Sprott Resource Corp. Announces Launch of Independence Contract Drilling, Inc.'s Initial Public Offering

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[{"type":"text","content":"\n\n\nTORONTO, July 28, 2014 /CNW/ - Sprott Resource Corp. (\"SRC\" or \"the\n Company\") (TSX: SCP) announced today that its investee company,\n Independence Contract Drilling, Inc. (NYSE: ICD), has launched its\n initial public offering of 10,000,000 shares of common stock. The\n shares are expected to trade on the New York Stock Exchange under the\n ticker symbol \"ICD.\" The underwriters of the offering will have a\n 30-day option to purchase up to an additional 1,500,000 shares from\n Independence Contract Drilling to cover over-allotments, if any.\n\n\nMorgan Stanley, RBC Capital Markets and Tudor, Pickering, Holt & Co. are\n acting as book-running managers for the offering. Canaccord Genuity,\n Capital One Securities, Cowen and Company, FBR, IBERIA Capital Partners\n L.L.C. and Johnson Rice & Company L.L.C. are acting as co-managers. The\n offering is being made only by means of a prospectus. Once it becomes\n available, potential investors can obtain a prospectus that meets the\n requirements of Section 10 of the Securities Act of 1933 from:\n\n\nMorgan Stanley & Co. LLC\nAttn: Prospectus Department\n180 Varick Street, 2nd Floor\nNew York, NY 10014\n\n\nRBC Capital Markets, LLC\nAttn: Prospectus Department\nThree World Financial Center\n200 Vesey Street, 8th Floor\nNew York, New York 10281\nTelephone: (877) 822-4089\n\n\nTudor, Pickering, Holt & Co. Securities, Inc.\nAttn: Prospectus Department\nHeritage Plaza\n1111 Bagby, Suite 5100\nHouston, TX 77002\nTelephone: (713) 333-7100\n\n\nWhen available, to obtain a copy of the prospectus free of charge, visit\n the U.S. Securities and Exchange Commission's website, www.sec.gov, and search under the registrant's name, \"Independence Contract\n Drilling, Inc.\"\n\n\nA registration statement relating to these securities has been filed\n with the SEC, but has not yet become effective. These securities may\n not be sold nor may offers to buy be accepted prior to the time the\n registration statement becomes effective. This news release shall not\n constitute an offer to sell or the solicitation of an offer to buy the\n securities, nor shall there be any sale of these securities in any\n state or jurisdiction in which such offer, solicitation or sale would\n be unlawful prior to the registration or qualification under the\n securities laws of any such state or juri...

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