Sprott Resource Corp. announces listing of warrants
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, Nov. 26 - (TSX:SCP) - Sprott Resource Corp. ("SRC") announced today that it has received final approval to list on TSX a total of 16,585,784 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder to purchase one common share of SRC at a price of $4.25 at any time until 4:30 pm (Toronto time) on December 31, 2010, subject to an accelerated expiry period if, at any time, the closing trading price of the common shares of SRC are equal to or greater than $6.00 for 20 consecutive trading days. The Warrants will be listed and posted for trading on TSX at the opening on November 27, 2008 under the symbol SCP.WT.
The Warrants were issued between June 24, 2008 and July 7, 2008 to encourage the early exercise of share purchase warrants that were exercisable at $2.50. The Warrants are governed by the terms of a warrant indenture (the "Warrant Indenture") between SRC and CIBC Mellon Trust Company, as warrant agent. A copy of the Warrant Indenture is available on SEDAR (www.sedar.com).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Sprott Resource Corp.
SRC is a Canadian based company, the primary purpose of which is to invest, directly and indirectly, in natural resources. Through acquisitions, joint ventures and other investments, SRC seeks to provide its shareholders with exposure to the natural resource sector for the purposes of capital appreciation and real wealth preservation. SRC is well positioned to draw upon the considerable experience and expertise of both its Board of Directors and Sprott Consulting Limited Partnership (SCLP), of which Sprott Asset Management Inc. is the sole limited partner. Pursuant to a management services agreement between SCLP and SRC, SCLP provides day-to-day business management for SRC as well as other management and administrative services.
Forward Looking Statements
Certain statements regarding SRC, including management's assessment of future plans, may constitute forward-looking statements under applicable securities laws and necessarily involve risk. SRC's actual results or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. No assurance can be given that any events anticipated by the forward-looking statements will occur. These forward-looking statements, which are based on management's current expectations, are made as at the date of this news release. SRC does not undertake any obligation to publicly update or revise any of these forward-looking statements, except as required by applicable securities laws.
For further information: Kevin Bambrough, President and CEO, Tel: (416) 977-7333, Fax: (416) 977-9555
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Sprott Resources Corp.
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EXPLORATION STAGE |
CODE : SCP.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Sprott Resources is based in Canada. Sprott Resources holds various exploration projects in Chile. Its main exploration properties are GOLD COIN, PRODUCTORA, MARKHAM WASH and MONITOR in Chile. Sprott Resources is listed in Canada. Its market capitalisation is CA$ 58.0 millions as of today (US$ 44.3 millions, € 41.6 millions). Its stock quote reached its highest recent level on October 25, 1996 at CA$ 96.38, and its lowest recent point on January 29, 2016 at CA$ 0.36. Sprott Resources has 96 670 000 shares outstanding. |