Press Release

SPR & Co LP Announces Changes to Its Fund Line-Up

TORONTO, Aug. 02, 2017 (GLOBE NEWSWIRE) -- SPR & Co LP today announced completion of the first phase of its acquisition of the Sprott Canadian diversified assets (the "SAM Transaction") in which Sprott Asset Management LP ("SAM") has transferred all of its interest in the management, advisory and other agreements relating to the investment funds listed in the attached Schedule "A" (the "Included Funds"). Security holders approved the appointment of SPR & Co LP as manager at special meetings held on June 30, 2017 and July 7, 2017. Regulatory approval was also obtained.  

Changes to Fund Line-Up and Portfolio Manager Assignments:

SPR & Co LP has been appointed investment fund manager and portfolio manager of the Included Funds and SAM has been appointed sub-adviser of certain of the Included Funds as noted on Schedule "A" pursuant to sub-advisory agreements entered into between SPR & Co LP and SAM. For those Included Funds not subject to a sub-advisory agreement other than those noted below, the individuals that were principally responsible for the management of those Included Funds prior to the completion of the SAM Transaction will continue to advise the funds as employees of SPR & Co LP.

Effective August 1, 2017, Jeff Sayer, supported by SPR & Co's investment team, will become principally responsible for the management of Sprott Global Infrastructure Fund, Sprott Global Real Estate Fund, Sprott Focused Global Dividend Class, Sprott Focused U.S. Dividend Class, Sprott Focused Global Balanced Class and Sprott Focused U.S. Balanced Class.

Also effective August 1, 2017, Mark Wisniewski and Chris Cockeram will become principally responsible for the management of Sprott Diversified Bond Fund, Sprott Diversified Bond Class, Sprott Short-Term Bond Fund and Sprott Short-Term Bond Class. 

Scott Colbourne and Dennis Mitchell will be leaving to pursue other professional opportunities. "We thank Scott and Dennis for their contributions and wish them all the best in their future endeavors," said John Wilson, Managing Partner of SPR & Co.  "We are proud of the depth and experience of our investment team which remains focused on providing alpha generating, long-term performance for our unitholders.  We are pleased to have Mark, Jeff and Chris assume these new responsibilities."

Risk Rating Change to Bullion Funds:

Sprott Gold Bullion Fund and Sprott Silver Bullion Fund have each adopted the risk classification methodology mandated by the Canadian Securities Administrators as of August 1, 2017. Accordingly, the risk ratings of Sprott Gold Bullion Fund has changed from "Medium" to "Medium to High," and the risk rating of Sprott Silver Bullion Fund has changed from "Medium" to "High."

About Mark Wisniewski
Mr. Wisniewski has more than 30 years of investment industry experience in fixed income. Prior to joining Sprott, he was a Senior Vice President and Portfolio Manager at Davis Rea. Prior to that Mark was Vice President and Portfolio Manager at Gluskin Sheff + Associates, where he managed $1.3 billion across several fixed income credit strategies. His previous roles include serving as Managing Director and Fixed Income Portfolio Manager at Fairlane Asset Management; Vice Chair and Head of Global Fixed Income at TD Securities; Executive Vice President and Manager of the Canadian Fixed Income Division of Goldman Sachs Inc.; and Managing Director, Head Trader and Manager of Fixed Income Trading and Sales at BMO Nesbitt Burns. Mr. Wisniewski received a Bachelor of Commerce from the University of Toronto.

About Jeff Sayer
Jeffrey Sayer joined Sprott Asset Management LP in September 2015 as an Associate Portfolio Manager with over a decade of investment management experience. Prior to joining Sprott, he held the position of Portfolio Manager at Trapeze Asset Management. Prior to that, Jeffrey was an Associate Portfolio Manager and Equity Research Analyst at I.A. Michael Investment Counsel, manager of the ABC Funds. Jeffrey is an MBA graduate of the Schulich School of Business (York University) and was awarded the Chartered Financial Analyst (CFA) designation in 2004.

About Chris Cockeram
Chris Cockeram joined Sprott Asset Management as an Associate Portfolio Manager. Chris is part of the Fixed Income Team and is focused on identifying investment opportunities in the High Yield and Investment Grade credit markets. Prior to joining Sprott, Chris worked as a high yield bond trader at CIBC World Markets and prior to that he was an Equity Research Associate at Scotia Capital. Chris earned his MBA from Dalhousie University in 2009 and is currently working towards his CFA designation.

About SPR & Co LP:
SPR & Co LP is an expert active manager of specialty investment solutions, committed to helping investors explore innovative ways to manage portfolio risk, and advisors to differentiate their businesses with unique investment solutions.  Based in Toronto, SPR & Co LP is an operating company that has been created to assume portfolio management of the Canadian diversified assets of Sprott Asset Management LP, including actively managed hedge and mutual funds. The new firm oversees approximately $3 billion in assets under management.

Please visit to learn more.

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SPR & Co LP to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and SPR & Co LP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. SPR & Co LP undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Such risks and uncertainties include receiving requisite regulatory and/or unitholder approvals for the sale of the assets, closing of the Transactions, the ability of SPR & Co LP to grow the remaining businesses and the completion of a normal course issuer bid.

Schedule "A" – Included Funds

Sprott Enhanced Balanced Fund
Sprott Small Cap Equity Fund
Sprott Canadian Equity Fund
Sprott Global Infrastructure Fund
Sprott Global Real Estate Fund
Sprott Diversified Bond Fund
Sprott Energy Fund
Sprott Gold Bullion Fund*
Sprott Silver Bullion Fund*
Sprott Gold and Precious Minerals Fund*
Sprott Short‐Term Bond Fund
Sprott Enhanced Equity Class
Sprott Enhanced U.S. Equity Class
Sprott Enhanced Balanced Class
Sprott Focused Global Dividend Class
Sprott Focused U.S. Dividend Class
Sprott Focused Global Balanced Class
Sprott Focused U.S. Balanced Class
Sprott Diversified Bond Class
Sprott Short‐Term Bond Class
Sprott Silver Equities Class*
Sprott Real Asset Class
Sprott Resource Class*
Sprott Energy Opportunities Trust
Sprott 2016‐II Flow-Through Limited Partnership
Sprott 2017 Flow-Through Limited Partnership

*Funds subject to Sub-advisor Agreement

Contact information: Drew WilliamsSVP Marketing416-943-4994dwilliams@sprlp.comMedia Inquiries:Goldman Communications Inc.Corey