Toronto, Ontario--(Newsfile Corp. - February 28, 2024) - Eric Sprott announces that, today, 2,000,000 common share purchase warrants (Warrants) of Silver Storm Mining Ltd., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 9.5% 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 41,604,282 Shares and 2,000,000 Warrants representing approximately 10.5% of the outstanding Shares on a non-diluted basis and approximately 10.9% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns 41,604,282 Shares representing approximately 10.5% of the outstanding Shares on a non-diluted basis. The Warrant expiry combined with previous new share issuances by Silver Storm Mining 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.
Silver Storm Mining is located at 22 Adelaide St., West, Suite 2020, Bay Adelaide Centre, Toronto, ON M5H 4E3. A copy of the early warning report with respect to the foregoing will appear on Silver Storm Mining'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/199656
SOURCE: Eric Sprott
