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ISS Proxy Advisory Services and Glass, Lewis & Co. endorse proposed arrangement involving Sprott Resource Lending Corp. and Sprott Inc.

2013-06-17 09:23 ET - News Release

ISS Proxy Advisory Services and Glass, Lewis & Co. endorse proposed arrangement involving Sprott Resource Lending Corp. and Sprott Inc.

Canada NewsWire


TORONTO, June 17, 2013 /CNW/ - Sprott Resource Lending Corp. ("Sprott Resource Lending" or the "Company") is pleased to announce that ISS Proxy Advisory Services ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have each issued a report in which they recommend that shareholders of the Company vote in favour of the plan of arrangement involving the Company and Sprott Inc. ("Sprott") under the Canada Business Corporations Act pursuant to which Sprott will acquire all of the outstanding common shares in the capital of the Company (the "Arrangement").

ISS and Glass Lewis are leading independent international corporate governance analysis and proxy voting firms. Their recommendations assist shareholders to make their decisions regarding proxy voting.

The Company wishes to remind its shareholders of the upcoming Annual and Special Meeting of Shareholders (the "Meeting"). To date, only approximately 41% of the votes have been received, of which a substantial majority of such votes are in favour of approving all matters to be put before shareholders of the Company, including voting "For" the Arrangement.

Attention - Sprott Resource Lending Shareholders:

Whether or not you are able to attend the Meeting, we strongly encourage shareholders to vote using the form of proxy or voting instruction form provided with the materials for the Meeting.

For your vote to be considered, Computershare Investor Services Inc. must receive your proxy not later than 10:00 a.m. (Toronto time) on June 21, 2013.

Shareholders of the Company requiring further information on the Arrangement are encouraged to contact Murray Sinclair, Chairman of Sprott Resource Lending's Board of Directors, at 1-855-998-8378 between 8:00 a.m. and 4:00 p.m.(Pacific Daylight Time) during business days.

Sprott Resource Lending shareholders, who have questions regarding:

  • their form of proxy or voting their shares, may contact Computershare Investor Services Inc. at 1-800-564-6253; and]

  • the deposit of their letter of transmittal (if applicable), may contact Equity Financial Trust Company, the depositary for the Arrangement, at 1-866-393-4891 or by email at corporateactions@equityfinancialtrust.com.

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 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), a leading Canadian independent money manager.

SOURCE: Sprott Resource Lending Corp.


<p> For more information about Sprott Resource Lending, please visit SEDAR (<a font-weight="bold" href="http://www.sedar.com" font-style="italic">www.sedar.com</a>) or contact: </p> <p> Narinder Nagra, President and COO 604-488-8719 </p> <p> Jim Grosdanis, CFO  416-943-4698 </p>

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