Eric Sprott Announces Investment in Garibaldi Resources
TSX VENTURE: GGI
Toronto, Ontario--(Newsfile Corp. - December 21, 2017) - Eric Sprott announces that, between November 9, 2017 and December 21, 2017, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership of 2,782,300 common shares of Garibaldi Resources Corp. through the facilities of the TSX Venture Exchange (representing in total approximately 2.9% of the outstanding shares on a non-diluted basis and 2.7% on a partially diluted basis assuming exercise of all warrants of Garibaldi Resources beneficially owned or controlled by Mr. Sprott) at prices ranging from $1.75 to $4.12 per share for aggregate consideration of $8,221,368.34.
Mr. Sprott now owns or controls 14,887,528 shares and 4,705,562 share purchase warrants (representing approximately 15.4% on a non-diluted basis and 19.3% on a partially diluted basis). Prior to these acquisitions, Mr. Sprott beneficially owned or controlled 11,271,895 shares and 5,538,895 warrants (representing approximately 11.7% on a non-diluted basis and 16.5% on a partially diluted basis based on the shares then outstanding).
The shares were acquired by Mr. Sprott, through 2176423 Ontario Ltd. for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Garibaldi Resources Corp. either on the open market or through private acquisitions or sell securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Garibaldi Resources Corp. is located at 409 Granville Street, Suite 1150, Vancouver, British Columbia, V6C 1T2. A copy of 2176423 Ontario Ltd.'s early warning report will appear on Garibaldi Resources Corp.'s profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott at (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).