Toronto, Ontario--(Newsfile Corp. - April 5, 2021) - Eric Sprott announces that, as a result of Pacton Gold Inc.'s treasury issuances of common shares and subsequent consolidation ("Consolidation") of its common shares on a 10:1 basis on June 8, 2020, Mr. Sprott's ownership of common shares through 2176423 Ontario Ltd., a corporation he beneficially owns, decreased to below 10% (and by approximately 11.4% of the outstanding common shares on a partially diluted basis) since the prior early warning report.
Prior to the Consolidation, Mr. Sprott beneficially owned and controlled 8,695,700 common shares and 8,695,700 common share purchase warrants representing approximately 3.6% of the outstanding common shares on a non-diluted basis and approximately 7.0% on a partially diluted basis assuming the exercise of all warrants. Immediately after the Consolidation, Mr. Sprott beneficially owned and controlled 869,570 common shares and 869,570 warrants, representing the same foregoing percentage holdings.
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.
Pacton Gold is located at 200 Burrard Street, Suite 1680, Vancouver, BC V6C 3L6. 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's office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79464