Eric Sprott Announces Holdings in Goldstorm Metals Corp.
Toronto, Ontario--(Newsfile Corp. - November 11, 2022) - Eric Sprott announces that he acquired 8,776,922 common shares of Goldstorm Metals Corp. (Goldstorm Shares) through 2176423 Ontario Ltd. (a corporation beneficially owned by him) pursuant to the closing of a spin-out arrangement transaction effected through a statutory plan of arrangement (Arrangement) between Tudor Gold Corp. and Goldstorm Metals completed on November 10, 2022.
As a result of the Arrangement, among other things, (i) the holder of each common share of Tudor Gold received 0.251 Goldstorm Share and (ii) the holder of each common share purchase warrant of Tudor Gold (Tudor Warrant) will be entitled upon exercise thereof to receive 0.251 Goldstorm Share. Mr. Sprott beneficially owned 34,967,819 common shares of Tudor Gold and 1,425,000 Tudor Warrants.
Prior to the Arrangement, Mr. Sprott did not beneficially own or control any securities of Goldstorm Metals. Immediately after giving effect to the Arrangement, Mr. Sprott beneficially owns 8,776,922 Goldstorm Shares and the right to receive 357,675 Goldstorm Shares upon due exercise of the 1,425,000 Tudor Warrants, representing approximately 13.7% of the outstanding Goldstorm Shares on a non-diluted basis and approximately 14.2% on a partially diluted basis assuming exercise of such Tudor Warrants.
The Goldstorm Shares are held for investment purposes. Mr. Sprott has a long-term view of the investments 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.
Goldstorm Metals Corp., is located at 789-999 West Hastings Street, Vancouver, British Columbia, V6C 2W2. A copy of the early warning report with respect to the foregoing will appear on Goldstorm Metals profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com 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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