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Sprott acquires Tocqueville Asset Management's gold strategy business

Toronto-based Sprott Inc.'s subsidiary Sprott Asset Management LP has completed its acquisition of Tocqueville Asset Management LP's gold strategy asset management business.

The deal was completed for a total consideration of up to US$50 million, which comprised a payment at closing of US$12.5 million in cash and US$2.5 million in Sprott common shares. The transaction adds an estimated C$2.3 billion to Sprott's assets under management.