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Monday, January 24, 2011

Sprott signs agreement with Rick Rule to buy US group, (TSE: SII)

Canadian fund manager Sprott Inc's (SII.TO) said it signed an agreement with Rick Rule and the Rule Family Trust to buy three U.S.-based resource investment companies as part of its expansion plans. The company, which had announced its plans to buy Global Resource Investments, Terra Resource Investment Management and Resource Capital Investments on Sept. 22 last year, said it expects the deal to close in February. [ID:nSGE68L0I5] Sprott's targets are led by Rick Rule, a U.S.-based investor specializing in mining and energy.

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