Eric Sprott exercised 7,500,000 common share purchase warrants of Trigon Metals (TM) for aggregate consideration of $1,500,000.
Before the exercise, Sprott owned and controlled 22,214,999 shares and 16,357,499 warrants of Trigon, representing approximately 17.3 per cent of the outstanding shares.
Sprott now owns and controls 29,714,999 shares and 8,857,499 warrants.
Sprott has a long-term view of the investment and may acquire additional securities or sell in the future depending on market conditions.
Trigon Metals Inc. (TM) is down 8.7 per cent, trading at C$0.52 at 2:11 pm PT.