Sprott raises initial $200 mln for private resource lending fund

Sprott Resource Lending Corp has raised $200 million in the initial close of its new Private Resource Lending LP. Sprott Resource, a subsidiary of Canadian asset manager Sprott Inc (TSX: SII), provides financing to mining and oil and gas companies. The firm’s recent deals include last year’s US$120 million secured loan facility for TMAC Resources Inc, a Toronto-based mineral exploration and development company. TMAC, which was private equity-backed, went public in August 2015.

PRESS RELEASE

Sprott Completes First Close of New Private Resource Lending LP

May 20, 2016

TORONTO, May 20, 2016 (GLOBE NEWSWIRE) — Sprott Inc. (“Sprott” or the “Company”) (TSX:SII) today announced that its Sprott Resource Lending Corp. business unit has completed the first closing of its new Private Resource Lending LP, raising approximately $200 million.

Sprott has retained Moelis & Company and OCP Capital, LLC as placement agents with respect to the Private Resource Lending LP.

Photo courtesy of Reuters