Sprott strikes deal to buy Toscana companies for $14 million

Investment firm Sprott Inc. (TSX:SII) says it has signed a letter of intent to acquire Toscana Capital Corp, and its Toscana Energy unit for $14 million in cash and Sprott shares. The Toronto company said Wednesday it could also pay another $5.25 million in shares over three years if Toscana hits its financial targets. The Toscana group is based in Calgary and helps finance energy companies and invests in the oil and gas sector. Toscana has assets of about $161 million. The companies hope to close the deal by the middle of the second quarter. “In the Toscana Companies, we are acquiring a leading team of energy specialists and lenders as well as a Calgary presence,” said Peter Grosskopf, chief executive of Sprott. “We believe that each of Toscana’s energy lending business, managed working interest portfolio and flow through investment vehicles have significant growth potential.” Joseph Durante, CEO of Toscana, said “Sprott is a well-known natural investor and with the combination of our two companies, Sprott’s footprint in Calgary will only grow.” Share this article and your comments with peers on social media Keywords Mergers and acquisitionsCompanies Sprott Inc. CI acquires US$5.1B San Diego-based RIA Desjardins buys Montreal boutique firm Hexavest Canadian Press Related news Cidel Asset Management to acquire fixed income manager Facebook LinkedIn Twitter read more

Read More »

Neighbors say they heard as many as 30 shots fired during domestic disturbance near 95th and Nall

first_imgResidents of the neighborhood surrounding the Nall Hills Shopping Center at 95th Street and Nall Avenue awoke to the sound of gunfire early Sunday as a man involved in an argument with his girlfriend discharged a gun.KSHB reports that the gun used in the incident was a semi-automatic rifle and that neighbors heard as many as 30 rounds fired..Overland Park police say they responded to the call in the 9600 block of Outlook Drive around 2 a.m. Sunday.“Upon officer’s arrival, it was discovered a male was discharging a firearm,” reads the department’s media release on the incident.Police found bullet holes “in and around the residence.” The alleged shooter exited the apartment and surrendered to police and was taken into custody. The apartment complex where the shooting took place is three blocks west of Trailwood Elementary School and a short distance to the northeast from Indian Woods Middle School.last_img read more

Read More »

C’bean Pentecostal Churches against gay marriage

first_img Tweet Share 65 Views   no discussions ST JOHN’S, Antigua (CMC) – The Pentecostal Assemblies of the West Indies (PAWI) has criticised the recent decision by the US Supreme Court to legalise same-sex marriages saying it endangers the belief of the church and violate the law of God.“Our organisation promotes the family unit as a fundamental institution, where a mother and father nurture children, instil faith, and inculcate moral strengths and spiritual values. Thus, legalisation of same sex marriage will destabilise the family unit and result in harmful consequences for the society at large,” the PAWI, which represents Pentecostal churches in the region, said in a statement.PAWI said its opposition to same-sex marriage is in no way shows resentment or hatred for individuals who are in support of gay marriage and homosexuality, “as this will be in stark contradiction to the very word of God which we uphold as the supreme authority governing our lives.“Rather, we continue to affirm our belief in love and respect for all humanity,” it said, adding that same-sex marriage is against God’s divine plan for marriage and its purpose for procreation.An opinion poll published in the United States over the weekend, notes that Americans are still sharply divided on the issue of same-sex marriage nearly a month after the Supreme Court’s ruling.The poll also found a near-even split over whether local officials with religious objections should be required to issue marriage licenses to same-sex couples, with 47 per cent saying that should be the case and 49 per cent say they should be exempt. Sharing is caring!center_img Share Share FaithLifestyleNewsRegional C’bean Pentecostal Churches against gay marriage by: Caribbean Media Corporation – July 20, 2015last_img read more

Read More »

Egypt stun favourites Ivory Coast

first_imgEgypt will meet Cameroon in the final after stunning tournament favourites Ivory Coast in an engrossing contest.Ahmed Fathi put the defending champions ahead on 12 minutes with a strike from the edge of the penalty area.Amr Zaki made it 2-0 with a header after the break, but Kader Keita pulled a goal back a minute later with a stunning 25-yard strike.Zaki scored another from the edge of the area, and Mohamed Aboutrika added the fourth in stoppage time.Earlier Cameroon, who lost 4-2 to Egypt in their opening group game, beat Ghana 1-0.Egypt goalkeeper Essam Al-Hadari had a superb game and he made at least two world-class saves at key moments of the game to keep his side ahead.In contrast the Ivory Coast goalkeeper Boubacar Barry had to be substituted in the first half due to injury and his replacement, the inexperienced goalkeeper Stephan Loboue, looked at fault for Egypt’s second and third goals. Kolo Toure returned to the Ivory Coast defence, but was not at his sharpest, and he too was badly at fault for Egypt’s third goal.Egypt took a more physical approach to the game than usual, deciding to take on the Elephants’ power.Didier Drogba worked his way into the penalty area in the 11th minute, but goalkeeper Al-Hadari had the shot covered.The Pharoahs went ahead a minute later when a corner was not cleared decisively and after the ball came to Fathi he fired it in at the near post.Al-Hadari used his body to save a Drogba shot from six yards out, then at the other end, a 20-yard left-footer from Mohamed Aboutrika went narrowly wide.Egypt continued to maintain their presence in the game with confident, incisive play, and there was a blow for Ivory Coast in the 37th minute.Barry had to be replaced with Loboue, playing his first competitive international, having not featured for his German second division club all season.But the Elephants were unlucky not to equalise in first-half stoppage time. Drogba headed a corner goalwards with astonishing power, but the ball went straight into Al-Hadari’s body, and, with Aruna Dindane ready to pounce, it was cleared away by Hosni Abd Rabou.Al-Hadari stopped another Drogba header with a brilliant fingertip save three minutes into the second half.The Ivory Coast pressure intensified and on the hour Al-Hadari had to punch Arthur Boka’s inswinging free-kick over bar.Zaki made it 2-0 in the 62nd minute after Ahmed Hassan swung in a corner that Didier Zokora tried to clear at the near post.The ball went to Zaki, who headed in off the crossbar with Loboue not moving an inch. Ivory Coast responded seconds later, when Keita was given room to dribble across to a central position and he unleashed a thunderbolt from 25 yards.Zaki restored the two-goal advantage after Toure fatally turned his back on the ball allowing the striker to scored from 20 yards.Ivory Coast applied continual pressure but Egypt held firm, and with the Elephants committed to attack, Aboutrika scored in stoppage time from an Egypt break.Few would have predicted the scoreline, and the Pharaohs’ defence of the trophy remains on course.Source: BBClast_img read more

Read More »