Sprott Energy Opportunities Trust Announces Exchan

TORONTO, ONTARIO, Dec. 23, 2016 (GLOBE NEWSWIRE) -- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sprott Asset Management LP ("Sprott"), on behalf of Sprott Energy Opportunities Trust (the "Trust"), is pleased to announce the exchange ratios for the exchange offer by the Trust (the "Exchange Option") being made under the final prospectus of the Trust dated December 6, 2016.

The investment objective of the Trust is to achieve long-term capital growth. The Trust has been created to invest in an actively managed portfolio comprised primarily of equity and equity-related securities of companies that are involved directly or indirectly in the exploration, development, production and distribution of oil, gas, coal, or uranium and other related activities in the energy and resource sector.

The number of units of the Trust ("Units") issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on December 12, 2016 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Trust, by $10.00. The Exchange Ratio for any such securities that do not trade in Canadian dollars was determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on today's Bank of Canada noon rate of exchange. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of Units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.

The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Trust pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratio.

(1) Class A Common Shares of Seven Generations Energy Ltd.

(2) Class A subordinate voting shares of ShawCor Ltd.

The offering is being conducted by a syndicate of agents led by RBC Capital Markets, CIBC and TD Securities Inc. and including BMO Capital Markets, National Bank Financial Inc., Scotiabank, GMP Securities L.P. Manulife Securities Incorporated, Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Sprott Private Wealth LP.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.

The Units have not been and will not be registered under the  United States Securities Act of 1933 , as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the securities set out herein in the United States.

About Sprott Asset Management LP

Sprott Asset Management LP is a leading independent asset management company headquartered in Toronto, Canada. The company manages the Sprott family of mutual funds, hedge funds, physical bullion funds and specialty products and is dedicated to achieving superior returns for its investors over the long term. The company also manages discretionary managed accounts. Please visit us at  www.sprott.com  to learn more about our investment professionals and their market insights.

For more information on Sprott, please visit  www.sprott.com  or inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or  invest@sprott.com .

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expects", "intends", "anticipates", "will" and similar expressions to the extent that they relate to the Trust. The forward-looking statements are not historical facts but reflect Sprott's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sprott believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Trust nor Sprott undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

CONTACT INFORMATION Sprott (416) 943-6707 or (866) 299-9906 invest@sprott.com www.sprott.com