Eric Sprott, a fund manager and founder of Sprott Securities Inc., has bought the firm's money

Date: Friday, January 4, 2002

Eric Sprott, a fund manager and founder of Sprott Securities Inc., has bought the firm's money management arm and relinquished his post as chairman of the brokerage. He said the goal of the transaction was to have ownership and managerial seperation between the money manager and brokerage. Last year, in his role as fund manager, Mr. Sprott racked up a robust 64.2% return on his Sprott Hedge L.P.