Toronto, Ontario--(Newsfile Corp. - November 27, 2023) - Eric Sprott announces that, on November 24, 2023, 625,000 common share purchase warrants (Warrants) of Newfoundland Discovery Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 9.3% 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 5,985,000 Shares and 625,000 Warrants representing approximately 6.4% of the outstanding Shares on a non-diluted basis and approximately 7.0% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns 5,985,000 Shares representing approximately 6.4% of the outstanding Shares on a non-diluted basis. The Warrant expiry combined with previous new share issuances by Newfoundland Discovery resulted in an ownership change, on a partially diluted basis, of approximately 9.3% since the date of the last filing of an Early Warning Report and brings total holdings to under 10% on a non-diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd., ceased to be insiders of Newfoundland Discovery Corp.
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.
Newfoundland Discovery's is located at 700-838 W Hastings St., Vancouver, British Columbia, V6C 0A6. A copy of the early warning report with respect to the foregoing will appear on Newfoundland Discovery's profile on SEDAR+ at 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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