Rico....
Sprott hold the KXL shares in Their funds ,which is held by their clients..
Spott charges management fees to the clients(MER's) in other words when the funds sell the KXL shares the money goes to their clients..not Sprott..
As they state,Sprott itself holds no KXL shares..
. The designation and number or principal amount of securities and the percentage of outstanding securities referred to in item 3 over which:
(a) the eligible institutional investor, either alone or together with any joint actors, has ownership and control:
******The Offeror does not itself own any Common Shares or other securities of the Issuer.********
