Sprott Inc. and Sprott Resource Lending Corp. Announce Closing of Plan of Arrangement

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[{"type":"text","content":"\n\n\nTORONTO, July 24, 2013 /CNW/ - Sprott Inc. (\"Sprott\" or \"the Company\") (TSX: SII) and Sprott Resource Lending Corp. (\"SRLC\" or \"Sprott Resource Lending\") (TSX:SIL; NYSE MKT:SILU) announce today that Sprott has completed its\n previously announced acquisition of all of the outstanding common\n shares of SRLC pursuant to the terms of a plan of arrangement (the \"Arrangement\"). As a result, SRLC has become a wholly-owned subsidiary of Sprott. It\n is anticipated that the common shares of SRLC will be suspended from\n trading before the market opens on July 25, 2013 on the NYSE MKT LLC\n and no longer be listed for trading on the NYSE MKT LLC on or about\n August 5, 2013 or on the Toronto Stock Exchange on or about July 29,\n 2013. Sprott will also cause SRLC to submit an application to cease to\n be a reporting issuer in each reporting jurisdiction in Canada. Under\n the terms of the Arrangement, each former shareholder of SRLC will be\n entitled to receive one-half of one Sprott common share and $0.15 in\n cash for each SRLC common share held.\n\n\nPursuant to Rule 12(g)(3) under the United States Securities Exchange\n Act of 1934, as amended (the \"Exchange Act\"), Sprott has succeeded to the Section 12 registration, and Section\n 13(a) reporting obligations under the Exchange Act, of SRLC. However,\n Sprott intends to file a Form 15F, as soon as practicable on or about\n August 5, 2013, with the United States Securities and Exchange\n Commission (\"SEC\") to voluntarily terminate the registration of the SRLC common shares\n under Section 12(g) as well as SRLC's reporting obligations under\n Section 13(a) of the Exchange Act. Pursuant to Rule 12(h)-(6) under the\n Exchange Act, the SEC permits a foreign private issuer to terminate the\n registration of a class of securities under Section 12(g) of the\n Exchange Act if it meets certain requirements. Upon the filing of the\n Form 15F, the Company's reporting obligations under the Exchange Act\n will be suspended immediately and will terminate no more than 90 days\n after the filing, barring any objections from the SEC.\n\n\nSRLC shareholders requiring assistance with submitting their shares for\n exchange should contact their broker or Equity Financial Trust Company\n at 1-866-393-4891 or [email protected].\n\n\nAbout Sprott\n\n\nSprott is a l...

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