/NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR
DISSEMINATION THROUGH U.S. NEWS WIRE SERVICES/
TORONTO, March 8, 2013 /CNW/ - Sprott Inc. (TSX: SII) ("Sprott" or the
"Company") today announced it will seed and launch a new alternative
investment fund, the objective of which is to provide superior
risk-adjusted returns to investors by drawing on the combined expertise
and resources of the firm.
Sprott also announced that it has entered into a definitive agreement
with an institutional investor to issue, on a private placement basis,
7,575,758 common shares at a price of $3.30 per share, for total gross
proceeds of $25 million. The transaction is expected to close on or
about March 13, 2013 and is subject to customary closing conditions and applicable regulatory
This press release does not constitute an offer to sell or solicitation
of an offer to buy the securities in the United States or any other
jurisdiction. The common shares will not be and have not been
registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements.
This release contains "forward-looking statements" which reflect the
current expectations of the Company. These statements reflect
management's current beliefs with respect to future events and are
based on information currently available to management. Forward-looking
statements involve significant known and unknown risks, uncertainties
and assumptions. Many factors could cause actual results, performance
or achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by such
forward-looking statements including, without limitation, those listed
under the heading "Risk Factors" in the Company's annual information
form dated March 27, 2012. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results, performance
or achievements could vary materially from those expressed or implied
by the forward-looking statements contained in this release. Although
the forward-looking statements contained in this release are based upon
what the Company believes to be reasonable assumptions, the Company
cannot assure investors that actual results, performance or
achievements will be consistent with these forward-looking statements.
These forward-looking statements are made as of the date of this
release and the Company does not assume any obligation to update or
revise them to reflect new events or circumstances.
About Sprott Inc.
Sprott Inc. is a leading alternative 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 Inc. is headquartered
in Toronto, Canada, and is listed on the Toronto Stock Exchange under
the symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.
SOURCE: Sprott Inc.
For further information:
Glen Williams Director of Communications