Toronto, Ontario--(Newsfile Corp. - March 29, 2018) - Eric Sprott announces that he holds and controls, indirectly (through his holding company, 2176423 Ontario Ltd. and The Sprott Foundation), 25,048,678 common shares (shares) of Sprott Inc., representing approximately 9.99% of the outstanding shares. This press release is being issued pursuant to Canadian early warning requirements because the sale of shares, described below, combined with Sprott Inc.'s treasury issuances of shares, has resulted in Mr. Sprott's beneficial holdings of shares to decrease to less than 10% of the outstanding shares.
Between January 15, 2018 and March 13, 2018, 2176423 Ontario Ltd. had net sales of 2,549,400 shares at an average price of $3.07 per share ($7,816,250 total), representing approximately 1.02% of the outstanding shares. Prior to this disposition, Mr. Sprott held and controlled, indirectly, 27,598,078 shares, representing approximately 11.01% of the outstanding shares.
The shares are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Sprott Inc. is located at 200 Bay Street, Suite 2600, Toronto, Ontario, M5J 2J1. A copy of 2176423 Ontario's early warning report will appear on Sprott Inc.'s profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7171.
2176423 Ontario Ltd.
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1
