Sprott 2010 Flow-Through Limited Partnership Completes $51.4 Million IPO

TORONTO, March 24 /CNW/ - Sprott Asset Management LP is pleased to announce that Sprott 2010 Flow-Through Limited Partnership (the "Partnership") has completed the second and final closing of its initial public offering of limited partnership units. The Partnership raised $11,680,000 on the sale of 467,200 units at $25.00 per unit for aggregate total gross proceeds raised from the offering of $51,417,150.

The Partnership's investment objective is to provide for a tax-assisted investment in a diversified portfolio of flow-through shares and other securities, if any, of resource issuers with a view to achieving capital appreciation and significant tax benefits for limited partners. The Partnership's portfolio is expected to consist primarily of securities of resource companies whose principal business will be: (i) primarily, oil and gas exploration, development, and/or production and certain energy production that may incur CRCE's, and (ii) to a lesser extent, mining exploration, development, and/or production. Sprott 2010 Corporation, the general partner of the Partnership, expects limited partners to receive tax deductions equal to 100% of the gross proceeds of the offering for the 2010 taxation year.

The Partnership has retained Sprott Asset Management LP ("SAM") to provide investment, management and administrative services to Sprott 2010 Corporation. Founded in 2000, SAM is one of Canada's premier investment firms and manages a selection of mutual funds and long/short equity hedge funds. The management team responsible for the execution of the Partnership's investment strategy is comprised of Allan Jacobs and Eric Nuttall. In addition to Mr. Jacobs and Mr. Nuttall, the Partnership will also benefit from the insights of SAM's team of award-winning investment managers, including Eric Sprott, John Embry and Charles Oliver.

The offering was made through a syndicate of agents co-led by RBC Capital Markets and TD Securities Inc. and which included CIBC World Markets Inc., BMO Capital Markets, National Bank Financial Inc., Dundee Securities Corporation, Scotia Capital Inc., Canaccord Financial Ltd., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

About Sprott Asset Management LP

Sprott Asset Management LP is one of Canada's premier investment firms. Founded in 2000, SAM is widely acknowledged for its investment acumen and dedication to generating consistent long-term returns for its investors. The company boasts a team of award-winning portfolio managers who are all experts in their respective investment styles. The SAM investment team currently manages eight mutual funds and three hedge fund strategies, with each manager leading their own respective strategy and mandate. The common shares of SAM's parent company, Sprott Inc., are listed on the Toronto Stock Exchange under the symbol "SII".


For further information: For further information: on Sprott Asset Management LP, please visit www.sprott.com; Investor contact information: (416) 362-7172 or (866) 299-9906 or invest@sprott.com

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