TORONTO,
July 26, 2013 /CNW/ - Arthur Richards Rule IV (the "Offeror")
acquired an aggregate of 7,612,584 common shares (the
"Shares") of Sprott Inc. (the "Corporation"). The
Shares were acquired in connection with a court approved plan of
arrangement under the Canada Business Corporations Act (the
"Arrangement") involving the Corporation and Sprott Resource
Lending Corp. (the "Target") pursuant to which the
Corporation acquired ownership of all of the issued and outstanding
common shares of the Target (the "Target Shares") (other
than the 8,977,654 Target Shares already owned by the Corporation).
In accordance with the terms of the Arrangement, each shareholder
of the Target (a "Shareholder"), including the Offeror but
excluding the Corporation and any Shareholders who exercised
dissent rights in respect of the Arrangement, received one-half of
one common share in the capital of the Corporation and
Cdn.$0.15 in cash for each Target
Share held. As of the date hereof, after giving effect to the
Arrangement, the Offeror owns, or exercises control or direction
over, 26,880,084 Shares, representing approximately 10.84% of the
issued and outstanding Shares on a non-diluted basis.
The Shares were acquired for investment
purposes. The Offeror has a long-term view of the investment and
does not intend at this time to acquire additional Shares, but may
increase his shareholdings of the Corporation in the future
depending on market conditions, reformulation of plans and/or other
relevant factors.
In this press release, for the purpose of
calculating the percentage of Shares owned, or controlled or
directed, the Offeror has assumed that there are 247,963,792 Shares
issued and outstanding as of the date hereof, as reported by the
Corporation in its early warning report dated as of July 24, 2013 after giving effect to the
Arrangement.
This press release is issued pursuant to
National Instrument 62-103 - The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues, which also
requires a report to be filed with regulatory authorities in each
of the jurisdictions in which the Corporation is a reporting issuer
containing information with respect to the foregoing matters (the
"Early Warning Report"). A copy of the Early Warning Report
appears with the Corporation's documents on the System for
Electronic Document Analysis and Retrieval and may also be obtained
by contacting the Offeror at 1910 Palomar Point Way, Suite 200,
Carlsbad, CA 92008,
telephone number: (760) 444-5254.
The Toronto Stock Exchange has not reviewed
and does not accept the responsibility for the accuracy or adequacy
of this press release.
SOURCE Sprott Inc.