/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ TORONTO, May 8 /CNW/ - Sprott Inc. (the "Company") is pleased to announce that it has filed a final prospectus with the regulatory authorities in each of the provinces and territories of Canada, in relation to its initial public offering by way of a secondary offering of common shares. Pursuant to the offering, certain shareholders of Sprott Inc. will sell 20,000,000 common shares at an offering price of $10.00 per share for aggregate proceeds of $200 million. In addition, certain of the selling shareholders have granted an over-allotment option to the underwriters to purchase up to an additional 3,000,000 common shares at the offering price, such option to expire 30 days following the date of closing. The offering is scheduled to close on May 15, 2008. The underwriting syndicate for the offering is being co-led by Cormark Securities Inc. and TD Securities Inc. and includes CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., Canaccord Capital Corporation, National Bank Financial Inc., Jennings Capital Inc., Paradigm Capital Inc. and Clarus Securities Inc. The Toronto Stock Exchange has conditionally approved the listing of the Company's common shares under the symbol "SII", subject to the Company fulfilling all of the requirements of the Toronto Stock Exchange. It is anticipated that trading in the common shares on the Toronto Stock Exchange will commence upon closing of the offering. Immediately prior to the closing of the offering, Sprott Inc. will acquire 100% of the outstanding shares of Sprott Asset Management Inc. ("SAM"). SAM is a leading independent asset manager with approximately $6.8 billion in assets under management. SAM is the manager of the Sprott Funds. No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been and will not be offered or sold in the United States or to, or for the account or benefit of, a "U.S. person", as such term is defined in Regulation S under the United States Securities Act of 1933, as amended. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States. Forward-Looking Statements This release contains "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 prospectus. 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 the Company and SAM believe to be reasonable assumptions, neither the Company nor SAM can 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 neither the Company nor SAM assumes any obligation to update or revise them to reflect new events or circumstances.
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