SII Sprott Inc

Sprott Inc. (TSX: SII) ("Sprott") and Tocqueville Asset Management (“Tocqueville”) today announced that Sprott Asset Management LP (“SAM”) and Tocqueville have mutually agreed to amend the asset purchase agreement whereby Sprott will acquire the Tocqueville gold strategies.

The amendment reduces the Sprott common shares paid to Tocqueville from common shares valued at US$5 million to common shares valued at US$2.5 million, and correspondingly increases the cash payment to Tocqueville at closing from US$10 million to US$12.5 million.

“Given the recent correction in our share price, our strong balance sheet, and our ongoing normal course bid activity, we believe this adjustment is best for our long-term shareholders,” said Whitney George, President of Sprott.

The transaction is still expected to close in January 2020, subject to security holder approval for certain acquired strategies, regulatory and stock exchange approvals and other customary conditions to closing.

About Sprott

Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, Sprott is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Lending, Managed Equities and Brokerage. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver and its common shares are listed on the Toronto Stock Exchange under the symbol (TSX:SII). For more information, please visit www.sprott.com.

About Tocqueville

The Tocqueville Trust was organized as an open-end management company in 1986 to hold the Tocqueville Fund, which launched in 1987. Over the next several decades, complementary funds were added to create the Tocqueville Family of Funds (“the Funds”). Tocqueville Asset Management L.P. (“TAM”) provides investment management and advisory services to all of the Funds. TAM has been managing institutional and private client accounts since its founding in 1985 with a focus on growing and preserving clients’ long-term capital. The experienced investment professionals of TAM manage accounts, including the Funds, utilizing independent thinking and rigorous research. For more information, please visit www.tocquevillefunds.com.

Forward Looking Statements

This press release contains statements that constitute "forward-looking information" (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. In particular, but without limiting the forgoing, this press release contains forward-looking statements pertaining to the acquisition of the Tocqueville gold strategies asset management business, including that the transaction will be completed and the timing thereof. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sprott to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, without limitation, risk and uncertainties that are inherent in the nature of the transaction, including: failure to realize anticipated synergies; risks regarding integration; incorrect assessments of the values of the acquired assets; and failure to obtain any required security holder, regulatory, stock exchange and other approvals (or to do so in a timely manner). The anticipated timeline for completion of the transaction may change for a number of reasons, including the inability to secure necessary security holder, regulatory, stock exchange and other approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the transaction. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the completion of the transaction or the timing thereof.

Forward-looking statements contained herein are made as of the date of this press release and Sprott disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Investor contact information:

Glen WilliamsManaging Director Investor Relations & Corporate Communications(416) 943-4394gwilliams@sprott.com