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BRIEF-Sprott enters agreement to acquire management of Central Fund of Canada
October 2, 2017 / 11:40 AM / 2 months ago

BRIEF-Sprott enters agreement to acquire management of Central Fund of Canada

Oct 2 (Reuters) - Sprott Inc:

* Sprott enters agreement to acquire management of Central Fund of Canada

* Sprott Inc - deal for ‍c$120 million in cash and stock​

* Sprott Inc - ‍sprott’s cash on hand will be used to finance cash portion of purchase price and approval of sprott shareholders is not required​

* Sprott Inc - ‍holders of about 85% of cfcl’s common shares entered agreements with co agreeing to vote all common shares in favour of transaction​

* Sprott - co will acquire common shares of cfcl and right to administer, manage CFCL’s assets for c$105 million in cash and c$15 million of Sprott common shares Source text for Eikon: Further company coverage:

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