Eric Sprott Announces Holdings in Unigold Inc.
Toronto, Ontario--(Newsfile Corp. - September 19, 2019) - Eric Sprott announces that, on September 18, 2019, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership of 10,000,000 units ("Units") of Unigold Inc., on a private placement basis, at a price of $0.10 per Unit for total consideration of $1,000,000. Each Unit consists of one common share of Unigold Inc., and one-half of one common share purchase warrant, each such warrant exercisable for common share at a price of $0.15 per share for two years after issuance. Mr. Sprott now beneficially owns and controls 10,000,000 Common Shares and 5,000,000 Warrants representing approximately 12.8% of the outstanding shares on a non-diluted basis and 18.1% on a partially diluted basis. Mr. Sprott's total consideration of the Units was $1,000,000. Prior to the acquisition, Mr. Sprott did not beneficially own or control any Common Shares of Unigold Inc.
The shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Unigold Inc. including on the open market or through private acquisitions or sell securities of Unigold Inc., including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Unigold Inc. is located at PO Box 936 STN Adelaide, Toronto, ON M5C 2K3. A copy of 2176423 Ontario's early warning report will appear on Unigold Inc. profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott's office (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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