Sprott Resource Corp. Announces Holdings in Potash Ridge Corporation
Published : December 05, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   K Street | Market | Market Conditions |

Sprott Resource Corp. Announces Holdings in Potash Ridge Corporation

TORONTO, Dec. 5, 2012 /CNW/ - Sprott Resource Corp. (TSX: SCP) - Sprott Resource Corp. ("SRC") announced today that, through Sprott Resource Partnership ("SRP"), it holds 16,144,746 common shares of Potash Ridge Corporation ("Potash Ridge"), which based on information contained in documents publically filed by Potash Ridge, represents approximately 19.9% of the total issued and outstanding common shares of Potash Ridge (the "Potash Shares").

Pursuant to Potash Ridge's previously announced initial public offering (the "Offering"), which closed on December 5, 2012, SRP acquired 2,944,746 Potash Shares at a purchase price of $1.00 per Potash Share (the "Offering Price").  Prior to the Offering, SRP owned 13,200,000 Potash Shares at an average purchase price of $0.52 per Potash Share.

Concurrent with the closing of the Offering, SRC, through SRP, purchased 5,055,254 units of Potash Ridge at a price of $1.00 per unit pursuant to a subscription agreement dated November 27, 2012.  Each unit consists of one non-voting share in the capital of Potash Ridge (the "Potash Non-Voting Shares") and one warrant (the "Potash Warrants") to acquire one Potash Non-Voting Share exercisable at a price equal to the Offering Price for a period of two years following the closing of the Offering.   The Potash Non-Voting Shares are convertible into Potash Shares on a one-for-one basis under certain circumstances, however the terms of the Potash Non-Voting Shares do not allow SRP to own more than 19.9% of the Potash Shares upon conversion. According to information contained in documents publically filed by Potash Ridge, the Potash Non-Voting Shares and Potash Warrants acquired by SRP represent 100% of such issued and outstanding securities.

SRP acquired the Potash Shares, the Potash Non-Voting Shares and the Potash Warrants for investment purposes. SRP may purchase or sell securities of Potash in the future on the open market, in private transactions or otherwise, depending on market conditions and other factors material to the investment decisions of SRP.

About Sprott Resource Corp.

SRC is a Canadian-based company, the primary purpose of which is to invest and operate 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 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.  SRC invests and operates through SRP, a partnership between SRC and Sprott Resource Consulting Limited Partnership, an affiliate of SCLP which is the managing partner of SRP.

Forward-looking information and statements

Certain statements contained herein may constitute "forward-looking statements" or "forward looking information" under applicable securities laws. Some of the forward-looking statements may be identified by words such as "expects", "intends", "anticipates", "should", "believes", "plans", and similar expressions. Forward-looking statements, which are based on management's current expectations and assumptions, including statements with respect to SRC's and SRP's future intentions regarding the purchase or sale of securities of Potash Ridge, involve a number of risks and uncertainties. Actual results or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause actual results to differ from those expressed in, or implied by, these forward-looking statements include, without limitation, market conditions and other factors material to the investment decisions of SRC and SRP. No assurance can be given that any events anticipated by these forward-looking statements will occur. These forward-looking statements 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.

SOURCE: Sprott Resource Corp.

For further information:

Stephen Yuzpe
Chief Financial Officer
Sprott Resource Corp.
200 Bay Street, Suite 2750
Toronto, Ontario
M5J 2J2
Tel: (416) 977-7333
Fax: (416) 977-9555

Sprott Resources Corp.

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Sprott Resources is based in Canada.

Sprott Resources holds various exploration projects in Chile.

