Sprott Group of Companies Reaches $10 Billion in Assets Under Management
20 July 2011 - 9:28PM
PR Newswire (Canada)
TORONTO, July 20, 2011 /CNW/ -- TORONTO, July 20, 2011 /CNW/ -
Sprott Inc. (TSX: SII) ("Sprott") is pleased to announce that the
total assets under management ("AUM") of the Sprott Group of
Companies now exceed $10 billion. "We are proud to have reached
this milestone in the growth of our organization," said Eric
Sprott, Chairman of Sprott. "We thank our loyal clients for their
support. Our company was built on a commitment to delivering
them superior long-term investment performance and we will continue
to focus on growing and protecting their wealth." "On behalf of our
entire organization, I would like to thank our employees, the
financial advisor community, and our shareholders that have helped
us build our franchise. We intend to continue to invest in our
platform, our best-in-class investment managers and innovative
products as we grow to become a global alternative asset manager,"
said Peter Grosskopf, CEO of Sprott. Non-GAAP Financial Measures
This press release includes financial terms
(including Assets Under Management) that the Company
utilizes to assess the financial performance of its business that
are not measures recognized under Canadian generally accepted
accounting principles ("GAAP"). These non-GAAP measures should not
be considered alternatives to performance measures determined in
accordance with GAAP and may not be comparable to similar measures
presented by other issuers. For additional information regarding
the Company's use of non-GAAP measures, including the calculation
of these measures, please refer to the "Non-GAAP Financial
Measures" section of the Company's Management's Discussion and
Analysis and its financial statements available on the Company's
website at www.sprottinc.com and on SEDAR at www.sedar.com.
Forward-Looking Statements This release may contain
"forward-looking statements" which reflect the current expectations
of the Company. These statements reflect management's current
beliefs with respect to future events and are based on information
currently available to management. Forward-looking statements
involve significant known and unknown risks, uncertainties and
assumptions. Many factors could cause actual results, performance
or achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements including, without limitation,
those listed under the heading "Risk Factors" in the Company's
annual information form dated March 22, 2011. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results, performance or achievements could vary materially from
those expressed or implied by the forward-looking statements
contained in this release. These forward-looking statements are
made as of the date of this release and the Company does not assume
any obligation to update or revise them to reflect new events or
circumstances About Sprott Inc. Sprott Inc. is a leading
independent asset manager dedicated to achieving superior returns
for its clients over the long term. The Company currently operates
through four business units: Sprott Asset Management LP, Sprott
Private Wealth LP, Sprott Consulting LP, and Sprott U.S. Holdings
Inc. Sprott Asset Management is the investment manager of the
Sprott family of mutual funds and hedge funds and discretionary
managed accounts; Sprott Private Wealth provides wealth management
services to high net worth individuals; and Sprott Consulting
provides management, administrative and consulting services to
other companies, including Sprott Resource Corp. (TSX: SCP), Sprott
Resource Lending Corp. (TSX: SIL) (NYSE AMEX: SILU) and Sprott
Power Corp. (TSX: SPZ). Sprott U.S. Holdings Inc. includes Global
Resource Investments Ltd, Terra Resource Investment Management
Inc., and Resource Capital Investments Inc. Sprott Inc. is
headquartered in Toronto, Canada, and is listed on the Toronto
Stock Exchange under the symbol "SII". For more information on
Sprott Inc., please visit www.sprottinc.com. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/July2011/20/c6450.html p
bInvestor contact information:/b (416) 203-2310 or 1 (877) 403-2310
or a href="mailto:ir@sprott.com"ir@sprott.com/a. /p
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