Sprott Resource Corp. announces that 7027940 Canada Limited succeeds in bid for shares of PBS

About this update from Winchester Equity Corporation

[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 4 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC")\nannounced today that 7027940 Canada Limited (the "Offeror") has announced that\nwith all the conditions to its offer (the "Offer") for all the outstanding\nshares of PBS Coals Limited ("PBS") having been satisfied or waived, the\nOfferor has instructed the depositary to take up and accept for payment all\nPBS shares tendered to the Offer. The Offeror has indicated that it will\nprovide the depositary with the funds necessary to make such payment on or\nbefore November 5, 2008. SRC owns 27,144,938 PBS shares, which it has tendered\nto the Offer.\n\n\nAbout Sprott Resource Corp.\n\n\nSRC is a Canadian based company, the primary purpose of which is to\ninvest, directly and indirectly, in natural resources. Through acquisitions,\njoint ventures and other investments, SRC seeks to provide its shareholders\nwith exposure to the natural resource sector for the purposes of capital\nappreciation and real wealth preservation. SRC is well positioned to draw upon\nthe considerable experience and expertise of both its Board of Directors and\nSprott Consulting Limited Partnership (SCLP), of which Sprott Asset Management\nInc. is the sole limited partner. Pursuant to a management services agreement\nbetween SCLP and SRC, SCLP provides day-to-day business management for SRC as\nwell as other management and administrative services.\n\n\nForward Looking Statements\n\n\nCertain statements contained herein may constitute "forward-looking\nstatements" under applicable securities laws. Some of the forward-looking\nstatements can be identified by words such as "expects", "anticipates",\n"should", "believes", "plans", and similar expressions. These statements\nnecessarily involve risk, including without limitation, risks associated the\nability of the Offeror to complete payment for the shares tendered to the\nOffer. Actual results and future events could differ materially from those\nexpressed in, or implied by, the forward-looking statements. No assurance can\nbe given that any events anticipated by the forward-looking statements will\noccur. These forward-looking statements are made as at the date of this news\nrelease. SRC does not undertake any obligation to publicly update o...

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