Press release from CNW Group
SPROTT INC. ANNOUNCES INDIRECT ACQUISITION OF CONTROL OF COMMON SHARES OF KIRKCALDY CAPITAL CORP. THROUGH RESOURCE CAPITAL INVESTMENTS CORP.
Friday, April 29, 2011
TORONTO, April 29 /CNW/ - In connection with its previously announced acquisition of all of the outstanding stock of Global Resource Investments Ltd., Terra Resource Investment Management Inc. and Resource Capital Investments Corp., Sprott Inc. (TSX: SII) ("Sprott") acquired indirect direction or control over 4,000,000 common shares ("Shares") of Kirkcaldy Capital Corp. ("Kirkcaldy Capital") representing 61.54% of the outstanding common shares of Kirkcaldy Capital. Kirkcaldy Capital is a capital pool corporation (TSXV: KRKP).
Resource Capital Investments Corp. (RCIC) is the general partner for six limited partnerships including Exploration Capital Partners 2006 Limited Partnership ("Exploration Capital"). On October 27, 2010, Exploration Capital acquired the Shares. On January 25, 2011, Kirkcaldy Capital became a reporting issuer in the Provinces of British Columbia, Alberta and Ontario.
The Shares were acquired in October 2010 and are held by Exploration Capital for investment purposes and it may increase or decrease its investment in Kirkcaldy Capital depending on market conditions or any other relevant factors.
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