Eric Sprott Announces Investment in Silver Dollar Resources Inc.
Toronto, Ontario--(Newsfile Corp. - September 17, 2020) - Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership of 4,621,241 common shares (shares) of Silver Dollar Resources Inc., through a private placement, at $1.40 per share for aggregate consideration of approximately $6,469,737.
Mr. Sprott now beneficially owns and controls 6,221,241 shares and 800,000 share purchase warrants (representing approximately 18.0% on a non-diluted basis and 19.9% on a partially diluted basis assuming exercise of such warrants). Prior to this acquisition, Mr. Sprott beneficially owned and controlled 1,600,000 shares and 800,000 share purchase warrants (representing approximately 5.9% on a non-diluted basis and 8.6% on a partially diluted basis). This increase in holdings to over 10% of the outstanding shares requires the filing of an early warning report.
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 Silver Dollar 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.
Silver Dollar is located at Suite 416, 108-800 Kelly Road, Victoria, British Columbia, V9B 6J9. A copy of 2176423 Ontario's early warning report will appear on Silver Dollar Resource's profile on SEDAR at www.sedar.com may also be obtained by calling Mr. Sprott's office at (416) 362-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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