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Sprott in for more

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Pure Gold shareholder Sprott acquires shares

 

2022-05-26 07:29 ET - News Release

 

Mr. Eric Sprott reports

ERIC SPROTT ANNOUNCES HOLDINGS IN PURE GOLD MINING INC.

On May 25, 2022, 2176423 Ontario Ltd. (a corporation Eric Sprott beneficially owns) acquired ownership of one million units of Pure Gold Mining Inc., through a private placement, at 15 cents per unit for aggregate consideration of $150,000. Each unit consists of one common shares and one common share purchase warrant, with each whole warrant entitling the holder to acquire one share at 18 cents for six months from the date of issuance. The acquisition, combined with prior corporate treasury issuances of shares, resulted in a decrease in holdings of approximately 8.4 per cent of the outstanding shares on a partially diluted basis since the date of the last early warning report. Prior to the acquisition, Mr. Sprott beneficially owned and controlled 47,868,421 shares and 21,925,000 warrants representing approximately 7.7 per cent of the outstanding shares on a non-diluted basis and approximately 10.8 per cent on a partially diluted basis assuming the exercise of all such warrants.

Mr. Sprott now beneficially owns and controls 48,868,421 shares and 22,925,000 warrants representing approximately 5.9 per cent of the outstanding shares on a non-diluted basis and approximately 8.4 per cent on a partially diluted basis assuming the exercise of such warrants. The acquisition resulted in a partially diluted ownership change of greater than 2 per cent (to below 10 per cent) and, therefore, Mr. Sprott is no longer a reporting insider.

The securities noted above are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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