Toronto, Ontario--(Newsfile Corp. - February 20, 2024) - Eric Sprott announces that, on February 19, 2024, 1,000,000 common share purchase warrants (Warrants) of Summa Silver Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 5.4% 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 16,972,200 Shares and 3,986,100 Warrants representing approximately 16.2% of the outstanding Shares on a non-diluted basis and approximately 19.3% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns 16,972,200 Shares and 2,986,100 Warrants representing approximately 16.2% of the outstanding Shares on a non-diluted basis and approximately 18.5% on a partially diluted basis assuming the exercise of such Warrants. The Warrant expiry combined with previous new share issuances by Summa Silver resulted in 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.
Summa Silver is located at 918-1030 West Georgia St., Vancouver, British Columbia V6E 2Y3. A copy of the early warning report with respect to the foregoing will appear on Summa Silver's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario M5C 3C5).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198550
SOURCE: Eric Sprott
