Business
Sprott Resource Corp. Announces Holdings in Galleon Energy Inc.
TORONTO, Oct. 4, 2011 /CNW/ - Sprott Resource Corp. (TSX: SCP) - Sprott Resource Corp. (" SRC...
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Oct. 4, 2011 /CNW/ - Sprott Resource Corp. (TSX: SCP) - Sprott\n Resource Corp. (\"SRC\") announced today that it has acquired ownership of 951,911 common\n shares of Galleon Energy Inc. (\"Galleon\"), which, based on information contained in documents publicly filed by\n Galleon, represents approximately 1.1% of the total issued and\n outstanding common shares of Galleon.  The common shares were acquired\n through the facilities of the Toronto Stock Exchange for a purchase\n price of $2.02 per common share.\n\n\nAfter giving effect to the acquisition referred to above, SRC owns\n 15,519,477 common shares of Galleon at an average purchase price of\n $2.94 per common share, which, based on information contained in\n documents publicly filed by Galleon, represents approximately 18.0% of\n the total issued and outstanding common shares of Galleon.\n\n\nSRC has acquired the common shares of Galleon for investment purposes. \n SRC may purchase or sell securities of Galleon in the future on the\n open market, in private transactions or otherwise, depending on market\n conditions and other factors material to the investment decisions of\n SRC.\n\n\nAbout Sprott Resource Corp.\n\n\nSRC is a Canadian-based company, the primary purpose of which is to\n invest and operate in natural resources.  Through acquisitions, joint\n ventures and other investments, SRC seeks to provide its shareholders\n with exposure to the natural resource sector for the purposes of\n capital appreciation and real wealth preservation. SRC is well\n positioned to draw upon the considerable experience and expertise of\n both its Board of Directors and Sprott Consulting LP (SCLP), of which\n Sprott Inc. is the sole limited partner.  Pursuant to a management\n services agreement between SCLP and SRC, SCLP provides day-to-day\n business management for SRC as well as other management and\n administrative services.  SRC invests and operates through Sprott\n Resource Partnership (SRP), a partnership between SRC and Sprott\n Resource Consulting Limited Partnership, an affiliate of SCLP which is\n the managing partner of SRP.\n\n\nForward Looking Statements\n\n\nCertain statements contained herein may constitute \"forward-looking\n statements\" or \"forward looking information\" under applicable\n securities laws. Some of the fo...