Sprott Resource Lending Corp. files notice of annual and special meeting and management information circular


TORONTO, May 30, 2013 /CNW/ - Sprott Resource Lending Corp. ("SRLC" or the "Company") is pleased to announce that it has filed with securities regulators its notice of annual and special meeting and management information circular ("Information Circular") in respect of its upcoming annual and special meeting (the "Meeting") of holders of common shares of SRLC ("Shareholders") to approve, among other things, the previously announced arrangement (the "Arrangement") pursuant to section 192 of the Canada Business Corporations Act involving SRLC and Sprott Inc. ("Sprott") (see press release dated May 8, 2013). The Information Circular has been filed under SRLC's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, and will be available for viewing on SRLC's website at www.sprottlending.com. The Information Circular, together with a letter of transmittal and a form of proxy, is being mailed to all Shareholders of record as of the close of business on May 23, 2013.

The Meeting is scheduled to be held on June 25, 2013 at 10:00 a.m. (Toronto time) at the Toronto Board of Trade, First Canadian Place, Suite 350, 77 Adelaide Street West, Toronto, Ontario.

The completion of the Arrangement is subject to certain conditions, including approval by not less than two-thirds (66 2/3%) of the votes validly cast by Shareholders, present in person or by proxy at the Meeting and also by a simple majority of the votes validly cast by Shareholders, present in person or by proxy at the Meeting, other than those required to be excluded in determining such approval pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, the final approval of the Ontario Superior Court of Justice (Commercial List) (the "Court") and other necessary regulatory and stock exchange approvals. If all necessary approvals are obtained and the conditions to the completion of the Arrangement are satisfied or waived, it is currently anticipated that the Arrangement will be completed in early July 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 partnership agreement, Sprott Lending Consulting Limited Partnership ("SLCLP") provides SRLC day to day business management as well as other management and administrative services.  SLCLP is a wholly owned subsidiary of Sprott (www.sprottinc.com), the parent of Sprott Asset Management LP (www.sprott.com), a leading Canadian independent money manager.


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 SRLC's intent, or the beliefs or current expectations of SRLC'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 SRLC's future outlook and anticipated events or results.

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 SRLC'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 SRLC to obtain (i) approval of the Arrangement by the Court and the other regulatory approvals, and (ii) approval of the transaction by the Shareholders at the Meeting; and (b) the occurrence of any other event, change or other circumstance that could give rise to the termination of the arrangement agreement between SRLC and Sprott dated May 8, 2013, or the delay of consummation of the Arrangement 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, SRLC 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 forward-looking statements. 

SOURCE: Sprott Resource Lending Corp.

For further information:

For more information about SRLC, please visit SEDAR (www.sedar.com) or contact:

Narinder Nagra, President and COO 604-488-8719

Jim Grosdanis, CFO  416-943-4698

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Sprott Resource Lending Corp.

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