, along with an automatic share purchase plan to operate through blackout periods. In the context of strong recent financial results and product growth, the NCIB reinforces capital-return flexibility. Investors may watch the actual pace of repurchases versus the authorized maximum and how it interacts with trading liquidity and future corporate updates.

Key Terms

normal course issuer bid, automatic share purchase plan, block purchase, trading black-out periods, +1 more

5 terms

normal course issuer bid financial

"announced that the Toronto Stock Exchange ... has approved the Company’s notice of intention to make a normal course issuer bid"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

automatic share purchase plan financial

"The Company has also entered into an automatic share purchase plan (the “ASPP”) with its designated broker"

An automatic share purchase plan is a pre-arranged agreement that allows investors to buy a set amount of a company's shares at regular intervals without needing to make individual decisions each time. It helps investors steadily build their holdings over time, much like setting a recurring deposit into a savings account, making investing more disciplined and less influenced by short-term market fluctuations.

block purchase regulatory

"up to 25% of the ADTV ... except where such purchases are made in accordance with the “block purchase” exemption"

A block purchase is when a large quantity of a stock or asset is bought or sold all at once, rather than through many smaller trades. This kind of transaction can signal significant interest or intent from investors, often influencing the market’s perception of value or stability. It matters to investors because it can indicate potential changes in supply, demand, or market trends.

trading black-out periods regulatory

"when Sprott normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods"

A trading black-out period is a temporary window when company insiders and certain employees are prohibited from buying or selling the firm’s securities, typically around earnings releases, major deals or other sensitive events. Think of it like a hallway closed during a private meeting: it helps prevent people with advance knowledge from trading unfairly, and matters to outside investors because it can affect share liquidity, the timing of trades and market transparency around important news.

automatic securities purchase plan regulatory

"The ASPP will be effective concurrently with the NCIB and constitutes an “automatic securities purchase plan” under applicable Canadian securities laws"

A plan a company sets up to buy its own shares automatically according to preset rules — for example, when the stock hits certain prices or at regular intervals — without managers deciding each trade. For investors this matters because automatic buybacks can reduce the number of shares outstanding, often supporting the stock price and boosting per-share metrics, much like a steady repurchasing habit gradually shrinking the size of a shared pie.

AI-generated analysis. Not financial advice.

TORONTO, March 06, 2026 (GLOBE NEWSWIRE) -- Sprott Inc. (“Sprott” or the “Company”) (NYSE/TSX: SII) today announced that the Toronto Stock Exchange (“TSX”) has approved the Company’s notice of intention to make a normal course issuer bid ("NCIB"). Pursuant to the terms of the NCIB, Sprott may purchase its own common shares for cancellation through the facilities of the TSX, Canadian alternate trading systems, the New York Stock Exchange and/or U.S. alternate trading systems, in each case in accordance with the applicable requirements, and as otherwise permitted under applicable securities laws. The maximum number of common shares which may be purchased by Sprott during the NCIB will not exceed 1,289,312 common shares being approximately 5.0% of 25,786,258 (representing the number of issued and outstanding common shares as of February 28, 2026). The average daily trading volume (the “ADTV”) of the common shares on the TSX for the six-month period ended February 28, 2026 was 84,018. Under the rules of the TSX, Sprott is entitled to repurchase during the same trading day on the TSX up to 25% of the ADTV of the common shares, being 21,004 common shares, except where such purchases are made in accordance with the “block purchase” exemption under applicable TSX policy. Sprott will effect purchases at varying times commencing on March 11, 2026 and ending on March 10, 2027.

In addition to providing shareholders liquidity, Sprott believes that the NCIB represents an attractive investment and manner in which to return capital to shareholders.

Under its current NCIB that commenced on March 11, 2025 and will terminate March 10, 2026, Sprott previously sought and received approval from the TSX to repurchase up to 645,333 common shares. Pursuant to its current NCIB, Sprott has purchased an aggregate of common shares through the facilities of the TSX, alternative Canadian trading systems, the NYSE and alternative U.S. trading systems. 11,691 common shares were purchased on the TSX or alternative Canadian trading systems at a weighted-average price of C$60.45 per common share, for total cash consideration of C$706,720.95, and 15,386 common shares were purchased on the NYSE or alternative U.S. trading systems at a weighted-average price of US$64.97 per common share, for total cash consideration of US$999,628.42. Sprott did not repurchase the maximum allowance under the current NCIB due to a combination of market-related factors.

