Toronto, Ontario--(Newsfile Corp. - December 21, 2022) - Eric Sprott announces that, on December 20, 2022, he acquired ownership of 434,783 Units of Stuhini Exploration Ltd., through a private placement, at $0.23 per unit for aggregate consideration of $100,000.09. Each unit consists of one common share (Share) and one-half of one Share purchase warrant (Warrant), with each whole Warrant entitling the holder to acquire one Share at $0.35 for 24 months from the date of issuance.
As a result of the acquisition, Mr. Sprott now owns and controls 3,234,783 Shares and 217,391 Warrants, representing approximately 9.3% of the outstanding Shares on a non-diluted basis, and approximately 9.9% on a partially diluted basis assuming exercise of the Warrants. Prior to the acquisition, Mr. Sprott owned and controlled 2,800,000 Shares or approximately 9.1% on a non-diluted basis.
The acquisition, combined with prior treasury Shares issuances by Stuhini Exploration, resulted in an ownership decrease, on a partially diluted basis, of approximately 2.7% since the last filing of an Early Warning Report and brings total holdings to under 10% on a partially diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd. (a corporation he beneficially owns) ceased to be insiders of Stuhini Exploration.
The securities 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.
Stuhini Exploration Ltd., is located at 105-1245 West Broadway, Vancouver, BC V6H 1G7. 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).
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