Metanor Resources MEAOD

Metanor investor Sprott acquires seven million shares

[MAZZMEX]

Symbol C : MTO Shares Issued 421,189,849 Close 2016-03-10 C$ 0.065 Recent Sedar Documents View Original Document Metanor investor Sprott acquires seven million shares 2016-03-11 15:56 ET - News Release Mr. Eric Sprott, investor, reports ERIC SPROTT ANNOUNCES ACQUISITION OF SECURITIES OF METANOR RESOURCES INC. On March 1, 2016, Eric Sprott acquired ownership and control over seven million common shares of Metanor Resources Inc., representing approximately 1.7 per cent of the currently issued and outstanding common shares of the corporation on a non-diluted basis. The acquired shares were purchased at a price of 6.3 cents per acquired share. As of the date hereof, after giving effect to the Acquisition, Sprott beneficially owns, or exercises control or direction over: (i) 30,000,000 Shares; and (ii) 20,000,000 common share purchase warrants of the Corporation. Based on the foregoing, Sprott beneficially owns, or exercises control or direction over, 30,000,000 Shares, representing approximately 7.1% of the currently issued and outstanding Shares on a non-diluted basis, and 50,000,000 Shares, representing approximately 11.3% of the currently issued and outstanding Shares on a partially-diluted basis. The Acquired Shares were purchased through the facilities of the TSX Venture Exchange. The Acquired Shares were acquired for investment purposes. Sprott has a long-term view of the investment and Sprott and any joint actors do not intend at this time to acquire additional Shares, but may acquire additional Shares either on the open market or through private acquisitions or sell the Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Sprott at [phone]. 2016 Canjex Publishing Ltd. All rights reserved.

[pdcon1]

good post sprott knows value and how to make money , sprott is not a penny flipper  he is here for the big haul  like a lot higher

[pdcon1]

sprott would not buy into a company that was over priced jmo  he might look into a credit facility now  for mto 

[wind00e]

Sprott also bought 20 million in the last PP. that's where the 20 million warrants come from mentioned in the post. GL

[romara]

And he will probably have a say on how things are done ....maybe even a director on the board