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Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 249,300 common shares (Shares) of Maritime Resources Corp over the TSX Venture Exchange (representing approximately 0.2% of the outstanding shares on a non-diluted basis) at an average price of approximately $2.20 per share for aggregate consideration of approximately $549,208.
Prior to the Acquisition of Shares, Mr. Sprott beneficially owned 10,005,700 Shares and 2,666,700 Share purchase warrants (Warrants) representing approximately 8.1% of the outstanding on a non-diluted basis, and approximately 10.0% on a partially diluted basis assuming exercise of such Warrants
As a result of the acquisition of Shares, Mr. Sprott now beneficially owns 10,255,000 Shares and 2,666,700 Warrants, representing approximately 8.3% of the outstanding Shares on a non-diluted basis and 10.2% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants, being an increase in holdings above 10% and, therefore, the filing of an early warning report.
The Shares were acquired 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 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.
Maritime Resources is located at 3200-650 West Georgia St., c/o Harper Grey LLP, Vancouver, British Columbia, V6B 4P7. A copy of the early warning report with respect to the foregoing will appear on Maritime Resources' 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., 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/274282
