Sprott Resource Lending Corp., formerly Quest Capital Corporation successfully completed all steps necessary to rebrand as Sprott Resource Lending Corp. and has adopted a new lending strategy providing bridge and mezzanine lending to the natural resources sector.
"Today marks the beginning of an exciting future for the shareholders of Sprott Resource Lending, which has the capital, deal flow access, risk management policies and execution expertise to capitalize on the vast and unmet need in natural resources for access to credit," said Peter Grosskopf, President and CEO.
"Speaking on behalf of the full Sprott organization, I pledge our full commitment to capitalizing on our collective strengths and the outstanding potential that we can realize through our specialized form of sector-specific lending."
The timing of the rebranding is considered exceptionally favourable. The combination of natural resource sector growth, global contraction in bank financing, low short-term interest rates and trading discounts to spot commodity-based net asset values of many resource companies has created a powerful opportunity to originate high quality loans, achieve attractive spreads and negotiate lucrative bonus arrangements which will add incremental profitability to Sprott Resource Lending's core activities.
As of September 7, 2010, Sprott Resource Lending has approximately $100 million of initial cash to commit to resource lending and an aggressive plan to monetize the Corporation's legacy net real estate loans of approximately $160 million that should liberate additional cash for resource lending purposes.
"Sprott Resource Lending is starting from a position of strength and the successful execution of real estate loan monetization will add to our momentum," said Jim Grosdanis, Chief Financial Officer.
"We are very clearly focused on achieving our stated objectives, including generating superior yields on capital and remaining under-levered."
Source: Quest Capital Corporation
"Today marks the beginning of an exciting future for the shareholders of Sprott Resource Lending, which has the capital, deal flow access, risk management policies and execution expertise to capitalize on the vast and unmet need in natural resources for access to credit," said Peter Grosskopf, President and CEO.
"Speaking on behalf of the full Sprott organization, I pledge our full commitment to capitalizing on our collective strengths and the outstanding potential that we can realize through our specialized form of sector-specific lending."
The timing of the rebranding is considered exceptionally favourable. The combination of natural resource sector growth, global contraction in bank financing, low short-term interest rates and trading discounts to spot commodity-based net asset values of many resource companies has created a powerful opportunity to originate high quality loans, achieve attractive spreads and negotiate lucrative bonus arrangements which will add incremental profitability to Sprott Resource Lending's core activities.
As of September 7, 2010, Sprott Resource Lending has approximately $100 million of initial cash to commit to resource lending and an aggressive plan to monetize the Corporation's legacy net real estate loans of approximately $160 million that should liberate additional cash for resource lending purposes.
"Sprott Resource Lending is starting from a position of strength and the successful execution of real estate loan monetization will add to our momentum," said Jim Grosdanis, Chief Financial Officer.
"We are very clearly focused on achieving our stated objectives, including generating superior yields on capital and remaining under-levered."
Source: Quest Capital Corporation
