Sprott Inc. Announces Historical Early Warning Disclosure Filing Relating to Acquisition of Securities of Sprott Resource Holdings Inc.
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 03/24/17 -- Sprott Inc. ("Sprott") (TSX: SII) announces that on February 9, 2017, it acquired direct ownership of an aggregate of 47,931,755 common shares ("Shares") and indirect ownership of 21,750,000 common share purchase warrants (the "Warrants") of Sprott Resource Holdings Inc. ("SRHI").
Sprott acquired 5,013,300 Shares in exchange for 1,671,100 common shares of Sprott Resource Corporation in connection with a plan of arrangement under the Canada Business Corporations Act (the "Arrangement") pursuant to which Sprott Resource Corporation became a wholly-owned subsidiary of SRHI. Sprott also acquired 42,918,455 Shares pursuant to a private placement completed concurrently with the Arrangement at a price per share of $0.233 for an aggregate subscription price of $10,000,000. Sprott Resource Consulting LP, a wholly-owned subsidiary of Sprott received the Warrants in connection with the Arrangement.
Prior to this acquisition, Sprott owned no securities of SRHI. Sprott now owns, directly and indirectly, approximately 9.39% of the issued and outstanding shares of SRHI on a non-diluted basis, and approximately 13.09% on a partially diluted basis assuming exercise of the Warrants.
The Shares and Warrants were acquired for investment purposes. Sprott has a long-term view of the investment and may acquire additional securities of SRHI either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. SRHI''s head office is at Suite 2600, South Tower, Royal Bank Plaza, 200 Bay Street, Toronto, Ontario M5J 2J1.
As a result of inadvertent non-action, a news release and early warning report for the above acquisition were not previously issued or filed. A copy of Sprott''s early warning report will appear on the Corporation''s profile on SEDAR at and may also be obtained by calling Mr. Arthur Einav, General Counsel, at (416) 362-7172.
About Sprott
Sprott is a global alternative asset manager with three primary lines of business: Private Resources Investments; Exchange Listed Products; and Alternative Investment Management. The Private Resource business platform houses the Company''s private resource-focused asset management activities; the Exchange Listed Products business platform houses the Company''s closed-end physical trusts and exchange traded funds; and the Alternative Asset Management business platform houses the Company''s full suite of public mutual funds, alternative investment strategies and managed accounts. Sprott Asset Management LP is the principal subsidiary of Sprott Inc. and the manager of both the Exchange Listed Products business line and the Alternative Investment Management business line. For more information, please visit .
Contacts:
Mr. Arthur Einav
General Counsel
(416) 362-7172
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Datum: 24.03.2017 - 18:19 Uhr
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News-ID 1494688
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