Eric Sprott Increases Investment in Gander Gold! VANCOUVER, BC / ACCESSWIRE / May 28, 2021 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(OTCQB:SSYRF)(FSE:4E7) is pleased to announce that Mr. Eric Sprott is increasing his ownership in Sassy subsidiary Gander Gold Corporation to 17.35% (10,666,666 special warrants) by purchasing $1.6 million of a $2.2 million private placement in Gander Gold. This financing is expected to close in early June 2021.
Mr. Mark Scott, Sassy President and CEO, commented: "The additional $2.2 million injection into Gander Gold, nearly 75% of it coming from Mr. Sprott, will allow us to significantly expand our current program across multiple projects that comprise the largest land position of any public company in Newfoundland. We look forward to updating shareholders on our exploration progress in Newfoundland in the near future. Meanwhile, we're working diligently on a plan to list Gander Gold on a Canadian exchange. We appreciate Mr. Sprott's additional investment in Gander Gold which lifts our total raise to $5,000,000 to date."
Mr. Sprott is purchasing eight million special warrants of Gander Gold at $0.20 per special warrant, a 33% premium to the previous private placement price on a post-consolidated basis (refer to May 18, 2021 news release). Strategic investors are acquiring the balance of three million special warrants at $0.20 per special warrant. The special warrants will be converted into common shares at a later date.
Obviously, this speaks volumes about Sprott's conviction in management, and his comittment to furthering gold exploration in Newfoundland. It certainly looks like the gold rush is on in the province. Personally, I hold a good position in $SASY for they have executed a strategic plan in less than a year to acquire the Foremore property in the Eskay camp in B.C. and now hold the largest land package of all of the junior explorers in Newfoundland.
You can download a pdf of their NR here: https://bit.ly/3vvoGnE