Toronto, Ontario--(Newsfile Corp. - September 12, 2019) - Eric Sprott announces that, on September 12, 2019, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership of 5,714,286 common shares of Dolly Varden Silver Corp., representing approximately 6.8% of the outstanding shares on a non-diluted basis at price of $0.235 per share for aggregate consideration of approximately $1,342,857.
Mr. Sprott now owns or controls 10,714,286 shares (representing approximately 12.8% of the outstanding shares). Prior to the acquisition, Mr. Sprott beneficially owned or controlled 5,000,000 shares (representing approximately 6% of the outstanding shares).
The shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Dolly Varden Silver including on the open market or through private acquisitions or sell securities of Dolly Varden Silver including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Dolly Varden Silver is located at Suite 1130-1055 W. Hastings Street, Vancouver, BC V6E 2E9. A copy of 2176423 Ontario's early warning report will appear on Dolly Varden Silver's profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott's office (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).