Toronto, Ontario--(Newsfile Corp. - July 14, 2022) - Eric Sprott announces that, today 20,000,000 common share purchase warrants (Warrants) of Avidian Gold Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 17.9% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 20,000,000 Shares and 20,000,000 Warrants representing approximately 11.9% of the outstanding Shares on a non-diluted basis and approximately 21.3% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 20,000,000 Shares representing approximately 11.9% of the outstanding Shares on a non-diluted basis. The Warrants expiry resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
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.
Avidian Gold Corp., is located at 18 King Street East, Suite 902, Toronto, ON M5C 1C4. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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