Sprott Resource Lending Corp. applies to extend date for annual and special meeting of shareholders

TORONTO, June 24, 2013 /CNW/ - Sprott Resource Lending Corp. (the "Company" or "Sprott Resource Lending") (TSX:SIL) (NYSE MKT:SILU) today applied to the Ontario Superior Court of Justice, Commercial List (the "Court") for an order pursuant to Section 133(3) of the Canada Business Corporations Act (the "CBCA") extending the time for Sprott Resource Lending to call its annual and special meeting of shareholders (the "Meeting"), which was originally scheduled to be held on June 25, 2013, to a date not later than July 23, 2013 (the "Order"). As noted in the Company's press release of June 20, 2013, the Meeting is being postponed pending the final clearance of regulatory comments from the United States Securities and Exchange Commission on the Company's May 31, 2013 Schedule 13E-3 going private transaction statement.

At the request of the Court, the matter was adjourned so that the Company could publicly provide notice of the application to its shareholders and to the director under the CBCA.  The application will now be heard tomorrow, June 25, 2013 at 9:30 a.m. at 330 University Avenue, Toronto, Ontario, in Courtroom 8-6 by the Honourable Justice David Brown.  Any interested person may attend in person and make submissions on the application.

In support of the application, the Company filed with the Court: a Notice of Application issued June 20, 2013; an Affidavit of James John Grosdanis, sworn June 20, 2013; the supplementary Affidavit of James John Grosdanis sworn June 24, 2013 and a form of Order. A copy of the Notice of Application is available on the Company's website at www.sprottlending.com and on SEDAR at www.sedar.com.

About Sprott Resource Lending Corp.

Sprott Resource Lending (www.sprottlending.com) specializes in lending to resource companies on a global basis. Headquartered in Toronto, the Company seeks to generate income from lending activities as well as the upside potential of bonus arrangements with borrowers generally tied to the underlying property or shares of the borrower. Pursuant to a management services agreement and a partnership agreement, Sprott Lending Consulting Limited Partnership ("SLCLP") provides Sprott Resource Lending day to day business management as well as other management and administrative services. SLCLP is a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com), the parent of Sprott Asset Management LP (www.sprott.com). For more information about Sprott Resource Lending, please visit SEDAR (www.sedar.com).

SOURCE: Sprott Resource Lending Corp.

Investor Contact Information:   

Sprott Resource Lending Corp.  
Narinder Nagra, President and COO
604-488-8719
or
Jim Grosdanis, CFO
416-943-4698