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Stock Market & Financial Investment News

News Breaks
May 8, 2013
15:50 EDTSILUSprott Inc. announces acquisition of Sprott Resource Lending
Sprott Inc. and Sprott Resource Lending (SILU) announced that they have entered into a definitive agreement pursuant to which Sprott will acquire, by way of a court-approved plan of arrangement under the Canada Business Corporations Act, all of the issued and outstanding common shares of Sprott Resource Lending. Pursuant to the terms of the Arrangement Agreement, each Sprott Resource Lending shareholder, other than Sprott, will receive 0.5 of a Sprott common share and C$0.15 in cash for each Sprott Resource Lending common share held, implying an offer of C$1.65 per share based on Sprott's closing price on the Toronto Stock Exchange on May 7. The offer represents approximately a 20.4% premium to the company's 20-day volume weighted average price on the TSX for the period ending May 7, 2013 and a 11.5% premium to the company's closing price on the TSX on May 7.
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