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Gold/Mining/Energy : Sprott Resource Corp (SCP.TO)

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To: TheSlowLane who wrote (51)	3/17/2010 12:41:19 AM
From: Claude Cormier	Read Replies (3) of 247

Tuesday March 16 2010 - News Release SPROTT RESOURCE CORP. ANNOUNCES INITIAL PUBLIC OFFERING BY STONEGATE AGRICOM LTD. Sprott Resource Corp.'s Stonegate Agricom Ltd., approximately 73 per cent owned by Sprott has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada, other than Quebec, in respect of an initial public offering of units of Stonegate. Each unit will consist of one common share of Stonegate and one-half of one common share purchase warrant. The number of units offered and the price per unit, as well as the terms of the common share purchase warrants, will be determined in the context of the market prior to the filing of the final prospectus. The offering is being made through a syndicate of underwriters. Stonegate intends to use the proceeds from the offering to explore and develop Stonegate's Mantaro phosphate project in Peru and Stonegate's Paris Hills phosphate project in Idaho, and for general corporate and working capital purposes.

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