Sprott Molybdenum Participation Corp. has closed its initial public offering. An total of 37.8 million units (including units issuable on the exercise of the overallotment option) were sold at $5 per unit, for total gross proceeds of $189-million. Each unit consists of one common share in the capital of the corporation and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire, subject to adjustment in certain circumstances, one common share of the corporation at a price of $7.50 until April 16, 2009. The common shares and warrants are listed on the Toronto Stock Exchange under the symbol MLY and MLY.WT, respectively.