TORONTO, ONTARIO--(Marketwire -04/12/12)- Sprott Resource Lending Corp. (TSX: SIL.TO - News)(AMEX: SILU - News) (the "Company" or "Sprott Resource Lending") today reports that the Board of Directors approved a first quarter dividend of $0.015 per common share, which it notes is supported by cash flows of its resource loan portfolio. All figures are in Canadian dollars except where noted.
As of March 31, 2012, Sprott Resource Lending had a resource loan portfolio of approximately $103 million, and held $104 million in cash and marketable investments.
Peter Grosskopf, President and Chief Executive Officer commented, "With the continued market weakness in the equities for junior resource companies, we are now experiencing a noticeable pick up in origination activity and in our deal pipeline."
The Board of Directors has approved the payment of a quarterly dividend of $0.015 per common share. The dividend of $0.015 per common share is for payment on May 10, 2012 to shareholders of record on April 24, 2012. The Company hereby notifies its shareholders that it will designate the full amount of such dividend as an "eligible dividend" for purposes of the Income Tax Act (Canada).
About Sprott Resource Lending Corp.
Sprott Resource Lending 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 partnership agreement, Sprott Lending Consulting Limited Partnership provides Sprott Resource Lending (www.sprottlending.com) day to day business management as well as other management and administrative services. Sprott Lending Consulting LP is a wholly owned subsidiary of Sprott Inc., the parent of Sprott Asset Management LP (www.sprott.com), a leading Canadian independent money manager.
For more information about Sprott Resource Lending, please visit SEDAR (www.sedar.com).
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