Sprott Inc. and Sprott Resource Lending Corp. Close Plan of Arrangement

Sprott Inc. (Sprott) and Sprott Resource Lending Corp. (SRLC) announced that Sprott completed its previously announced acquisition of all of the outstanding common shares of SRLC pursuant to the terms of a court approved plan of arrangement resulting in SRLC becoming a wholly-owned subsidiary of Sprott. Under the terms of the arrangement, each SRLC shareholder (other than Sprott) was entitled to receive 0.5 of a Sprott common share and $0.15 in cash for each SRLC common share held.

Sprott is a leading independent asset manager dedicated to achieving superior returns for its clients over the long term. Sprott currently operates through four business units: Sprott Asset Management LP, Sprott Private Wealth LP, Sprott Consulting LP, and Sprott US Holdings Inc.

SRLC specializes in lending to resource companies on a global basis. Headquartered in Toronto, SRLC seeks to generate income from lending activities as well as the upside potential of bonus arrangements with borrowers generally tied to the underlying property or shares of the borrower.

Heenan Blaikie LLP acted as Canadian legal counsel to Sprott with a team led by Sonia Yung, which included Charles Mac-Cready, Kyler Wells, Grace Kim-Cho, Ora Wexler and Konrad Pola (M&A/securities); Peter Clark (tax); George Karayannides and Mark Hines (litigation); Jon Smithen and Gregory McLean (competition); and Ilia Danef, Neal Wang, Radha Das and Oana Chivaran (Corporate).

Seward & Kissel LLP acted as US legal counsel to Sprott with a team led by Anthony Tu-Sekine (capital markets and securities), which included Nick Katsanos (M&A), Jim Cofer (tax) and Angel Hall (blue sky).

Stikeman Elliott LLP acted as Canadian legal counsel to SRLC with a team that included Ivan Grbešic, Paul Rakowski and Steven Bennett (M&A); Dean Kraus and Jill Winton (tax); Ellen Snow (litigation); and Mike Kilby and Ashley Webber (competition).

Holland & Hart LLP was acting as US legal counsel to SRLC with a team that included Robert Bassett, Scott Berdan, Charles Cotter, Alison Johnson and Naomi Baez-Amos.