TORONTO, July 24, 2013 /CNW/ - Sprott Inc.
("Sprott" or "the Company") (TSX: SII) and Sprott
Resource Lending Corp. ("SRLC" or "Sprott Resource
Lending") (TSX:SIL; NYSE MKT:SILU) announce today that Sprott
has completed its previously announced acquisition of all of the
outstanding common shares of SRLC pursuant to the terms of a plan
of arrangement (the "Arrangement"). As a result, SRLC has
become a wholly-owned subsidiary of Sprott. It is anticipated that
the common shares of SRLC will be suspended from trading before the
market opens on July 25, 2013 on the
NYSE MKT LLC and no longer be listed for trading on the NYSE MKT
LLC on or about August 5, 2013 or on
the Toronto Stock Exchange on or about July
29, 2013. Sprott will also cause SRLC to submit an
application to cease to be a reporting issuer in each reporting
jurisdiction in Canada. Under the
terms of the Arrangement, each former shareholder of SRLC will be
entitled to receive one-half of one Sprott common share and
$0.15 in cash for each SRLC common
share held.
Pursuant to Rule 12(g)(3) under the United
States Securities Exchange Act of 1934, as amended (the
"Exchange Act"), Sprott has succeeded to the Section 12
registration, and Section 13(a) reporting obligations under the
Exchange Act, of SRLC. However, Sprott intends to file a Form 15F,
as soon as practicable on or about August 5,
2013, with the United States Securities and Exchange
Commission ("SEC") to voluntarily terminate the registration
of the SRLC common shares under Section 12(g) as well as SRLC's
reporting obligations under Section 13(a) of the Exchange Act.
Pursuant to Rule 12(h)-(6) under the Exchange Act, the SEC permits
a foreign private issuer to terminate the registration of a class
of securities under Section 12(g) of the Exchange Act if it meets
certain requirements. Upon the filing of the Form 15F, the
Company's reporting obligations under the Exchange Act will be
suspended immediately and will terminate no more than 90 days after
the filing, barring any objections from the SEC.
SRLC shareholders requiring assistance with
submitting their shares for exchange should contact their broker or
Equity Financial Trust Company at 1-866-393-4891 or
corporateactions@equityfinancialtrust.com.
About Sprott
Sprott is a leading independent asset manager
dedicated to achieving superior returns for its clients over the
long term. The Company currently operates through four business
units: Sprott Asset Management LP, Sprott Private Wealth LP, Sprott
Consulting LP, and Sprott U.S. Holdings Inc. Sprott Asset
Management is the investment manager of the Sprott family of mutual
funds and hedge funds and discretionary managed accounts; Sprott
Private Wealth provides wealth management services to high net
worth individuals; and Sprott Consulting provides management,
administrative and consulting services to other companies. Sprott
U.S. Holdings Inc. includes Sprott Global Resource Investments Ltd,
Sprott Asset Management USA Inc.,
and Resource Capital Investments Corporation. Sprott is
headquartered in Toronto, Canada,
and is listed on the Toronto Stock Exchange under the symbol "SII".
For more information on Sprott, please visit www.sprottinc.com.
About Sprott Resource Lending
Sprott Resource Lending (www.sprottlending.com)
specializes in lending to resource companies on a global basis.
Headquartered in Toronto, SIL
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 with day to day business management as well
as other management and administrative services. SLCLP is a wholly
owned subsidiary of Sprott (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).
Forward-Looking Statements
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's or Sprott Resource Lending's
intent, or the beliefs or current expectations of Sprott's or
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's or 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's or Sprott Resource
Lending's control, could cause actual results to differ materially
from the estimates and intentions expressed in such forward-looking
statements.
Forward-looking statements speak only as of the
date those statements are made. Except as required by applicable
law, neither Sprott nor Sprott Resource Lending 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 Inc.