The Company has also entered into an automatic share purchase plan (the “ASPP”) with its designated broker in connection with the NCIB. The ASPP allows for the purchase of common shares under the NCIB at times when Sprott normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods. Before the commencement of any particular internal trading black-out period, Sprott may, but is not required to, instruct its designated broker to make purchases of the common shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by the Company prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, common shares will be purchasable by Sprott at its discretion under its NCIB. The ASPP will be effective concurrently with the NCIB and constitutes an “automatic securities purchase plan” under applicable Canadian securities laws.

About Sprott

Sprott is a global asset manager focused on precious metals and critical materials investments. 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 the company’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 www.sprott.com.

Forward-Looking Statements

Certain statements in this press release contain forward-looking information and forward-looking statements (collectively referred to herein as the “Forward-Looking Statements”) within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the forgoing, this press release contains Forward-Looking Statements pertaining to methods and quantity of any purchases by the Company of its common shares under the NCIB.

Although the Company believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: (i) the impact of increasing competition in each business in which the Company operates will not be material; (ii) quality management will be available; (iii) the effects of regulation and tax laws of governmental agencies will be consistent with the current environment; (iv) the impact of public health outbreaks; and (v) those assumptions disclosed under the heading “Critical Accounting Estimates and Significant Judgments” in the Company’s MD&A for the years ended December 31, 2025 and 2024. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) difficult market conditions; (ii) poor investment performance; (iii) failure to continue to retain and attract quality staff; (iv) employee errors or misconduct resulting in regulatory sanctions or reputational harm; (v) performance fee fluctuations; (vi) a business segment or another counterparty failing to pay its financial obligation; (vii) failure of the Company to meet its demand for cash or fund obligations as they come due; (viii) changes in the investment management industry; (ix) failure to implement effective information security policies, procedures and capabilities; (x) lack of investment opportunities; (xi) risks related to regulatory compliance; (xii) failure to manage risks appropriately; (xiii) failure to deal appropriately with conflicts of interest; (xiv) competitive pressures; (xv) corporate growth which may be difficult to sustain and may place significant demands on existing administrative, operational and financial resources; (xvi) failure to comply with privacy laws; (xvii) failure to successfully implement succession planning; (xviii) foreign exchange risk relating to the relative value of the U.S. dollar; (xix) litigation risk; (xx) failure to develop effective business resiliency plans; (xxi) failure to obtain or maintain sufficient insurance coverage on favorable economic terms; (xxii) historical financial information being not necessarily indicative of future performance; (xxiii) fluctuations of the market price of common shares of the Company; (xxiv) risks relating to the Company’s investment products; (xxv) risks relating to the Company's proprietary investments; (xxvi) risks relating to the Company's private strategies business; (xxvii) those risks described under the heading “Risk Factors” in the Company’s annual information form dated February 18, 2026; and (xxviii) those risks described under the headings “Managing Financial Risks” and “Managing Non-Financial Risks” in the Company’s MD&A for the years ended December 31, 2025 and 2024. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and the Company does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Investor contact information:

Glen Williams
Managing Partner
Investor and Institutional Client Relations
(416) 943-4394
gwilliams@sprott.com

FAQ

What size NCIB did Sprott (SII) announce on March 6, 2026?

Sprott announced an NCIB to buy up to 1,289,312 common shares (about 5.0% of shares outstanding). According to the company, the program runs from March 11, 2026 through March 10, 2027 and covers multiple trading venues.

How will the Sprott (SII) buyback be executed across exchanges?

Sprott will repurchase shares on the TSX, Canadian alternate trading systems, the NYSE and U.S. alternate trading systems. According to the company, purchases will follow applicable rules and may use an ASPP during black-out periods.

What daily trading limits affect Sprott (SII) repurchases under the NCIB?

On the TSX, Sprott may repurchase up to 25% of ADTV, equal to 21,004 shares per trading day. According to the company, the ADTV used was 84,018 for the six months ended February 28, 2026.

What is the role of the ASPP in Sprott's (SII) NCIB?

The ASPP allows automatic purchases during trading black-outs when Sprott would otherwise be inactive. According to the company, the broker will execute purchases under pre-set parameters in accordance with applicable rules.

How much did Sprott (SII) repurchase under its prior NCIB that ends March 10, 2026?

Under the prior NCIB, Sprott purchased 11,691 shares on Canadian venues (C$60.45 avg) and 15,386 shares on U.S. venues (US$64.97 avg). According to the company, it did not repurchase the full approved allowance due to market factors.