Sprott Resource completes $68 mln secondary sale of Long Run shares
Canadian private equity firm Sprott Resource Corp and portfolio company Long Run Exploration Ltd (TSX: LRE) have completed the previously announced secondary offering of 12.6 million common shares of Long Run by Sprott at a price of $5.35 per share. The offering generated gross proceeds of approximately $68 million, to be used by the firm for new investments. Sprott will retain minority ownership in the company. Based in Calgary, Long Run is an intermediate energy business focused on light-oil development and exploration.
22 May 2014•4 mins read
