Toronto, Ontario--(Newsfile Corp. - August 5, 2021) - Eric Sprott announces that, today, 2176423 Ontario Ltd. (a corporation he beneficially owns) exercised 20,000,000 common share purchase warrants (Warrants) of American Creek Resources Ltd. at $0.065 per common share (Share) for aggregate consideration of $1,300,000. The exercise of Warrants, combined with prior corporate treasury issuances of Shares, resulted in a decrease in holdings of approximately 2.8% of the outstanding Shares on a partially diluted basis since the date of the last early warning report. Prior to such exercise, Mr. Sprott beneficially owned and controlled 32,500,000 Shares and 32,500,000 Warrants representing approximately 8.1% of the outstanding Shares on a non-diluted basis and approximately 15.0% on a partially diluted basis assuming the exercise of all such Warrants.
Mr. Sprott now beneficially owns and controls 52,500,000 Shares and 12,500,000 Warrants representing approximately 12.4% of the outstanding Shares on a non-diluted basis and approximately 15.0% on a partially diluted basis assuming the exercise of such Warrants. The exercise of Warrants resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
The Shares 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.
American Creek Resources is located at P.O. Box 70, Cardston, Alberta, T0K 0K0. 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 at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92224