Toronto, Ontario--(Newsfile Corp. - July 16, 2019) - Eric Sprott announces that on July 15, 2019, 2,272,728 common share purchase warrants ("Warrants") of Argentum Silver Corp. (held by Sprott Mining Inc., a corporation he beneficially owns) were exercised (at $0.11 per common share for total consideration of $250,000.08) and, together with Argentum Silver's previous treasury issuances, represents a decrease in holdings of approximately 7.3% of the outstanding common shares on a partially diluted basis since the filing of Mr. Sprott's last early warning report. Prior to the exercise of these Warrants, Mr. Sprott beneficially owned and controlled 15,000,000 common shares and 15,000,000 Warrants representing approximately 49.2% of the outstanding common shares on a non-diluted basis and approximately 65.9% on a partially diluted basis assuming the exercise of all Warrants.
As a result of the Warrant exercise, Mr. Sprott now beneficially owns and controls 17,272,728 common shares and 12,727,272 Warrants representing approximately 52.7% of the outstanding common shares on a non-diluted basis and approximately 65.9% on a partially diluted basis assuming the exercise of all Warrants.
The Warrants exercise resulted in a partially diluted beneficial ownership change of greater than 2% of the outstanding common shares and the filing of an early warning report.
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.
Argentum Silver is located at 400-365 Bay Street, Toronto, Ontario, M5H 2V1. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and may also be obtained by calling Mr. Sprott at (416) 362-7171.
Sprott Mining Inc.
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1