Business
Sprott Resource Corp. Announces Variation of the Trading Parameters Set out in the Company's Automatic Repurchase Plan
TORONTO, Dec. 19, 2012 /CNW/ - (TSX:SCP) -   Sprott Resource Corp. ("SRC" or the "Com...
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Dec. 19, 2012 /CNW/ - (TSX:SCP) -  Sprott Resource Corp. (\"SRC\" or the \"Company\") announced today that it\n has increased the maximum price at which the Company will repurchase\n and cancel common shares as set out in its Automatic Repurchase Plan\n (the \"Plan\") to $4.60 per share. The Plan, previously put in place with\n a broker on September 4, 2012, was established in connection with the\n Company's Normal Course Issuer Bid (the \"Bid\"), which commenced on\n September 7, 2012, in order to facilitate purchases of SRC's common\n shares under the Bid.  The Plan permits SRC to provide standing\n instructions to its broker as to how the Company's common shares are to\n be repurchased, including during internal blackout periods and/or when\n the Company is in possession of material non-public information.   SRC\n did not possess material non-public information about itself or its\n securities at the time it increased the maximum price.\n\n\nThe Company believes that it is in the best interest of its shareholders\n to purchase shares for cancellation when management believes they are\n trading at a discount. SRC is of the view that, at appropriate times,\n repurchases through the Bid can enhance shareholder value and\n represents an attractive investment and an appropriate use of the\n Company's financial resources.\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 Limited Partnership\n (SCLP), of which Sprott Inc. is the sole limited partner.  Pursuant to\n a management services agreement between SCLP and SRC, SCLP provides\n day-to-day 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 SR...