Toronto, Ontario--(Newsfile Corp. - January 8, 2024) - Eric Sprott announces that, today, he exercised 2,000,000 common share purchase warrants (Warrants) of Trigon Metals Inc., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) at $0.20 per common share (Shares) for aggregate consideration of $400,000. In addition, 4,666,666 Warrants expired unexercised. The partial exercise of such Warrants and expiry represent a decrease in holdings of approximately 6.0% of the outstanding Shares on a partially diluted basis since the date of the last early warning report. Prior to the exercise of these Warrants, Mr. Sprott beneficially owned 31,048,332 Shares and 10,024,166 Warrants representing approximately 15.5% of the outstanding Shares on a non-diluted basis and approximately 19.6% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the partial Warrant exercise, Mr. Sprott now beneficially owns 33,048,332 Shares and 3,357,500 Warrants representing approximately 16.4% of the outstanding Shares on a non-diluted basis and approximately 17.7% on a partially diluted basis assuming the exercise of such Warrants.
The securities 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 Trigon Metals's 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).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193559
