- Billionaire mining investor Eric Sprott has allowed 2.9 million common share purchase warrants of Great Atlantic Resources Corp. (TSXV:GR) to expire unexercised.
- Sprott now beneficially owns 4.9 million shares representing approximately 9.6% of outstanding shares on a non-diluted basis.
- Great Atlantic Resources is an exploration company focused on the discovery and development of mineral assets with mineral property interests in Atlantic Canada.
- Shares of Great Atlantic Resources Corp. were unchanged, trading at C$0.045 at 10:33 am.
Billionaire mining investor Eric Sprott has allowed 2.9 million common share purchase warrants of Great Atlantic Resources Corp. (TSXV:GR) to expire unexercised.
The warrants, which are held by 2176423 Ontario Ltd., a corporation Sprott beneficially owns, represent a decrease in holdings of about 5.1 per cent of the outstanding common shares on a partially diluted basis since the date of the last early warning report.
As a result of the expiry of the warrants, Sprott now beneficially owns 4.9 million shares representing approximately 9.6% of outstanding shares on a non-diluted basis.
By reducing holdings from 14.4 per cent on a partially diluted basis assuming the exercise of such warrants, Sprott and 2176423 Ontario Ltd. will no longer have insider status with Great Atlantic Resources Corp.
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets with mineral property interests in Atlantic Canada.
Shares of Great Atlantic Resources Corp. (TSXV:GR) were unchanged, trading at C$0.045 at 10:33 am Monday.
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(Top photo of Golden Promise Gold Property: Great Atlantic Resources Corp.)