Toronto, Ontario--(Newsfile Corp. - June 13, 2019) - Eric Sprott announces that he beneficially owns and controls, directly and indirectly 48,813,542 common shares (shares) of Royal Nickel Corporation, representing approximately 8.8% of the outstanding shares on a non-diluted basis. This press release is being issued pursuant to Canadian early warning requirements because the disposition of shares, as described below, combined with Royal Nickel's corporate actions, has resulted in Mr. Sprott's beneficial holdings of shares to decrease to less than 10% of the outstanding shares.
On June 12, 2019, The Sprott Foundation, an organization that is deemed controlled by Mr. Sprott, disposed 100,000 shares over the Toronto Stock Exchange at a price of $0.48 per share ($48,240 total), representing approximately 0.02% of the outstanding shares. Prior to this disposition, Mr. Sprott beneficially owned and controlled, directly and indirectly, 48,913,542 shares, representing approximately 8.8% of the outstanding shares on a non-diluted basis.
The shares 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.
Royal Nickel Corporation is located at 141 Adelaide Street West, Suite 1608, Toronto, Ontario, M5H 3L5. A copy of The Sprott Foundation's early warning report will appear on Royal Nickel's profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7171.
