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Sprott Molybdenum Participation Corporation To Trade On Toronto Stock Exchange April 12, 2007
ORIGINAL LISTING
Sprott Molybdenum Participation Corporation (the “Company”) – An application has been granted for the original listing in the Industrial category of 61,475,520 common shares of which 41,776,000 common shares will be issued and outstanding and 19,699,520 common shares will be reserved for issuance upon completion of an initial public offering (the “Offering”).
An application has also been granted for the listing of 18,900,000 common share purchase warrants (the “Warrants”), all of which will be issued and outstanding upon completion of the Offering.
Listing of the common shares and Warrants will become effective at 5:01 p.m. on Friday, April 13, 2007 in anticipation of the Offering closing on Monday, April 16, 2007. The common shares and Warrants will be posted for trading at the opening on Monday, April 16, 2007.
Registration of interests in and transfers of the common shares and Warrants will be made only through the book-entry system of CDS Clearing and Depository Services Inc. (“CDS”). The common shares and Warrants must be purchased, transferred and surrendered for retraction through a participant in the CDS book-entry system. Purchasers of common shares and Warrants will not have the right to receive physical certificates evidencing their ownership of such securities.
Additional information is contained in the Company’s prospectus dated April 4, 2007, (the “Prospectus”) which is available at www.SEDAR.com
Common Shares Symbol: MLY CUSIP: 852067 10 7 Trading Currency: CDN
Warrants Symbol: MLY.WT CUSIP: 852067 11 5 Trading Currency: CDN
Temporary Market Maker: GMP Securities L.P.
Other Markets: None
Head Office: Suite 2700 South Tower, Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J1
Head Office Telephone Number: (416) 362-7172
Fax Number: (416) 362-4928
Toll Free: 1-888-362-7172
E-mail: invest@sprott.com
Website: www.sprottmoly.com
Investor Relations: Iryna Gordiyenko Chief Financial Officer Tel: (416) 943-6477 Email: igordiyenko@sprott.com
Incorporation: The Company was incorporated under the Business Corporations Act (Ontario) by Articles of Incorporation dated December 6, 2006. Pursuant to Articles of Amendment dated February 20, 2007, the Company changed its name from ‘‘2121196 Ontario Ltd.’’ to ‘‘Sprott Molybdenum Participation Corporation’’ and removed the private company restrictions applicable to the Company.
Fiscal Year End: December 31
Nature of Business: The primary investment objective of the Company is to achieve capital appreciation by investing in securities of private and public companies that explore for, mine and/or process molybdenum (the “Portfolio Investments”) and by investing in, holding, selling and otherwise transacting in all commercial forms of molybdenum (“Physical Molybdenum”, and together with the “Portfolio Investments”, the “Molybdenum Assets”). The Company will use substantially all of the net proceeds of the Offering to acquire the Molybdenum Assets.
Manager: Sprott Asset Management Inc.
Chief Financial Officer & Corporate Secretary: Iryna Gordiyenko Transfer Agent & Equity Transfer & Trust Company at its principal office in Registrar: Toronto.
Dividends: The Company has not paid any dividends on its outstanding common shares. The Board of Directors from time to time, and on the basis of any earnings, the Company’s financial requirements and any other relevant factor, may consider paying dividends in the Future if operational circumstances of the Company permit, including earnings, cash flow, financial and legal requirements and business considerations.
Initial Public Offering: Pursuant to the Prospectus, GMP Securities L.P., Canaccord Capital Corporation, Cormark Securities Inc., Fort House Inc., TD Securities Inc. and Dundee Securities Corporation, as the Agents are offering 36,000,000 units at a price of $5.00 per unit. Each unit consists of one common share in the capital of the Company and one-half of one Warrant. Each whole Warrant will entitle the holder to acquire one additional common share of the Company at an exercise price of $7.50 per share at any time on or prior to the close of business on the date that is 24 months from the closing of the Offering, after which time the Warrants will be null and void.
Page Last Updated: April 12, 2007
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