Eric Sprott Announces Investment in Jaguar Mining Inc.
Toronto, Ontario--(Newsfile Corp. - January 8, 2020) - Eric Sprott announces that today 2176423 Ontario Ltd., a corporation beneficially owned by him, purchased 39,020,500 common shares (Shares) of Jaguar Mining Inc. at a price of $0.18 per Share for total consideration of $7,023,690. These Shares were purchased by way of a block trade arrangement with a single vendor over the Toronto Stock Exchange facilitated by a Canadian investment dealer in reliance on the take-over bid exemption in Section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids. 2176423 Ontario Ltd. is beneficially owned by Eric Sprott.
The 39,020,500 Shares represent approximately 5.4% of the issued and outstanding Shares of Jaguar. As of the date hereof, after giving effect to this acquisition, Mr. Sprott beneficially owns and controls 353,716,184 Shares, representing approximately 48.9% of the outstanding Shares. Prior to the acquisition, Mr. Sprott beneficially owned and controlled 314,695,684 Shares representing approximately 43.5% of the outstanding Shares.
The Shares were acquired by Mr. Sprott, through 2176423 Ontario Ltd., for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Jaguar including on the open market or through private acquisitions or sell securities of Jaguar including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Jaguar is located at 5600-100 King Street West, Toronto, Ontario, M5X 1C9. A copy of 2176423 Ontario Ltd.'s early warning report will appear on Jaguar Mining's profile on SEDAR (www.sedar.com) and may also be obtained by contacting Mr. Sprott's office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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