Business
Sprott Resource Corp. Announces 2009 Year End Results and Filing of Annual Information Form
Sprott Resource Corp. Announces 2009 Year End Results and Filing of Annual Information Form
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\nTORONTO, Mar. 29, 2010 (Canada NewsWire Group) -- /CNW/ -- (TSX: SCP) - Sprott Resource Corp. (\"SRC\" or the \"Company\") today announced its financial results for the year-ended December 31, 2009. SRC also announced that it has filed its annual information form (\"AIF\") for the year-ended December 31, 2009 with Canadian securities regulatory authorities, which includes the disclosure and reports relating to reserves data and other oil and gas information required pursuant to National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. The consolidated financial statements, related management's discussion and analysis and the AIF can be found on SEDAR (www.sedar.com).2009 Operational and Business Highlights:- Purchased, through Orion Oil and Gas Ltd. (\"Orion\"), a newly formedsubsidiary, all of the issued and outstanding common shares of AurigaEnergy Inc. (\"Auriga\"), a private oil and gas company operating inAlberta by way of an exempt take-over bid.- Launched One Earth Farms Corp. (\"One Earth Farms\") in Q1 2009 withinvestment of $27.5 million. In Q4 2009, One Earth Farms completed a$15 million strategic financing and issued 15 million common sharesat $1 per share.- Increased physical holdings of gold bullion to 73,971 ounces with afair market value of $84.8 million, as at December 31, 2009,representing an unrealized gain of approximately $10 million.- Investment portfolio increased by $5.2 million to $33.8 million as atDecember 31, 2009.Subsequent to Year-End:- Orion amalgamated with a wholly-owned subsidiary of WintraysonCapital Corp. and was renamed Orion Oil & Gas Corporation (\"OrionCorp.\"). Orion Corp. was listed on the TSX and currently trades underthe symbol OIP. SRC owns 79% of Orion Corp.'s issued and outstandingshares.- Waseca Energy Ltd. completed a $20 million rights offering toexisting shareholders. SRC purchased 28 million shares of Waseca for$17 million and increased its ownership to 81.3%.- Stonegate Agricom Ltd. (\"Stonegate\") filed an updated NI 43-101report for its Mantaro Phosphate Deposit demonstrating significantpotential for the project. SRC owns 72.6% of Stonegate. On March 16,2010, Stonegate announced the filing of a preliminary prospectus withthe securities regulatory authorities in each of the provinces ofCanada, other than Quebec, in respect of an initial public o...