Sprott completes acquisition of Toscana Companies

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, July 10, 2012 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\") today announced it has completed its acquisition of Toscana Capital\n Corporation and Toscana Energy Corporation (collectively, the \"Toscana\n Companies\"). As at the date hereof, the Toscana Companies' managed\n entities have aggregate assets of approximately $160 million.\n\n\n\"We are pleased to welcome Toscana to our organization,\" said Peter\n Grosskopf, CEO of Sprott. \"Toscana brings us a team focused on yield\n products in the energy sector, enhanced origination and technical\n skills in the energy industry, and a presence in the Calgary\n marketplace.\"\n\n\n\"We are excited to join the Sprott Group of Companies,\" said Joseph\n Durante, CEO of the Toscana Companies. \"The two organizations share a\n similar outlook and possess complementary skillsets that will allow us\n to build a stronger Calgary presence.\"\n\n\nAbout the Toscana Companies\nToscana Capital Corporation manages Toscana Financial Income Trust\n (\"TFIT\"), a private mutual fund trust established in June 2006 focused\n on providing mezzanine debt financing to mid-sized private and public\n oil & gas companies. TFIT has a current capitalization of approximately\n $54 million.\n\n\nToscana Energy Corporation manages Toscana Resource Corporation (\"TRC\"),\n a mutual fund corporation established in April 2010 focused on\n investing in medium and long-term oil & gas assets, unitized production\n interests and royalties. TRC currently has aggregate assets that have a\n value of approximately $76 million.\n\n\nIn addition, Toscana Energy Corporation is a technical advisor to and\n co-manager of Maple Leaf 2011 Energy Income Fund LP and Maple Leaf 2011\n Energy Income Fund LP (collectively, \"MLEI\"), a flow-through limited\n partnership focused on investing in non-operated, direct working\n interests by participating in oil & gas development projects (drilling\n programs). MLEI is co-managed by Toscana Energy Corporation and a third\n party manager. MLEI currently has aggregate assets that have a value of\n approximately $34 million.\n\n\nAbout Sprott Inc.\nSprott Inc. is a leading independent alternative asset manager dedicated\n to achieving superior returns for its clients over the long term. The\n Company currently operates through four business units: Sprott Asse...

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