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BRIEF-Sprott Resource and Adriana Resources announce proposed business combination and concurrent $15 million private placement

Nov 29 Sprott Resource Corp :

* Sprott Resource and Adriana Resources announce proposed business combination and concurrent $15 million private placement

* Holders of common shares of SRC would receive 3.0 ADI common shares per common share of SRC

* Under arrangement, SRC would become a wholly-owned subsidiary of ADI

* Board of Directors of SRH will include current members of Board of Directors of SRC

* Subsequent to completion of arrangement, SRH intends to transition from a private equity firm to a diversified holding company

* Transaction is immediately accretive to NAV per ADI common share

* ADI will retain ownership of existing interest in Lac Otelnuk Project

* SRC, ADI expect private placements will be priced at a premium of about 50% to November 28, 2016 closing price of SRC common shares Source text for Eikon: Further company coverage:

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