05:54:09 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Sprott Inc
Symbol SII
Shares Issued 248,478,045
Close 2017-03-24 C$ 2.32
Market Cap C$ 576,469,064
Recent Sedar Documents

Sprott acquires 47.93 million Sprott Resource shares

2017-03-24 19:27 ET - News Release

Mr. Arthur Einav reports

SPROTT INC. ANNOUNCES HISTORICAL EARLY WARNING DISCLOSURE FILING RELATING TO ACQUISITION OF SECURITIES OF SPROTT RESOURCE HOLDINGS INC.

On Feb. 9, 2017, Sprott Inc. acquired direct ownership of an aggregate of 47,931,755 common shares and indirect ownership of 21.75 million common share purchase warrants of Sprott Resource Holdings Inc. (SRHI).

Sprott acquired 5,013,300 shares in exchange for 1,671,100 common shares of Sprott Resource Corp. in connection with a plan of arrangement under the Canada Business Corporations Act pursuant to which Sprott Resource Corp. 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 23.3 cents for an aggregate subscription price of $10-million. 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 per cent of the issued and outstanding shares of SRHI on a non-diluted basis, and approximately 13.09 per cent 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.

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 and may also be obtained by calling Arthur Einav, general counsel, at 416-362-7172.

About Sprott Inc.

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.

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