Toronto, Ontario--(Newsfile Corp. - May 31, 2024) - Eric Sprott announces that, today, 307,692 common share purchase warrants (Warrants) of King Global Ventures Inc., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 11.8% 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 307,692 Shares and 307,692 Warrants representing approximately 4.3% of the outstanding Shares on a non-diluted basis and approximately 8.3% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns 307,692 Shares representing approximately 4.3% of the outstanding Shares on a non-diluted basis. The Warrant expiry combined with previous new share issuances by King Global Ventures resulted in an ownership change, on a partially diluted basis, of approximately 11.8% since the date of the last filing of an Early Warning Report and brings total holdings to under 10%. As a result, Mr. Sprott and 2176423 Ontario Ltd., ceased to be insiders of King Global Ventures.
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.
King Global Ventures is located at 82 Richmond St East, Suite 200, Toronto, ON M5C 1P1. A copy of the early warning report with respect to the foregoing will appear on King Global'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/211311
SOURCE: Eric Sprott
