Toronto, Ontario--(Newsfile Corp. - December 23, 2021) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, sold 26,835,089 common shares (shares) of Resource Capital Gold Corp., through a share purchase agreement, to Jeff Kennedy, at $0.00001 per share for total consideration of $268.35. 2176423 Ontario sold the Resource Capital shares pursuant to a partial revocation by the Ontario Securities Commission of a previous cease trade order against Resource Capital.
Mr. Sprott no longer beneficially owns or controls any securities of Resource Capital. Prior to this disposition, Mr. Sprott beneficially owned and controlled 26,835,089 shares representing approximately 15.4% of the outstanding shares.
Mr. Kennedy now beneficially owns 26,835,089 shares representing approximately 15.4% of the outstanding shares. Prior to this acquisition, Mr. Kennedy did not own or control any securities of Resource Capital.
Mr. Sprott and Mr. Kennedy are not joint actors for the purposes of Canadian early warning requirements.
Mr. Kennedy has long-term view of the investment and may acquire additional securities of the Company 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.
Resource Capital is located at 666 Burrard Street, Unit 500, Vancouver, BC V6C 3P6. A copy of 2176423 Ontario's and Mr. Kennedy's early warning report will appear on Resource Capital's profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott's and Mr. Kennedy's offices at (416) 362-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108441