Its main exploration properties are GOLD COIN, PRODUCTORA, DRAGOON - NEW MEXICO 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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Financings of Sprott Resources Corp.
9/19/2011Sprott financing and activity update
8/31/2011Mountain Lake Arranges Financing with Sprott
3/20/2011Completion of $31 Million Financing by its Subsidiary One E...
1/5/2011Raises $67.1 Million through Exercise of Warrants
11/26/2008listing of warrants
Nominations of Sprott Resources Corp.
5/14/2008appoints new officers
Financials of Sprott Resources Corp.
11/14/2012Sprott Inc. announces 2012 third quarter results
3/29/2011Filing of Annual Financial Statements and AIF
11/12/2010 Third Quarter Results
11/13/2009Third Quarter 2009 Results
11/17/2008 announces strong third quarter 2008 results
Project news of Sprott Resources Corp.
1/13/2014Resource Corp. Provides Business Update
7/24/2013Resource Corp. Announces Holdings in Stonegate Agricom Ltd.
6/5/2013Resource Corp. Announces Results of its Annual Meeting of Sh...
4/29/2013Stonegate Agricom to Issue Common Shares to Sprott Resource ...
3/28/2013Resource Corp. Announces 2012 Annual Results
12/6/2012One Earth Farms Investor Call Now Available on Sprott Resour...
11/26/2012Sprott Resource Corp. Announces Block Purchase under Normal ...
11/20/2012Sprott Consulting and Sprott Resource Corp. celebrate milest...
11/20/2012Consulting and Sprott Resource Corp. celebrate milestones
11/15/2012Sprott Resource Corp. Announces Q3 2012 Results
11/2/2012Resource Corp. Completes Sale of its Subsidiary Waseca Energ...
9/29/2012Sprott Resource Corp. Announces Holdings in Virginia Energy ...
9/4/2012Sprott Resource Corp. Announces Sale of its Subsidiary Wasec...
8/10/2012Sprott Resource Corp. Announces Q2 2012 Results
6/8/2012Resource Corp. CEO Kevin Bambrough Presents at the ISG 2012 ...
3/5/2012Resource Corp. Announces US$50 Million Investment
3/5/2012Sprott Resource Corp. Announces US$50
2/1/2012Resource Corp. Announces that its Subsidiary, One Earth Farm...
12/19/2011Resource Corp. Announces 2012 Capital Expenditure Program an...
12/19/2011Resource Corp. announces that WestFire Energy Ltd. initiated...
10/3/2011Resource Corp. Announces Completion of Corporate Reorganizat...
9/19/2011Resource Corp. Announces Holdings in Galleon Energy Inc.
8/30/2011Resource Corp. Announces Normal Course Issuer Bid
5/12/2011Resource Corp. Announces Strategic Merger between its Subsid...
4/6/2011Resource Corp. Announces Exercise of Over-Allotment Option i...
3/12/2010Files Updated NI 43-101 Compliant Technical Report on Mantar...
8/29/2008completion and filing of technical report for Mantaro Phosph...
Corporate news of Sprott Resources Corp.
11/8/2016Resource Corp. Announces Holdings in InPlay Oil Corp.
11/3/2015Edited Transcript of SCP.TO earnings conference call or pres...
11/2/2015Sprott Resource Corp. Announces 2015 Third Quarter Results
10/29/2015Sprott Resource Corp. Announces Date for 2015 Third Quarter ...
9/4/2015Sprott Resource Corp. Announces Normal Course Issuer Bid
8/4/2015Sprott Resource Corp. Announces Agreement for $200 Million P...
7/28/2015Edited Transcript of SCP.TO earnings conference call or pres...
7/27/2015Sprott Resource Corp. Announces 2015 Second Quarter Results
7/21/2015Sprott Resource Corp. Announces Date for 2015 Second Quarter...
6/22/2015Sprott Resource Corp. Announces Results of Its Annual Meetin...
5/12/2015Sprott Resource Corp. Announces 2015 First Quarter Results
5/7/2015Sprott Resource Corp. Announces Date for 2015 First Quarter ...
3/20/2015Stonegate Agricom Receives Subscription Agreements from Exis...
3/4/2015Sprott Resource Corp. Announces 2014 Annual Results
2/27/2015Stonegate Agricom Announces Private Placement Financing with...
