Sprott Resource Corp. announces termination of option agreement with Paragon Minerals
Sprott Resource Corp. announced that it has elected to terminate its option agreement with Paragon Minerals Corporation concerning Paragon’s JBP-Appleton Linear Property. SRC entered into the Agreement in November 2007.
“We would like to thank Paragon for having involved us in the project,” said Kevin Bambrough, President and CEO of SRC. “Over the past year our company has experienced significant growth. Going forward, we intend to focus on more advanced projects with larger capital commitments.”
SRC is a Canadian based company, the primary purpose of which is to invest, directly and indirectly, in natural resources. Through acquisitions, joint ventures and other investments, SRC seeks to provide its shareholders with exposure to the natural resource sector for the purposes of capital appreciation and real wealth preservation. SRC is well positioned to draw upon the considerable experience and expertise of both its Board of Directors and Sprott Consulting Limited Partnership (SCLP), of which Sprott Asset Management Inc. is the sole limited partner. Pursuant to a management services agreement between SCLP and SRC, SCLP provides day-to-day business management for SRC as well as other management and administrative services.