Sprott Resource to spend C$30 mln to expand farms (fxnonstop.com)


Sprott Resource to spend C$30 mln to expand farms

WINNIPEG, Manitoba | Thu Dec 16, 2010 9:01am EST

WINNIPEG, Manitoba Dec 16 (Reuters) - Sprott Resource Corp (SCP.TO) said on Thursday that it will invest C$30 million ($30 million) in its One Earth Farms Corp subsidiary to make it Canada's biggest operating crop and cattle farm in 2011.

Sprott said it plans to exercise 30 million warrants in One Earth, increasing its ownership interest to 80 percent from 66.7 percent.

One Earth Farms leases land in Western Canada, mainly from aboriginal reserves. ($1=$1.00 Canadian)