Sprott Resource Holdings Press Releases


Press Release

Sprott Resource Holdings Inc. Announces Holdings in Virginia Energy Resources Inc.


TORONTO, June 21, 2019 (GLOBE NEWSWIRE) -- Sprott Resource Holdings Inc. (“SRHI”) announces that it beneficially owns and controls, indirectly 8,143,815 common shares (“Shares”) of Virginia Energy Resources Inc., representing approximately 14.2% of the outstanding Shares on a non-diluted basis. This press release is being issued pursuant to Canadian early warning requirements because the disposition of shares, as described below, has resulted in SRHI’s beneficial holdings of Shares to decrease by more than 2% of the outstanding Shares (as calculated pursuant to the early warning requirements).

From June 18, 2019 to June 20, 2019, Sprott Resource Corp., a wholly-owned subsidiary of SRHI, disposed of an aggregate of 1,301,000 Shares over the TSX Venture Exchange at an average price of $0.124 per Share ($161,586 total), representing approximately 2.3% of the outstanding Shares. Prior to this disposition, SRHI beneficially owned and controlled, indirectly, 9,444,815 Shares, representing approximately 16.5% of the outstanding Shares on a non-diluted basis.

The Shares were disposed of pursuant to SRHI’s previously announced efforts on divestment strategies for its non-core assets. SRHI has a short-term view of the investment and may sell further Shares including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Depending on market conditions, general economic and industry conditions, Virginia Energy Resources Inc.’s or SRHI’s business and financial condition and/or other relevant factors, SRHI may develop and revise its plans or intentions in the future, which could include a determination to hold its remaining investment in Virginia Energy Resources Inc. or acquire further Shares.  

Virginia Energy Resources Inc. is located at 1021 West Hastings Street, Suite 605, Vancouver, British Columbia V6E 0C3. A copy of SRHI’s early warning report will appear on Virginia Energy’s profile on SEDAR at www.sedar.com and may also be obtained by contacting SRHI.

Sprott Resource Corp. (c/o Sprott Resource Holdings Inc.)
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1

About Sprott Resource Holdings Inc.

SRHI acquires and grows a portfolio of cash-flowing businesses and businesses expected to cash flow in the natural resource sector. Based in Toronto, SRHI is part of the Sprott Group of Companies and seeks to deploy capital to provide our investors with exposure to attractive commodities. For more information about SRHI, please visit www.sprottresource.com.

For further information:

Glen Williams
Managing Director, Investor Relations
T: (416) 943-4394
E: gwilliams@sprott.com

Sprott uses cookies to understand how you use our website and to improve your experience. This includes personalizing content on our website and third-party websites. To learn more and to manage your advertising preferences, see our Cookie Policy


Important Message

You are now leaving Sprott.com and entering a linked website. Sprott has partnered with ALPS in offering Sprott ETFs. For fact sheets, marketing materials, prospectuses, performance, expense information and other details about the ETFs, you will be directed to the ALPS/Sprott website at SprottETFs.com.

Continue to Sprott Exchange Traded Funds

Important Message

You are now leaving Sprott.com and entering a linked website. Sprott Asset Management is a sub-advisor for several mutual funds on behalf of Ninepoint Partners. For details on these funds, you will be directed to the Ninepoint Partners website at ninepoint.com.

Continue to Ninepoint Partners

Important Message

You are now leaving sprott.com and linking to a third-party website. Sprott assumes no liability for the content of this linked site and the material it presents, including without limitation, the accuracy, subject matter, quality or timeliness of the content. The fact that this link has been provided does not constitute an endorsement, authorization, sponsorship by or affiliation with Sprott with respect to the linked site or the material.