Toronto, Ontario--(Newsfile Corp. - April 16, 2025) - Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 31,924,944 common shares (Shares) of Discovery Silver Corp. pursuant to the automatic conversion of 31,924,444 subscription receipts (Subscription Receipts) of Discovery Silver acquired on February 3, 2025 through a public offering, at $0.90 per Subscription Receipt for total consideration of $28,731,999.60.
Prior to the conversion of Subscription Receipts, Mr. Sprott beneficially owned 89,919,554 Shares representing approximately 22.3% of the outstanding Shares. As a result of the conversion of subscription receipts. Mr. Sprott now beneficially owns 121,843,998 Shares representing approximately 15.3% of the outstanding Shares. The acquisition combined with prior treasury issuances of Shares resulted in a decrease in holdings, on a partially diluted basis, of approximately 7.4% since the date of the last 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 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 Corp. 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 (2176423 Ontario Ltd., 1106-7 King Street East, Toronto, Ontario, M5C 3C5).
