Sprott Inc. completes C$60 million secondary offering of common shares

Date closed: 15/7/2014

Value: C$60 million

On July 15, 2014, Sprott Inc. (Sprott or the Corporation) announced the completion of its previously announced secondary offering of common shares of the Corporation (the Shares) held by 2176423 Ontario Ltd., a company controlled by Eric Sprott (the Selling Shareholder). An aggregate of 20,000,000 Shares were sold to a syndicate of underwriters co-led by TD Securities Inc. and Scotia Capital Inc., and including RBC Dominion Securities Inc., CIBC World Markets Inc., GMP Securities L.P., Canaccord Genuity Corp., Cormark Securities Inc. and Desjardins Securities Inc., at a price of $3.00 per Share for gross proceeds of C$60,000,000.

The Corporation did not receive any proceeds from the Offering. The Selling Shareholder intends to use the proceeds from the Offering to invest in funds and securities managed by Sprott or its affiliates, with a focus on precious metals-related investments.

BLG represented the underwriting syndicate with a team led by Philippe Tardif that included Paul Simon, Ruth Liu, Liz Ng and Linda Tu (securities) and Danny Lang (tax).