09:59 AM EST - Sprott Resource Corp. : announced today that it has invested $50 million U.S. in Independence Contract Drilling, Inc. , a newly formed company that will provide land-based contract drilling services in the U.S. through a fleet of technologically advanced, newly constructed drill rigs. SRC's investment was part of a $100-million U.S. equity offering completed by ICD. After giving effect to the Offering and certain concurrent transactions, SRC owns approximately 31.6% (basic) of ICD's outstanding common shares. Sprott Resource Corp.
shares T.SCP are trading down $0.04 at $4.04.
