is this is another explanation for the sharp spike in volume for sbg yesterday... I'm not saying who purchased shares in the market but sprott had in the money warrants on svg that have or are soon to expire...
June 1, 2020–Victoria, BC: Silver Grail Resources Ltd. (“Silver Grail”) ( (“SVG”-TSX-V) (“KD7”-Frankfurt) announces that it intends to complete a non-brokered private placement consisting of the issuance of up to 4,000,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of up to $400,000 subject to the approval of the TSX Venture Exchange. Each Unit will consist of one common share (“Common Share”) and one-half a Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into one Common Share at a price of $0.15 for a period of one year from closing.
Eric Sprott has agreed to subscribe for a minimum of 2,500,000 Units. Assuming the additional 1,500,000 Units are subscribed for by other parties, at the completion of the placement Eric Sprott will beneficially own 2,500,000 units and 1,250,000 warrants representing approximately 7.7% on a non-diluted basis and 11.2% on a partially diluted basis assuming exercise of all warrants.