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Sprott Resources Corp Profile

Corporate Profile

Sprott Resource Corp. (SRC) is a corporation involved in the acquisition of interests in the resource sector, including minerals, oil and gas, water, forestry and agriculture. The investment objectives of SRC are to achieve capital appreciation and wealth protection for its shareholders through direct and indirect investments in the resource sector.

SRC was formerly known as General Minerals Corporation. The formal name change was effective August 31, 2007. Effective September 5, 2007, SRC entered into a management services agreement with Sprott Consulting Ltd. (SCL), a former subsidiary of Sprott Asset Management Inc. As part of entering into the management services agreement, Eric Sprott, Kevin Bambrough and John Embry were appointed directors of SRC. As well, Eric Sprott was appointed Chairman and Kevin Bambrough was appointed President and CEO of SRC. The management and the board of directors of SRC have extensive experience in the mining and investment sectors.

Pursuant to the terms of the management services agreement between SCL and the SRC, SCL was appointed by SRC to manage, or engage others to manage, the undertaking and affairs of SRC. In consideration for providing these services SRC agreed to pay SCL an annual services fee and an annual incentive fee, each determined in accordance with the terms of the management services agreement. SCL has assigned the management services agreement to Sprott Consulting LP as part of an integral reorganization involving Sprott Asset Management Inc. A copy of the management services agreement can be obtained by clicking here.

Last changed at 06-Jun-2008 05:18PM by sasa