TORONTO, June 26, 2013 /CNW/ - Sprott Resource Lending
Corp. (the "Company" or "Sprott Resource Lending") (TSX:SIL) (NYSE
MKT:SILU) announced today that its annual and special meeting of
shareholders (the "Meeting"), originally scheduled for June 25, 2013, has been rescheduled to
10:00 a.m. (Toronto time) on Thursday, July 18, 2013 at the TSX Gallery, TMX
Broadcast Centre, The Exchange Tower, 130 King Street West,
Toronto, Ontario for the same
purposes as set out in the notice of annual and special meeting of
shareholders and management information circular of the Company
dated May 24, 2013, including the
proposed plan of arrangement between Sprott Inc. ("Sprott") and the
Company (the "Arrangement").
The Company has been granted an order by the
Ontario Superior Court of Justice, which is the court supervising
the Arrangement, and has received approval of the Toronto Stock
Exchange, to extend the time for holding the Meeting.
The Company is also pleased to announce that
the United States Securities and
Exchange Commission ("SEC") has indicated that it has no further
comments in respect of its review of the Company's May 31, 2013 Schedule 13E-3 going private
transaction statement filing, as amended ("Schedule 13E-3"). In
response to the comments received from the SEC and in order to
augment its previous disclosure, the Company has prepared an
amended and restated management information circular, a copy of
which will be mailed to all securityholders of the Company as soon
as practicable. The amended and restated management information
circular, as well as the Schedule 13E-3, will also be available for
download from the Company's website at www.sprottlending.com as
well as under its profile on SEDAR at www.sedar.com and EDGAR at
www.sec.gov.
"We apologize for the delay and any
inconvenience this unexpected postponement of our annual and
special meeting may have caused to our shareholders. We would like
to thank our shareholders for their continuing patience and
support", said Murray Sinclair,
Chairman of Sprott Resource Lending's Board of Directors. To date,
approximately 72.68% of the votes have been received, of which
98.91% of such votes are in favour of approving the
Arrangement.
Shareholders who have already submitted a form
of proxy or voting instruction form and do not wish to change their
vote need not take any further action and shareholders continue to
have the right to revoke or change their proxies prior to the
commencement of the Meeting.
The record date for the Meeting has not changed
and remains the close of business (5:00
p.m. (Toronto time)) on
May 23, 2013.
It is currently expected that the closing of the
Arrangement will take place on or about July
24, 2013.
About Sprott Resource Lending Corp.
Sprott Resource Lending (www.sprottlending.com)
specializes in lending to resource companies on a global basis.
Headquartered in Toronto, the
Company seeks to generate income from lending activities as well as
the upside potential of bonus arrangements with borrowers generally
tied to the underlying property or shares of the borrower. Pursuant
to a management services agreement and a partnership agreement,
Sprott Lending Consulting Limited Partnership ("SLCLP") provides
Sprott Resource Lending day to day business management as well as
other management and administrative services. SLCLP is a wholly
owned subsidiary of Sprott Inc. (www.sprottinc.com), the parent of
Sprott Asset Management LP (www.sprott.com). For more information
about Sprott Resource Lending, please visit SEDAR
(www.sedar.com).
Caution Regarding Forward-Looking Statements and
Information
This document includes certain statements that constitute
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities laws (collectively,
"forward-looking statements"). These statements include statements
regarding Sprott Resource Lending's intent, or the beliefs or
current expectations of Sprott Resource Lending's officers and
directors. Such statements are typically identified by words such
as "believe", "anticipate", "estimate", "project", "intend",
"expect", "may", "will", "plan", "should", "would", "contemplate",
"possible", "attempts", "seeks" and similar expressions.
Forward-looking statements may relate to Sprott Resource Lending's
future outlook and anticipated events or results.
By their very nature, forward-looking statements
involve numerous assumptions, inherent risks and uncertainties,
both general and specific, and the risk that predictions and other
forward-looking statements will not prove to be accurate. Do not
unduly rely on forward-looking statements, as a number of important
factors, many of which are beyond Sprott Resource Lending's
control, could cause actual results to differ materially from the
estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to:
(a) the inability of Sprott Resource Lending to obtain
(i) approval of the transaction by the court and the other
regulatory approvals, and (ii) approval of the transaction by
the shareholders at an annual and special meeting of Sprott
Resource Lending shareholders; and (b) the occurrence of any
other event, change or other circumstance that could give rise to
the termination of the Arrangement Agreement (as defined in the
information circular), or the delay of consummation of the
transaction or failure to complete the arrangement for any other
reason.
Forward-looking statements speak only as of the
date those statements are made. Except as required by applicable
law, Sprott Resource Lending does not assume any obligation to
update, or to publicly announce the results of any change to, any
forward-looking statement contained herein to reflect actual
results, future events or developments, changes in assumptions or
changes in other factors affecting the forward-looking
statements.
SOURCE Sprott Resource Lending Corp.