Toronto, Ontario--(Newsfile Corp. - December 29, 2023) - Eric Sprott announces that, today, 2176423 Ontario Ltd., disposed of 10,000,000 common shares (Shares) of Nubian Resources Ltd. (representing approximately 15.8% of the outstanding Shares), by way of a share purchase agreement with Athena Gold Corporation, in consideration of the issuance of 16,546,669 common shares by Athena Gold Corporation to 2176423 Ontario (satisfying a deemed price of approximately $0.05 per Share for total deemed consideration of approximately $500,000). 2176423 Ontario is beneficially owned by Eric Sprott. Prior to the disposition of these Shares, Mr. Sprott beneficially owned 10,000,000 Shares representing approximately 15.8% of the outstanding Shares on a non-diluted basis.
As a result of the disposition, Mr. Sprott does not beneficially own any securities of Nubian Resources resulting in Mr. Sprott and 2176423 Ontario ceasing to be insiders of Nubian Resources. Mr. Sprott may acquire securities of Nubian Resources, including on the open market or through private acquisitions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Nubian Resources is located at #202 Yale Crt. Plaza, 2526 Yale Crt., Abbotsford, British Columbia, V2S 8G9. A copy of the early warning report with respect to the foregoing will appear on Nubian Resources' profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, ON M5C 3C5).
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