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Mr. Mitchell joined Sprott after leaving Sentry Investments in 2015.

Dennis Mitchell is leaving Sprott Inc. alongside co-chief investment officer Scott Colbourne, as a result of a buyout of the firm's mutual-fund business.

In April, Sprott's chief executive officer, John Wilson, and president, James Fox, bought Sprott Asset Management for $46-million. At the time, Sprott Asset Management had $3-billion in assets.

Mr. Mitchell joined Sprott after suddenly leaving Sentry Investments in 2015, where he served as chief investment officer. A news release from SPR & Co., the company formed after the buyout, said Mr. Mitchell and Mr. Colbourne are both leaving for other professional opportunities.

"We thank Scott and Dennis for their contributions and wish them all the best in their future endeavours," Mr. Wilson said in the release.

A representative of the company described the departure as "amicable." The release also announced that Jeff Sayer, Mark Wisniewski and Chris Cockeram, alongside SPR's asset-management team, will lead the management of the companies' funds, which include the Sprott Global Infrastructure Fund and the Sprott Diversified Bond Fund.

Before his departure, Mr. Mitchell was leading Sprott in buying up Canadian real estate investment trusts, taking advantage of high-occupancy rates. He could not be immediately reached for comment.

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