TORONTO and NEW YORK, Jan. 17, 2020 (GLOBE NEWSWIRE) -- Sprott Inc. (TSX: SII) (“Sprott”) announced today that it has successfully completed its previously announced acquisition by Sprott Asset Management LP (“SAM”) of Tocqueville Asset Management LP (“Tocqueville”) gold strategies for total consideration of up to US$50 million, comprised of a payment at closing of US$12.5 million in cash and US$2.5 million in Sprott common shares based on a five-day volume weighted adjusted price. Tocqueville is also eligible to receive contingent consideration valued at up to an additional US$30 million in cash and Sprott common shares valued at US$5 million, subject to the achievement of certain financial performance conditions over the two years following closing. This transaction adds approximately C$2.3 billion (US$1.8 billion) to Sprott’s total Assets Under Management (“AUM”).
Sprott Completes Acquisition of Tocqueville Gold Strategies and Provides Preliminary AUM Update
Jan 17, 2020
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