Sprott Announces Pricing of Secondary Offering

TORONTO, ONTARIO--(Marketwired - June 21, 2017) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sprott Inc. ("Sprott" or the "Corporation") (TSX:SII) announced today the pricing of the secondary offering by 2176423 Ontario Ltd., a company controlled by Eric Sprott (the "Selling Shareholder"), of 18,700,000 common shares of the Corporation (the "Shares") at a price of $2.20 per Share (the "Issue Price") for gross proceeds of $41,140,000 (the "Secondary Offering"). In connection with the Secondary Offering, the Corporation has entered into an underwriting agreement (the "Underwriting Agreement") with the Selling Shareholder and a syndicate of underwriters led by TD Securities Inc. and including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., CIBC World Markets Inc., GMP Securities L.P., Scotia Capital Inc., Sprott Private Wealth LP and Desjardins Securities Inc. (collectively, the "Underwriters"), and will file a (final) short form prospectus (the "Final Prospectus") with the securities regulatory authorities in each of the provinces of Canada, other than Quebec.

Under the terms of the Underwriting Agreement, the Selling Shareholder has granted the Underwriters an over-allotment option to purchase up to an additional 2,800,000 Shares at the Issue Price, exercisable in whole or in part at any time for a period of up to 30 days following closing of the Secondary Offering, to cover over-allotments.

Concurrent with the Secondary Offering, the Selling Shareholder intends to enter into an agreement to sell, on a non-brokered private placement basis, 7,500,000 Shares at the Issue Price to the Corporation's Employee Profit Sharing Plan Trust (the "Private Placement"). The Corporation will not receive any proceeds from the Secondary Offering or the Private Placement. All proceeds will be payable to the Selling Shareholder. In addition, the Corporation intends to purchase approximately 5,000,000 Shares from the Selling Shareholder for cancellation (the "Exempt Issuer Bid").

The Secondary Offering is expected to close on or about June 29, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.

This news release is not an offer of securities for sale in the United States. The Shares being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.