Stonegate Agricom to Issue Common Shares to Sprott Resource Corp. for Debt

Stonegate Agricom to Issue Common Shares to Sprott Resource Corp. for Debt 
TORONTO, April 29, 2013 /CNW/ - Sprott Resource Corp. ("SRC") (TSX: SCP) and 
Stonegate Agricom Ltd. ("Stonegate") (TSX: ST) today jointly announced that 
they have reached an agreement for Stonegate to acquire SRC's fully drawn $7.5 
million loan facility for 11,538,462 Stonegate common shares at a price of 
$0.65 per share. The proposed transaction is expected to close by May 7, 2013. 
The number of Stonegate outstanding shares will increase to 155,909,371 and 
SRC's ownership of Stonegate shares will increase to 58,450,462, or 37.5% of 
the outstanding shares, from the current level of 46,912,000, or 32.5% of the 
outstanding shares. The proposed transaction will be completed as a private 
placement to an "accredited investor" under applicable securities and is 
subject to the approval of the Toronto Stock Exchange (TSX). 
"We welcome the continuing financial support of SRC, our largest shareholder. 
This transaction will eliminate the security and debt covenants associated 
with the loan and allow us the freedom to pursue a full range of financing 
options required to acquire the mining equipment fleet and to construct and 
commence operation of the proposed underground mine at our Paris Hills 
phosphate property in Idaho," said Mark Ashcroft, Stonegate's President and 
Chief Executive Officer. 
SRC holds the Stonegate common shares for investment purposes and does not at 
this time intend to acquire ownership of, or control over, additional 
securities of Stonegate. SRC will review its holdings on a continuing basis 
and such holdings may be increased or decreased in the future. 
About Stonegate Agricom
Stonegate Agricom, which is actively engaged in acquiring and developing 
agricultural nutrient projects, is currently focused on the development of two 
potentially world-class, long-life phosphate deposits, the Paris Hills 
Phosphate Project located in Idaho and the Mantaro Phosphate Project located 
in Peru. The Company is confident that the two deposits have sufficient size 
and grade to become strategic, cost-effective sources of phosphate supply for 
major fertilizer producers. More information is available at 
About Sprott Resource Corp.
SRC is a Canadian-based company, the primary purpose of which is to invest and 
operate in natural resources. Through acquisitions, joint ventures and other 
investments, SRC seeks to provide its shareholders with exposure to the 
natural resource sector for the purposes of capital appreciation and real 
wealth preservation. SRC is well positioned to draw upon the considerable 
experience and expertise of both its Board of Directors and Sprott Consulting 
LP (SCLP), of which Sprott Inc. is the sole limited partner. Pursuant to a 
management services agreement between SCLP and SRC, SCLP provides day-to-day 
business management for SRC as well as other management and administrative 
services. SRC invests and operates through Sprott Resource Partnership 
(SRP), a partnership between SRC and Sprott Resource Consulting Limited 
Partnership, an affiliate of SCLP which is the managing partner of SRP. 
Cautionary Note Regarding Forward-Looking Statements 
This press release contains "forward-looking statements" and "forward-looking 
information" within the meaning of applicable law, which include statements 
herein relating to the potential to increase mineral resource and mineral 
reserve estimates. Generally, forward-looking statements and forward-looking 
information can be identified by the use of forward-looking terminology such 
as "plans", "expects" or "does not expect", "is expected", "budget", 
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not 
anticipate", "believes", or variations of such words and phrases or statements 
that certain actions, events or results "may", "could", "would", "might" or 
"will be taken", "occur" or "be achieved". All forward-looking statements 
and forward-looking information are based on reasonable assumptions that have 
been made by the Company as at the date of such information. Forward-looking 
statements and forward-looking information are subject to known and unknown 
risks, uncertainties and other factors that may cause the actual results, 
level of activity, performance or achievements of the Company to be materially 
different from those expressed or implied by such forward-looking statements 
and forward-looking information, including but not limited to: risks relating 
to assumptions used in preparation of the Feasibility Study and 
Pre-Feasibility Study on the Lower Phosphate Zone of the Paris Hills Phosphate 
Project including government regulation, phosphate prices, labour costs and 
capital costs, and project risks including project location, permitting 
requirements, project delays, ground control and dilution and water 
management; the general risks associated with the speculative nature of the 
Company's business, commodity prices, current global financial conditions, 
uncertainty of additional capital, price volatility, the Paris Hills Phosphate 
Project being an advanced exploration stage project, limited operating 
history, no history of earnings, government regulation in the mining industry, 
environmental risks and hazards, impending climate change legislation, 
required approvals and permits, foreign subsidiaries, risks relating to the 
retention of the Paris Hills project, expiration of leases and permits for the 
Paris Hills Project, title to mineral properties, obtaining and converting 
mineral concessions and surface rights, community relations and project 
support, water rights, exploration, development and operating risks, 
uncertainty in the estimation of mineral reserves and resources, uncertainty 
of inferred mineral resources, mineral exploration, reliability of historical 
exploration work, absence of public trading market, risks associated with 
having a controlling shareholder, arbitrary offering price, dilution to the 
common shares, dependence on key personnel, currency fluctuations, insurance 
and uninsured risks, competition, legal proceedings, conflicts of interest and 
lack of dividends as well as those factors discussed in the section entitled 
"Risk Factors" in the Company's most recently filed annual information form 
available at Although the Company has attempted to identify 
important factors that could cause actual results to differ materially from 
those contained in forward-looking statements and forward-looking information, 
there may be other factors that cause results not to be as anticipated, 
estimated or intended. There can be no assurance that such information will 
prove to be accurate, as actual results and future events could differ 
materially from those anticipated in such statements or information. 
Accordingly, readers should not place undue reliance on forward-looking 
statements or forward-looking information. The forward-looking statements 
and forward-looking information contained in this press release are included 
for the purpose of providing investors with information to assist them in 
understanding the Company's expected financial and operational performance and 
may not be appropriate for other purposes. Stonegate does not undertake to 
update any forward-looking statement or forward-looking information that is 
included herein, except in accordance with applicable securities laws. 
Wayne Cheveldayoff Vice President, Investor Relations Stonegate Agricom Ltd. 
Tel: 416-479-4359  Christine Stewart 
Renmark Financial Communications Inc. Tel: 416-644-2020  For further information, or to obtain a copy of 
the early warning report  filed in connection with SRC's holdings in 
Stonegate, please contact:  Stephen Yuzpe Chief Financial Officer Sprott 
Resource Corp. 200 Bay Street, Suite 2750 Toronto, Ontario M5J 2J2 Tel: (416) 
977-7333 Fax: (416) 977-9555 
SOURCE: Sprott Resource Corp. 
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CO: Sprott Resource Corp.
ST: Ontario
-0- Apr/29/2013 11:30 GMT
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