Toronto, Ontario--(Newsfile Corp. - June 5, 2019) - Eric Sprott announces that today, 2,425,000 common share purchase warrants ("Warrants") of Genesis Metals Corp. (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 2.1% of the outstanding common shares on a partially diluted basis. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 4,850,000 common shares and 2,425,000 Warrants representing approximately 4.4% of the outstanding common shares on a non-diluted basis and approximately 6.5% on a partially diluted basis assuming the exercise of all Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 4,850,000 common shares representing approximately 4.4% of the outstanding common shares on a non-diluted basis.
The Warrants expiry, together with past corporate transactions by Genesis Metals, resulted in Mr. Sprott's beneficial ownership to decrease to less than 10% since Mr. Sprott's last early warning report filing.
The securities noted above 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.
Genesis Metals is located at 1020-800 West Pender Street, Vancouver, British Columbia, V6C 2V6. 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 ("SEDAR") at www.sedar.com and may also be obtained by calling Mr. Sprott at (416) 362-7171.
2176423 Ontario Ltd.
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1
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