Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Eric Sprott announces that, today, 2176423 Ontario Ltd. (a corporation he beneficially owns) exercised 7,500,000 common share purchase warrants (Warrants) of Trigon Metals Inc., at $0.20 per common share (Share) for aggregate consideration of $1,500,000. The exercise of Warrants, combined with prior corporate treasury issuances of Shares, resulted in a decrease in holdings of approximately 4.4% of the outstanding Shares on a partially diluted basis since the date of the last early warning report. Prior to such exercise, Mr. Sprott beneficially owned and controlled 22,214,999 Shares and 16,357,499 Warrants representing approximately 17.3% of the outstanding Shares on a non-diluted basis and approximately 26.6% on a partially diluted basis assuming the exercise of all such Warrants.
Mr. Sprott now beneficially owns and controls 29,714,999 Shares and 8,857,499 Warrants representing approximately 21.8% of the outstanding Shares on a non-diluted basis and approximately 26.6% on a partially diluted basis assuming the exercise of such Warrants. The exercise of Warrants resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
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.
Trigon Metals is located at 130 Queens Quay East, Suite 1224 Toronto, ON M5A 0P6. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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