Sprott announces reorganization and change of name to Cadomin

Date: Monday, July 13, 2009
Author: Advisor.ca

Sprott Molybdenum Participation Corporation announced today that it has effected the distribution of substantially all of its assets to its shareholders, consisting of a cash distribution of approximately $1.76 per share and one new common share in exchange for each old common share of the Corporation.

As part of the reorganization, the corporation has changed its name to Cadomin Capital Corp. The corporation is in the process of completing its application to list its new common shares on the NEX board of the TSX Venture Exchange.

As part of the reorganization, there are also changes to the executive officers and the composition of the board of directors, effective immediately.

Darryl Coates has been appointed as president and CEO. Eric Sprott has resigned as chairman, CEO, president and a director along with Maria Smirnova, vice-president.

McGoey has been appointed as the chief financial officer of the corporation, replacing Iryna Gordiyenko.