Sprott completes sale of Canadian diversified assets
Sprott Inc. (“Sprott” or the “Company”) (TSX:SII) announced today that it has successfully closed the previously announced sale of its Canadian diversified asset management contracts to a management led group.
“With the completion of this sale, Sprott is now focused on delivering investment excellence and building the leading global asset manager in our core natural resource areas,” said Peter Grosskopf, CEO of Sprott. “This transaction further strengthens our balance sheet and positions us well to support our existing client base while pursuing the addition of new strategies in synergistic areas.”
• A focused organization with deep and global expertise in precious metals, natural resources and real assets.
• Highly-scalable exchange listed products business
• Recently signed commitments for a new $750 million institutional Private Resource Lending LP
• Industry-leading precious metals and private resource investment teams
• A recently launched resource-focused merchant bank business
The second phase of the transaction, the sale of certain accounts managed by Sprott Private Wealth, is expected to close during the fourth quarter of 2017.
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, the Corporation is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Alternative Asset Management and Private Resource Investments. The Corporation also operates Merchant Banking and Brokerage businesses in both Canada and the US. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver and its common shares are listed on the Toronto Stock Exchange under the symbol (TSX:SII). For more information, please visit www.sprottinc.com.
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