Business
Sprott Resource Corp. Announces 2013 First Quarter Results
TORONTO, May 13, 2013 /CNW/ - (TSX: SCP) - Sprott Resource Corp. ("SRC" or the "Company") t...
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, May 13, 2013 /CNW/ - (TSX: SCP) - Sprott Resource Corp. (\"SRC\" or the \"Company\") today announced\n financial results for the three-months ended March 31, 2013.\n\n\n\"We are pleased with the continued progress of our investee companies\n and see strong potential for a rebound in the energy sector. We believe\n the outlook for natural gas is excellent and are well positioned to\n benefit from its recovery through our investments in businesses like\n Long Run Exploration Ltd. (\"Long Run\"), which has significant oil,\n natural gas liquids and natural gas assets in Alberta,\" said Kevin\n Bambrough, Chief Executive Officer of SRC. \"During the quarter, we also\n increased our energy exposure through a joint venture agreement between\n One Earth Oil & Gas Inc. (\"OEOG\") and Gift Energy Limited (\"Gift\n Energy\"), an entity established by the Gift Lake Metis Settlement\n (\"Gift Lake\"), to explore and develop Gift Lake lands for heavy oil.\"\n\n\n\"Our current portfolio consists of investments at various stages of\n maturity,\" said Paul Dimitriadis, Chief Operating Officer of SRC.\n \"Going forward, one of our priorities will be to add a company with\n current or near-term positive cash flow to our asset mix. This will\n help support our dividend policy and our commitment to building value\n for our shareholders.\"\n\n\n\"Independence Contract Drilling, Inc. (\"ICD\") continues to execute on\n its three-year strategic plan with five rigs fully contracted and one\n additional rig under construction.\" said Arthur Einav, SRC's General\n Counsel and Managing Director. \"It is anticipated that ICD will\n complete the manufacture of two or three additional rigs in 2013 and\n have one more rig in progress at the end of the year.\"\n\n\n\"During the first quarter, One Earth Farms Corp. (\"One Earth Farms\")\n continued its transition into a value-added food business with the\n acquisition of Beretta Farms Inc. (\"Beretta Farms\"), an established\n seller of antibiotic free natural and organic branded meat products in\n Ontario and British Columbia,\" said Steve Yuzpe, Chief Financial\n Officer of SRC. \"This transaction gives One Earth Farms a retail\n presence in two large markets and is an important milestone in the\n company's vertical integration process.\"\n\n\nSRC Equity attributable to shareholders a...