2/26/2015Sprott Resource Corp. Announces Date for 2014 Annual Results...
2/26/2015Resource Corp. Announces Date for 2014 Annual Results Confer...
11/13/2014Sprott Resource Corp. Announces 2014 Third Quarter Results
11/10/2014Sprott Resource Corp. announces date for 2014 third quarter ...
11/10/2014Resource Corp. announces date for 2014 third quarter confere...
9/5/2014Sprott Resource Corp. announces normal course issuer bid
8/20/2014Sprott Resource Corp. Announces Closing of Corsa Coal Corp.'...
8/20/2014Corsa Announces Completion of Acquisition of PBS Coals
8/11/2014Sprott Resource Corp. Announces 2014 Second Quarter Results
8/8/2014Sprott Resource Corp. Announces Pricing of Independence Cont...
8/6/2014Sprott Resource Corp. announces date for 2014 second quarter...
8/6/2014Resource Corp. announces date for 2014 second quarter confer...
8/6/2014Resource Corp. announces date for 2014 second quarter confer...
8/6/2014Resource Corp. announces date for 2014 second quarter confer...
7/28/2014Resource Corp. Announces Launch of Independence Contract Dri...
7/28/2014Sprott Resource Corp. Announces Launch of Independence Contr...
7/15/2014IIROC Trade Resumption - SCP
7/15/2014Sprott Resource Corp. Announces US$33.4 Million Investment i...
7/15/2014IIROC Trading Halt - SCP
6/19/2014Sprott Resource Corp. Announces Filing of Registration State...
12/23/2013Season's Greetings
12/5/2013Resource Corp. Names New Chief Financial Officer
11/14/2013Resource Corp. Announces 2013 Third Quarter Results
8/14/2013Resource Corp. Announces 2013 Second Quarter Results
7/19/2013Resource Corp. Declares July Dividend
7/11/2013Contrarian Investing and the "Bernanke Put"
6/18/2013Resource Corp. Declares June Dividend
6/18/2013Kimber Extends Repayment of Debt to Sprott Resource Lending
5/21/2013Resource Corp. Declares May Dividend
5/13/2013Resource Corp. Announces 2013 First Quarter Results
4/18/2013Resource Corp. Declares April Dividend
3/18/2013Resource Corp. Declares March Dividend
2/25/2013Resource Corp. Announces Dividend Reinvestment Plan
2/19/2013Resource Corp. Announces Acquisition of Beretta Farms Inc. b...
2/15/2013Sprott Resource Corp. Declares February Dividend
2/15/2013Resource Corp. Declares February Dividend
1/29/2013Sprott Power Consulting LP Announces Notice of Termination o...
1/28/2013Resource Corp. Announces Holdings in Virginia Energy Resourc...
1/21/2013Sprott Resource Corp. Declares January Dividend
1/14/2013Sprott Resource Corp. Announces Joint Venture Between One Ea...
1/14/2013Resource Corp. Announces Joint Venture Between One Earth Oil...
1/10/2013Sprott Inc. Announces Preliminary 2012 Year End Assets Under...
12/21/2012Sprott Continues to Build Physical Bullion Franchise Through...
12/19/2012Resource Corp. Announces Variation of the Trading Parameters...
12/12/2012Sprott Resource Corp. Institutes Monthly Dividend
12/12/2012Resource Corp. Institutes Monthly Dividend
12/5/2012Resource Corp. Announces Holdings in Potash Ridge Corporatio...
12/5/2012Resource Corp. Announces Holdings in Potash Ridge Corporatio...
10/29/2012Resource Corp. Announces Holdings in Long Run Exploration Lt...
9/28/2012Resource Corp. Announces Holdings in Virginia Energy Resourc...
9/6/2012Sprott Physical Gold Trust Announces Follow-on Offering of T...
7/12/2012Stonegate Agricom Arranges $7.5 Million Loan Facility with S...
4/11/2012Resource Corp. 2011 Annual Report is Now Available Online
1/25/2012Eric Sprott article on Silver (Vancouver Sun Jan 24=2C 2012)
8/16/2011Resource Corp. Announces Second Quarter Results
7/1/2011Resource Corp. Announces Completion of Strategic Merger betw...
6/10/2011Resource Corp. Announces First Quarter Results
5/20/2011Sprotts US banking comments
