Business
Arthur Richards Rule IV Files Early Warning Report
TORONTO , July 26, 2013 /CNW/ - Arthur Richards Rule IV (the " Offeror ") acquired an ...
About this update from Sprott Inc.
[{"type":"text","content":"\n\n\nTORONTO, July 26, 2013 /CNW/ - Arthur Richards Rule IV (the \"Offeror\") acquired an aggregate of 7,612,584 common shares (the \"Shares\") of Sprott Inc. (the \"Corporation\"). The Shares were acquired in connection with a court approved plan of\n arrangement under the Canada Business Corporations Act (the \"Arrangement\") involving the Corporation and Sprott Resource Lending Corp. (the \"Target\") pursuant to which the Corporation acquired ownership of all of the\n issued and outstanding common shares of the Target (the \"Target Shares\") (other than the 8,977,654 Target Shares already owned by the\n Corporation). In accordance with the terms of the Arrangement, each\n shareholder of the Target (a \"Shareholder\"), including the Offeror but excluding the Corporation and any\n Shareholders who exercised dissent rights in respect of the\n Arrangement, received one-half of one common share in the capital of\n the Corporation and Cdn.$0.15 in cash for each Target Share held. As of\n the date hereof, after giving effect to the Arrangement, the Offeror\n owns, or exercises control or direction over, 26,880,084 Shares,\n representing approximately 10.84% of the issued and outstanding Shares\n on a non-diluted basis.\n\n\nThe Shares were acquired for investment purposes. The Offeror has a\n long-term view of the investment and does not intend at this time to\n acquire additional Shares, but may increase his shareholdings of the\n Corporation in the future depending on market conditions, reformulation\n of plans and/or other relevant factors.\n\n\nIn this press release, for the purpose of calculating the percentage of\n Shares owned, or controlled or directed, the Offeror has assumed that\n there are 247,963,792 Shares issued and outstanding as of the date\n hereof, as reported by the Corporation in its early warning report\n dated as of July 24, 2013 after giving effect to the Arrangement.\n\n\nThis press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting\n Issues, which also requires a report to be filed with regulatory authorities\n in each of the jurisdictions in which the Corporation is a reporting\n issuer containing information with respect to the foregoing matters\n (the \"Early Warning Report\"). A copy of the Early Warning Report appears wit...