Sprott vs. Cormark

I made a post earlier that Cormark was buying FNC, which they did. I originally thought that Cormark was Sprott Securities, but it seems after a bit of reading I'm mistaken.

In 1981, Eric Sprott, CA, founded Sprott Securities Ltd. (now Cormark Securities Inc.), an institutional brokerage firm focused on small-to-mid capitalization companies, servicing Canadian corporate and institutional investors.
In the year 2000, Eric Sprott made the decision to focus solely on the investment management business. Accordingly, the “investment management division” of Sprott Securities Inc. (now Cormark Securities Inc.), was spun-off to form a separate entity now known as Sprott Asset Management LP. Consequently, SAM was founded with an already established successful historical track record of managing assets through Sprott Managed Accounts since 1981 and the Sprott Canadian Equity Fund since 1997. Sprott Securities Inc. was sold to its employees in 2002, leaving Eric Sprott and the directors and officers of SAM with no remaining interest in the firm.

http://www.sprott.com/main3.aspx?id=2

Originally they were Sprott Securities. Eric Sprott spun off the management division, now called Sprott Asset Management, and in 2002 they sold Sprott Securities to its employees.