Sprott (TSX:SII)
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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