Business
SPROTT INC. COMPLETES ACQUISITION OF GLOBAL RESOURCE INVESTMENTS LTD., TERRA RESOURCE INVESTMENT MANAGEMENT INC. AND RESOURCE CAPITAL INVESTMENTS CORP.
Feb. 7, 2011 (Canada NewsWire Group) -- TORONTO, Feb. 7 /CNW/ - Sprott Inc. (TSX:SII) ("...
About this update from Sprott Inc.
[{"type":"text","content":"\n\n\n\n Feb. 7, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Feb. 7 /CNW/ - Sprott Inc. (TSX:SII) ("Sprott") today announced it has completed its acquisition of Global Resource\n Investments, Ltd., Terra Resource Investment Management, Inc. and\n Resource Capital Investment Corporation (collectively, the "Global Companies").  In addition, Rick Rule, founder of the Global Companies, has joined\n the Sprott investment and management teams.\n\n\nThe purchase price was satisfied by the issue of 19,467,500 common\n shares of Sprott with a value of $8.67 per share, being the closing\n price of Sprott shares on the Toronto Stock Exchange on February 4,\n 2011. An additional 532,500 common shares of Sprott will be provided to\n employees of the Global Companies after closing.  In addition, the\n seller and certain current and future employees will be eligible to\n earn up to an additional eight million common shares of Sprott with the\n achievement of certain EBITDA targets by the Global Companies.\n\n\nSince the initial announcement of the proposed transaction in September\n 2010, the investment performance of the Global Companies' assets under\n management has been exceptionally strong, similar to the results\n generated by the equity mutual funds and hedge funds managed by Sprott.\n\n\n"We are delighted to have completed this transaction and will move\n quickly to integrate the Global Companies with the Sprott Group of\n Companies. We ...