Sprott Asset Management LP

Sprott Asset Management LP
Canadian Athletes Now Fund

Canadian Athletes Now Fund

March 02, 2010 12:09 ET

Golden Moment for Canadian Elite Athletes as Sprott Donates $1.4 Million to Match Record Medal Haul

Canadian investment firm builds on success of Canadian elite athletes by donating $100,000 to CAN Fund for each gold medal won at Vancouver Olympic Games.

TORONTO, ONTARIO--(Marketwire - March 2, 2010) - Celebrating the success of Canada's record 14 gold medals – the most ever won by a winter Olympic host country - Sprott Asset Management LP and the Sprott Foundation will donate $1.4 million to the CAN Fund (Canadian Athletes Now Fund).

CEO Eric Sprott announced support for Canadian athletes just ahead of the Vancouver games with a unique pledge, the Sprott Canadian Gold Metal Celebration. Each time a gold medal was won in Vancouver, Sprott Asset Management LP, in conjunction with The Sprott Foundation agreed to donate $100,000 to the Canadian Athletes Now Fund (CAN Fund), a not-for-profit organization devoted solely to raising funds and awareness of Canadian athletes. 

"Like all of Canada, I was electrified by the exceptional performance of so many of our Canadian athletes during the Vancouver games," said Sprott. "But it's the massive outpouring of pride Canadians are exhibiting towards our athletes that we wanted to capture with the Gold Metal Celebration. Nothing unites a Nation like sport."

Sprott says that it's important to capture that energy in the first few weeks after the games and to "pay it forward" to find a way to sustain the funding required for athletes to compete at a global level and ensure future golden moments.

"The stories of perseverance and commitment required to reach the podium are often the most compelling stories of our athletes and it's critical that both Bay St. and main street Canada find ways to continue to support our athletes between games," said Sprott. "The CAN Fund is a great way to ensure that happens."

CAN Fund directly supported 80 per cent of the 2010 Canadian Winter Olympic team (excluding men's hockey), thanks in part to an initial donation from Sprott of $210,000, which brings the grand total to over $1.6 million in donations from Sprott.

"CAN Fund is tremendously appreciative of the support of Eric Sprott, and Sprott Asset Management," says Jane Roos, Founder of CAN Fund. "As the glow of a wonderfully successful games fades, the athletes immediately return to training and competing, and if we can capture the pride we all felt in the success of our athletes and use that to fuel future funding, we can truly look back at these games on our home soil as being a turning point for our athletes' future ability to compete on the world stage."

A website for the Sprott Canadian Gold Metal Celebration - www.sprottgoldpledge.com - encouraged others to join in celebrating and raised over $100,000 through donations from fellow corporate donors as well as individual Canadians. The website will be available for ongoing donations until April 1, 2010. 

About Sprott Asset Management LP

Sprott Asset Management LP (SAM) is one of Canada's premier investment firms. Founded in 2000, SAM is widely acknowledged for its investment acumen and dedication to generating consistent long-term returns for its investors. The company boasts a unique collection of award-winning portfolio managers who are all experts in their respective investment styles. The SAM investment team currently manages nine mutual funds and three hedge fund strategies, with each manager leading their own respective strategy and mandate. The common shares of SAM's parent company, Sprott Inc., are listed on the Toronto Stock Exchange under the symbol "SII".

About CAN Fund Canadian Athletes Now Fund

CAN Fund is a not for profit organization devoted solely to raising funds and awareness of our Canadian athletes. We have created a vehicle that connects Canadians directly to our athlete's journey and their success. CAN Fund is the only organization in Canada that with each donation, you find out the name of the athlete you have directly supported and receive a tax receipt. We provide our athletes with the opportunity to focus on success instead of focusing on unnecessary financial hurdles. Donations go directly to Canadian athletes to support their training, coaching, nutrition, team fees, travel and basic living expenses.

Contact Information

  • Sprott
    Ida Khajadourian
    416 943-6449
    Maverick Public Relations
    Julie Rusciolelli/Kelly Olive
    416-640-5525 ext. 222 or ext. 230
    CAN Fund
    Jane Roos
    416 487-4442