Toronto, Ontario–(Newsfile Corp. – February 21, 2023) – Eric Sprott announces that on February 19, 2023, 8,888,889 common share purchase warrants (Warrants) of Scottie Resources Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 6.0% 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 18,888,889 Shares and 8,888,889 Warrants representing approximately 7.1% of the outstanding Shares on a non-diluted basis and approximately 10.1% 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 18,888,889 Shares representing approximately 7.1% of the outstanding Shares on a non-diluted basis. The Warrants expiry combined with previous new share issuances by Scottie Resources resulted in an ownership change, on a partially diluted basis, of approximately 6.0% since the date of the last filing of an early warning report and brings total holdings to under 10% on a partially diluted basis. As a result, Mr. Sprott and 2176423 Ontario Limited ceased to be insiders of Scottie Resources.
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.
Scottie Resources is located at 1111 West Hastings Street, Suite 905, Vancouver, British Columbia V6E 2J3. 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.comand 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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