11:49 AM EST - Sprott Inc. : announced the signing of a letter of intent reflecting an agreement in principle to acquire Toscana Capital Corporation and Toscana Energy Corporation. Upon closing of the proposed transaction, Sprott will pay approximately $14 million in cash and common shares of Sprott in consideration for the acquisition of the Toscana Companies, with the possibility of up to an additional approximately $5.25 million in common shares of Sprott to be issued as additional consideration in three years upon the attainment of certain financial performance hurdles. Sprott Inc.
shares T.SII are trading down $0.24 at $6.80.
