The Conversation (0)
Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 20,000,000 Common Shares (Shares) of Gold Terra Resource Corp. at $0.10 per Share for total consideration of $2,000,000. A total of 5,000,000 Shares were purchased through a private placement, and 15,000,000 Shares were purchased by way of a share purchase agreement concurrent with such private placement.
Prior to the acquisition, Mr. Sprott beneficially owned and controlled 30,000,000 Shares representing approximately 7.3% of the outstanding Shares. Mr. Sprott now beneficially owns and controls 50,000,000 Shares representing approximately 10.7% of the outstanding Shares, being an increase in holdings to above 10% and, therefore, the filing of an early warning report.
The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment 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.
Gold Terra Resource's address is Suite 410 - 325 Howe Street, Vancouver, British Columbia, V6C 1Z7. A copy of the early warning report with respect to the foregoing will appear on Gold Terra Resource'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/276308
