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Eric Sprott announces that, today, Sprott Mining Inc., a corporation which is beneficially owned by him, sold 1,400,000 common shares (Shares) of Discovery Silver Corp., over the Toronto Stock Exchange at a price of approximately $7.906 per share for aggregate consideration of $11,067,980.
Prior to the disposition of Shares, Mr. Sprott beneficially owned 82,046,998 Shares representing approximately 10.2% of the outstanding Shares. As a result of the disposition of Shares, Mr. Sprott now beneficially owns 80,646,998 Shares representing approximately 9.99% of the outstanding Shares. The disposition, combined with previous issuances of Shares, resulted in a decrease in holdings of approximately 0.8% since the date of the last filing of an Early Warning Report and brings total holdings to under 10%. As a result, Mr. Sprott and Sprott Mining ceased to be insiders of Discovery Silver Corp.
The securities noted above 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.
Discovery Silver is located at 701-55 University Ave, Toronto, Ontario, M5J 2H7. A copy of the early warning report with respect to the foregoing will appear on Discovery Silver's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (Sprott Mining Inc., 1106-7 King Street East, Toronto, Ontario, M5C 3C5).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277383
