NYSE MKT: SILU
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.
CAUTION REGARDING FORWARD-LOOKING 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 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
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