Business
Sprott Resource Corp. announces that Severstal has clarified the expiration date for its PBS offer
TORONTO, Oct. 22 /CNW/ - Sprott Resource Corp. ("SRC") today announced that the expiration date f...
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\nTORONTO, Oct. 22 /CNW/ - Sprott Resource Corp. ("SRC") today announced\nthat the expiration date for the September 5th, 2008 offer (the "Offer") by an\naffiliate of OAO Severstal ("Severstal") to purchase all outstanding shares of\nPBS Coals Limited ("PBS") has been extended by Severstal to 11:59 p.m.\n(Toronto time) on October 24, 2008. The terms of the Offer remain unchanged at\nC$8.30 cash per share. SRC owns 27,144,938 shares of PBS, which it has\ntendered into the Offer.\n\n\nOn October 10, 2008, Severstal announced the extension of the expiration\ndate for the Offer until October 20, 2008. However, due to the Canadian\nThanksgiving long weekend, the mailing of the Notice of Extension to\nshareholders of PBS did not occur until October 14, 2008. In accordance with\napplicable Canadian Securities laws, any extension of an Offer must remain\nopen for a minimum period of 10 days from the date it is mailed to\nshareholders. Accordingly, the expiry time of the Offer is 11:59 p.m. (Toronto\ntime) on October 24, 2008.\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 with\nthe Offer, including the possibility ...