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Eric Sprott announces that, on October 17, 2025, 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 4,637,960 common shares (Shares) of Silver Mining Ltd. (Silverco Mining) (being approximately 14.2% of the outstanding Shares) pursuant to the closing of the reverse takeover transaction (Transaction) of Quetzal Copper Corp. (now named "Silverco Mining Ltd.") with Silverco Mining Corp. (Target). The closing of the Transaction is further described in the news release of Silverco Mining dated October 17, 2025. In connection with the Transaction shareholders of the Target received 1.88 Shares for each common share of the Target they held, with each such Share having a deemed price of $1.60.
Prior to the Transaction, Mr. Sprott did not own any Shares, but beneficially owned and controlled 2,467,000 common shares of the Target. In connection with the Transaction, Mr. Sprott acquired 4,637,960 Shares for total deemed consideration of $7,420,736.
The Shares are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Silverco Mining 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.
Silverco Mining's address is 1723 - 595 Burrard Street, Vancouver, British Columbia, V7X 1J1. A copy of the early warning report with respect to the foregoing will appear on Silverco Mining's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, ON M5C 3C5).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271010