5/2/2011Resource Corp. Announces Completion of the $3.9 Million Seco...
3/16/2011Sprott Group of Companies - March 2011
3/15/2011 Announces Closing of Secondary Offering of Common Shares in...
2/15/2011 Announces Secondary Offering of Common Shares in Stonegate ...
1/24/2011Announces 34% Increase in Proved + Probable Reserves of Orio...
12/16/2010 to Invest Additional $30 Million in One Earth Farms - Canad...
11/9/2010Resource Corp. Agrees to Acquire Stake in Private Uranium Co...
1/11/2010 Announces Completion of $20 Million Rights Offering by its ...
11/25/2009Former AFN National Chief Phil Fontaine joins Board of One E...
10/20/2009Closing of Acquisition of Auriga Energy Inc. by its Subsidia...
10/14/2009 Announces Letter Agreement for Business Combination Between...
9/28/2009 Agreement to Acquire Outstanding Shares of Auriga Energy In...
7/30/2009Stonegate Agricom Drill Results
3/4/2009Launch of One Earth Farms Corp.
3/3/2009Outstanding 2008 Results
12/15/2008current holdings of gold and silver bullion
12/12/2008termination of option agreement with Paragon Minerals
11/20/2008acquisition of additional shares of High Desert Gold Corpora...
11/19/2008acquisition of additional shares of Tournigan Energy Ltd.
11/6/2008completion of sale of PBS shares to Severstal
11/4/2008that 7027940 Canada Limited succeeds in bid for shares of PB...
10/2/2008 announces $27.17 million investment in Waseca Energy Inc.
9/24/2008completion sale of shares of PBS Coals Limited
9/5/2008Severstal's mailing of take-over bid circular to PBS sharhol...
8/26/2008 announces normal course issuer bid
8/22/2008signing of lock-up agreement in connection with proposed tak...
8/1/2008 Announces Sale of 17.05 Million Shares of PBS Coals Corpora...
7/16/2008pricing of PBS Coals Corporation offering
7/9/2008successful completion of warrant incentive program
6/30/2008investment in PBS Coals Corporation by The Talbot Group
6/24/2008approval of Warrant Incentive Program
6/17/2008PBS Coals has signed letter of intent to enter into business...
6/17/2008 announces extension of voting period for warrant exercise p...
6/13/2008 Signs Definitive Agreement to Purchase Mantaro Group's Inte...
5/15/2008 2008 Quarterly Report
5/13/2008seeks to accelerate warrant exercise
5/7/2008Additional US$24 Million Investment in PBS Coals Corporation
5/6/2008 and Altius form potash joint venture in Canada
4/30/2008Intention to Complete Buy Out of Mantaro Group's Interest in...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.600
02/10 15:58 0.020
Prev close Open
0.580 0.570
Low High
0.570 0.600
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.600 -%
Volume 1 month var.
204,280 -%
24hGold TrendPower© : 40
Explores for Gold
Interactive chart Add to compare
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 5.94-3.41%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.66+1.10%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.47-1.14%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.16+0.00%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.43-1.15%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.18+1.40%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 2.44-0.41%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.16-13.16%Trend Power :
Closes Bridge Loan Financing
CA$ 1.99+2.05%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.88+0.83%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.89+0.38%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.23-4.17%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.46-6.12%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.12-3.85%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 41.15-3.43%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.12+4.17%Trend Power :