Sprott announced that Sprott Private Resource Lending Fund III (“Fund III”) has completed its final closing. With the close of Fund III, total assets under management of Sprott Resource Lending Corp (“SRLC”) stands at U.S.$1.5 billion within the Company’s private strategies segment.

“We are extremely pleased with the continued success the investment team has demonstrated for well over 10 years, providing consistent growth in funds managed through volatile markets,” said Mr. Whitney George, CEO of Sprott.

“Fund III will continue to provide flexible capital in what we feel is an underserved sector, as commercial banks and more traditional lenders exit the space. The global market for metals and critical minerals is growing and we are well positioned to partner with, and provide financing to, global mining companies to acquire and bring projects into production in a capital constrained sector to meet increased metal demand. As a sector leader, the team is proud to have completed over 80 investments, helping to launch multiple successful mining companies,” said Greg Caione, Managing Partner of SRLC.

“Making this our largest fund to date, we welcome several new limited partners and appreciate the strong support from existing limited partners, many of which have continued from Fund I, as well our syndicate partners who helped us launch the business 13 years ago. Our sector experience and relationships allow us to deliver appropriate risk adjusted credit returns underpinned by senior, secured facilities,” added Narinder Nagra and Jim Grosdanis, Managing Partners of SRLC.

Sprott Resource Lending Corp (“SRLC”) is a wholly owned subsidiary of Sprott Inc. and is the general partner of several funds whose investors include pension plans, retirement systems, insurance companies, foundations and endowments. SRLC provides senior and secured debt, and structured hybrid financings to companies focused on metals and energy transition materials globally.