TORONTO, June 26, 2013 /CNW/ - Sprott Resource Lending Corp. (the
"Company" or "Sprott Resource Lending") (TSX:SIL) (NYSE MKT:SILU)
announced today that its annual and special meeting of shareholders
(the "Meeting"), originally scheduled for June 25, 2013, has been
rescheduled to 10:00 a.m. (Toronto time) on Thursday, July 18, 2013 at
the TSX Gallery, TMX Broadcast Centre, The Exchange Tower, 130 King
Street West, Toronto, Ontario for the same purposes as set out in the
notice of annual and special meeting of shareholders and management
information circular of the Company dated May 24, 2013, including the
proposed plan of arrangement between Sprott Inc. ("Sprott") and the
Company (the "Arrangement").
The Company has been granted an order by the Ontario Superior Court of
Justice, which is the court supervising the Arrangement, and has
received approval of the Toronto Stock Exchange, to extend the time for
holding the Meeting.
The Company is also pleased to announce that the United States
Securities and Exchange Commission ("SEC") has indicated that it has no
further comments in respect of its review of the Company's May 31, 2013
Schedule 13E-3 going private transaction statement filing, as amended
("Schedule 13E-3"). In response to the comments received from the SEC
and in order to augment its previous disclosure, the Company has
prepared an amended and restated management information circular, a
copy of which will be mailed to all securityholders of the Company as
soon as practicable. The amended and restated management information
circular, as well as the Schedule 13E-3, will also be available for
download from the Company's website at www.sprottlending.com as well as under its profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
"We apologize for the delay and any inconvenience this unexpected
postponement of our annual and special meeting may have caused to our
shareholders. We would like to thank our shareholders for their
continuing patience and support", said Murray Sinclair, Chairman of
Sprott Resource Lending's Board of Directors. To date, approximately
72.68% of the votes have been received, of which 98.91% of such votes
are in favour of approving the Arrangement.
Shareholders who have already submitted a form of proxy or voting
instruction form and do not wish to change their vote need not take any
further action and shareholders continue to have the right to revoke or
change their proxies prior to the commencement of the Meeting.
The record date for the Meeting has not changed and remains the close of
business (5:00 p.m. (Toronto time)) on May 23, 2013.
It is currently expected that the closing of the Arrangement will take
place on or about July 24, 2013.
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 a 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). For more information about Sprott Resource Lending, please visit
Caution Regarding Forward-Looking Statements and Information
This document includes certain statements that constitute
"forward-looking statements" and "forward-looking information" within
the meaning of applicable securities laws (collectively,
"forward-looking statements"). These statements include statements
regarding Sprott Resource Lending's intent, or the beliefs or current
expectations of Sprott Resource Lending's officers and directors. Such
statements are typically identified by words such as "believe",
"anticipate", "estimate", "project", "intend", "expect", "may", "will",
"plan", "should", "would", "contemplate", "possible", "attempts",
"seeks" and similar expressions. Forward-looking statements may relate
to Sprott Resource Lending's future outlook and anticipated events or
By their very nature, forward-looking statements involve numerous
assumptions, inherent risks and uncertainties, both general and
specific, and the risk that predictions and other forward-looking
statements will not prove to be accurate. Do not unduly rely on
forward-looking statements, as a number of important factors, many of
which are beyond Sprott Resource Lending's control, could cause actual
results to differ materially from the estimates and intentions
expressed in such forward-looking statements. These factors include,
but are not limited to: (a) the inability of Sprott Resource Lending to
obtain (i) approval of the transaction by the court and the other
regulatory approvals, and (ii) approval of the transaction by the
shareholders at an annual and special meeting of Sprott Resource
Lending shareholders; and (b) the occurrence of any other event, change
or other circumstance that could give rise to the termination of the
Arrangement Agreement (as defined in the information circular), or the
delay of consummation of the transaction or failure to complete the
arrangement for any other reason.
Forward-looking statements speak only as of the date those statements
are made. Except as required by applicable law, Sprott Resource Lending
does not assume any obligation to update, or to publicly announce the
results of any change to, any forward-looking statement contained
herein to reflect actual results, future events or developments,
changes in assumptions or changes in other factors affecting the
SOURCE: Sprott Resource Lending Corp.
For further information:
Investor Contact Information:
Sprott Resource Lending Corp.
Narinder Nagra, President and COO
Jim Grosdanis, CFO