Sprott Power Consulting LP Announces Notice of Termination of Management Services Agreement with Sprott Power Corp.
January 29 2013 - 4:00PM
PR Newswire (Canada)
Sprott Power Consulting LP Announces Notice of Termination of
Management Services Agreement with Sprott Power Corp.
TORONTO, Jan. 29, 2013 /CNW/ - As announced by Sprott
Power Corp. ("SPC") yesterday, Sprott Power Consulting LP
("SPCLP"), a subsidiary of Sprott Inc. (TSX:SII), has received
notice from SPC that effective July 31,
2013 the management services agreement between SPC and SPCLP
(the "MSA") will be terminated. In addition, effective
yesterday, Jeff Jenner is no longer
an employee of SPCLP. Mr. Jenner was formerly the Chief
Executive Officer of SPCLP.
As a result of Mr. Jenner no longer being
employed by SPCLP, SPCLP has no nominees sitting on SPC's board of
directors (the "SPC Board") and SPCLP is no longer involved in
SPC's strategic decision making process.
Pursuant to the MSA, SPCLP has notified the SPC
Board that SPC must remove the name "Sprott" from its name
forthwith.
SOURCE Sprott Inc.
Copyright 2013 Canada NewsWire
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