Business
Sprott Resource Corp. Announces $19.5 Million Investment in InPlay Oil Corp.
TORONTO , June 16, 2014 /CNW/ - Sprott Resource Corp. ("SRC" or the "Company") (TSX: SCP...
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\nTORONTO, June 16, 2014 /CNW/ - Sprott Resource Corp. (\"SRC\" or the\n \"Company\") (TSX: SCP) announced today that it has invested $19.5\n million in InPlay Oil Corp. (\"InPlay\"), a private exploration and\n development company based in Calgary, Alberta.\n\n\n\"The InPlay executive team, led by Doug Bartole, has started to acquire\n high-quality, light oil growth assets in Alberta,\" said Steve Yuzpe,\n President and CEO of SRC. \"We believe that InPlay has the management\n and technical skills necessary to build a large, low decline,\n liquids-focused asset base by identifying, exploring, and developing\n these opportunities in attractive areas.\"\n\n\n\"We are pleased to be investing alongside management, company directors\n and other significant private equity investors, providing us with\n strong partners to support the future growth of the business,\" added\n Mr. Yuzpe. \"We are committed to expanding our presence in Calgary and\n continue to actively source new accretive investment and partnership\n opportunities in Canada's leading energy market.\"\n\n\n\"We are pleased to have the support of SRC as a principal shareholder\n along with our current strong capital partners which include JOG\n Capital and other global funds.  These shareholders have provided\n significant funding which gives InPlay strong financial flexibility and\n will be a key factor in allowing InPlay to achieve its business goals\n and strategy,\" said Doug Bartole, CEO of InPlay.\n\n\nInPlay's management team is led by Doug Bartole, the founder and former\n CEO of Vero Energy Inc., Kevin Yakiwchuk, fellow co-founder and former\n VP Exploration of Vero Energy Inc., Gordon Reese, the founder and\n former CEO of Invicta Energy Ltd., Thane Jensen, former Senior VP\n Operations at Penn West Exploration Ltd., and Darren Dittmer, former\n CFO of Barrick Energy Inc.\n\n\nAbout Sprott Resource Corp.\n\n\nSprott Resource Corp. (TSX: SCP) is a resource-focused private equity\n investor managed by one of Canada's leading teams of resource private\n equity specialists. The company currently has investments in oil and\n gas, mining, agriculture and agricultural nutrients. SRC takes an\n active involvement in the companies in which it invests. Management is\n dedicated to generating consistently superior returns on capital for\n its shareholders, wh...