Sprott Completes acquisition of Flatiron Capital Management
02 August 2012 - 9:00PM
PR Newswire (Canada)
TORONTO, Aug. 2, 2012 /CNW/ - Sprott Inc. ("Sprott") today
announced it has completed the acquisition of Flatiron Capital
Management Partners ("Flatiron"), an alternative investment manager
specializing in market-neutral strategies. As at the date hereof,
Flatiron has approximately $260 million in assets under management
("AUM"). "We are pleased to further enhance our investment
capabilities with the addition of one of Canada's leading
convertible bond arbitrage teams," said Peter Grosskopf, Chief
Executive Officer of Sprott. "The acquisition of Flatiron provides
us with new investment capabilities and allows us to introduce
specialty income strategies designed to deliver consistent returns
to investors, while also providing them with important downside
protection." Sprott recently launched the Sprott Flatiron Yield
Trust, an investment vehicle designed to generate positive monthly
returns by focusing primarily on Canadian convertible arbitrage.
About Flatiron Capital Management Partners Flatiron is an Exempt
Market Dealer, Portfolio Manager and Investment Fund Manager
registered with the Ontario Securities Commission. Flatiron manages
funds for individuals and institutions. 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. Sprott Inc. is
headquartered in Toronto, Canada, and its common shares are listed
on the Toronto Stock Exchange under the symbol "SII". For more
information on Sprott Inc., please visit www.sprottinc.com.
Forward-Looking Statements This release contains "forward-looking
statements" which reflect the current expectations of Sprott
Inc. These statements reflect management's current beliefs
with respect to future events and are based on information
currently available to management. Forward-looking statements in
this press release include, but are not limited to, statements with
respect to the benefits from the transaction. Forward-looking
statements involve significant known and unknown risks,
uncertainties and assumptions, including with respect to the
anticipated benefits from the transaction. 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 Sprott's annual information form dated March 27, 2012.
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. Although the forward-looking
statements contained in this release are based upon what Sprott
believes to be reasonable assumptions, management cannot assure
investors that actual results, performance or achievements will be
consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this release
and Sprott does not assume any obligation to update or revise them
to reflect new events or circumstances, except as required by law.
Sprott Hedge Funds are offered on a private placement basis
pursuant to an offering memorandum and are only available to
investors who meet certain eligibility or minimum purchase amount
requirements under applicable securities legislation. The offering
memorandum contains important information about the Funds,
including their investment objective and strategies, purchase
options, applicable management fees, performance fees, other
charges and expenses, and should be read carefully before
investing. Please contact your own personal advisor on your
particular circumstance. This communication does not constitute an
offer to sell or solicitation to purchase securities of the Fund.
The information contained herein does not constitute an offer or
solicitation by anyone in the United States or in any other
jurisdiction in which such an offer or solicitation is not
authorized or to any person to whom it is unlawful to make such an
offer or solicitation. Prospective investors who are not resident
in Canada should contact their financial advisor to determine
whether securities of the Fund may be lawfully sold in their
jurisdiction. Sprott Inc. CONTACT: Glen WilliamsDirector of
CommunicationsSprott Inc.(416) 943-4394gwilliams@sprott.com
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