TORONTO, ONTARIO--(Marketwired - Nov. 18, 2016) - Arthur Richards Rule IV announces that on November 15, 2016, he sold (indirectly through Exploration Capital Partners 1998-B Limited Partnership ("Explo 1998-B")), through the facilities of the Toronto Stock Exchange, 221,500 common shares (the "Shares") of Sprott Inc. (the "Company") at a price of $2.2142 per Share for total consideration of $490,445.30, which represents approximately 0.09% of the outstanding Shares of the Company.
Prior to this sale, Mr. Rule beneficially owned and/or controlled or directed 24,857,984 Shares, representing approximately 10.0% of the currently outstanding Shares of the Company. After giving effect to the sale and his subsequent disposition of 122,460 Shares of the Company through Explo 1998-B, Mr. Rule now beneficially owns and/or controls or directs 24,514,024 Shares, representing approximately 9.9% of the outstanding Shares of the Company (or 24,587,227 Shares, representing approximately 9.9% of the outstanding Shares on a non-diluted basis counting the 73,203 Shares held by the Acquiror which do not begin vesting until January 16, 2017).
The Shares were sold as a result of the wind up of Explo 1998-B. Depending on market conditions, general economic and industry conditions, the Company's business and financial condition and/or other relevant factors, Mr. Rule may, from time to time in the future, increase or decrease ownership or control or direction over Shares or other securities of the Company through market transactions, private agreement or otherwise. Mr. Rule currently has no plans or intentions to acquire or dispose any other Shares.
The Company is located at Suite 2700, 200 Bay Street, Royal Bank Plaza, South Tower, Toronto, Ontario, M5J 2J1. A copy of Mr. Rule's early warning report will appear on the Company's profile on SEDAR at www.sedar.com and may also be obtained by calling 1-866-531-8746.