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Additional Information
Market: TSX NYSE AMEX
Sector: Financial
EPIC: SIL
Latest Price: 1.55  (1.31% Ascending)
52-week High: 1.90
52-week Low: 1.25
Market Cap: 240.91M
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Sprott Resource Lending
www.sprottinc.com

Sprott Resource Lending is managed by Sprott Lending Consulting, a subsidiary of Sprott, Inc.

Full Sprott Resource Lending profile here
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Quest Capital Rebrands Itself As Sprott Resource Lending, Completes $25 million Private Placement

8th Sep 2010, 4:01 pm
Quest Capital Rebrands Itself As Sprott Resource Lending, Completes $25 million Private Placement

Sprott Resource Lending, formerly Quest Capital, announced it has successfully rebranded itself as Sprott Resource Lending.  The new company will stop originating real estate loans to focus on providing bridge and mezzanine loans to the natural resources sector. The new company will begin trading on the Toronto Stock Exchange and the AMEX under the symbols SIL and SILU, respectively, on September 10.


As part of the rebranding, Sprott, Inc (TSX:SII) and its subsidiaries, employees and clients invested a total of $25 million in Sprott Resource Lending through a private placement, controlling 10% of the company’s issued shares.

After the transaction, Sprott Resource Lending will be managed by Sprott Lending Consulting, a wholly-owned subsidiary of Sprott Inc.


Peter Grosskopf, the current CEO of Sprott Inc, will become the CEO of Sprott Resource Lending while Jim Grosdanis was re-appointed as CFO.


The combination of natural resource sector growth, global contraction in bank financing, low short-term interest rates and many resource companies trading at a discount to net asset values has created opportunities for Sprott Resource Lending to originate high quality loans with attractive spreads, the company said.


As of September 7, 2010, Sprott Resource Lending had approximately $100 million of cash to commit to resource lending.  The company is  also trying to monetize $160 million real estate loans on its balance sheet to free up cash. 


Toronto based Sprott operates in three business lines: discretionary portfolio management (Sprott Asset Management), broker-dealer services (Sprott Private Wealth), and consulting services (Sprott Consulting). As of December 31, 2009, it managed approximately CDN$4.8 billion in assets among its various funds and managed accounts.

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