Toronto, Ontario--(Newsfile Corp. - December 23, 2021) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, sold 5,000,000 common shares (shares) of Northern Sphere Mining Corp., through a share purchase agreement, to Jeff Kennedy, at $0.00001 per share for total consideration of $50.00. 2176423 Ontario sold the Northern Sphere shares pursuant to a partial revocation by the Ontario Securities Commission of a previous cease trade order against Northern Sphere.
Mr. Sprott no longer beneficially owns or controls any securities of Northern Sphere. Prior to this disposition, Mr. Sprott beneficially owned and controlled 5,000,000 shares representing approximately 14.6% of the outstanding shares.
Mr. Kennedy now beneficially owns 5,000,000 shares representing approximately 14.6% of the outstanding shares. Prior to this acquisition, Mr. Kennedy did not own or control any securities of Northern Sphere.
Mr. Sprott and Mr. Kennedy are not joint actors for the purposes of Canadian early warning requirements.
Mr. Kennedy has long-term view of the investment and may acquire additional securities of the Company 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.
Northern Sphere is located at 217 Queen Street West, Suite 401, Toronto, ON M5V 0R2. A copy of 2176423 Ontario's and Mr. Kennedy's early warning report will appear on Northern Sphere's profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott's and Mr. Kennedy's offices at (416) 362-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108437
