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Key Developments: Sprott Resource Corp (SCP.TO)

SCP.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Sprott Resource announces $200 mln private placement by Long Run Exploration
Tuesday, 4 Aug 2015 08:00am EDT 

Sprott Resource Corp:Announces agreement for $200 million private placement by Long Run Exploration Ltd.Agreement for a private placement of Long Run common shares to Maple Marathon investments limited.Says proceeds from the private placement will be used for debt reduction to improve Long run's capital structure.Says Long Run will issue to Maple Marathon 155 million units at an issue price of $1.30 per unit.  Full Article

Sprott Resource Corp to commence normal course issuer bid
Friday, 5 Sep 2014 07:00am EDT 

Sprott Resource Corp:Intends to commence a normal course issuer bid to repurchase up to 8.5 million of its common shares, representing about 8.83 pct of the public float of SRC and about 8.66 pct of the total number of issued and outstanding shares.  Full Article

Sprott Resource Corp announces launch of Independence Contract Drilling, Inc.'s initial public offering
Monday, 28 Jul 2014 10:00am EDT 

Sprott Resource Corp:Says investee company, Independence Contract Drilling, Inc, launches initial public offering of 10,000,000 shares of common stock.Shares are expected to trade on New York Stock Exchange under ticker symbol ICD.Underwriters of offering will have 30-day option to purchase up to additional 1,500,000 shares from Independence Contract Drilling to cover over-allotments, if any.Morgan Stanley, RBC Capital Markets and Tudor, Pickering, Holt & Co. are acting as book-running managers for offering.Canaccord Genuity, Capital One Securities, Cowen and Company, FBR, IBERIA Capital Partners L.L.C. and Johnson Rice & Company L.L.C. are acting as co-managers.  Full Article

Sprott Resource Corp announces investment in Corsa Coal Corp
Tuesday, 15 Jul 2014 09:33am EDT 

Sprott Resource Corp:Enters into agreement to invest $33.4 mln for 19.9 pct of outstanding shares of Corsa Coal Corp. (Corsa).SRC has agreed to purchase 236,963,302 Corsa shares, at price of C$0.15 per share, upon completion of Corsa's $60 mln acquisition of metallurgical coal producer PBS Coals Ltd.  Full Article

Sprott Resource Corp announces filing of registration statement for initial public offering by independence contract drilling, inc
Thursday, 19 Jun 2014 06:11pm EDT 

Sprott Resource Corp:Says its investee company, Independence Contract Drilling, Inc. (ICD), has filed registration statement on Form S-1 with U.S. Securities and Exchange Commission for possible initial public offering of shares of common stock.Proposed offering is expected to commence subject to review process of Commission, and subject to market and other conditions.Morgan Stanley and Barclays will act as the joint book-running managers for the proposed offering.  Full Article

Sprott Resource Corp and Long Run Exploration Ltd. close $67.7 mln secondary offering of common shares
Wednesday, 21 May 2014 08:13am EDT 

Sprott Resource Corp:Announces completion of a secondary offering of 12,654,635 common shares of Long Run by SRC at a price of $5.35 per common share.Gross proceeds of $67,702,297 to SRC.Long Run will not receive any proceeds from the offering.Previously announced offering was completed on a bought deal basis by an underwriting syndicate co-led by National Bank Financial Inc. and Cormark Securities Inc., and including GMP Securities L.P., TD Securities Inc., Canaccord Genuity Corp., Clarus Securities Inc. and Scotia Capital Inc.  Full Article

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