Toronto, Ontario--(Newsfile Corp. - December 12, 2018) - Eric Sprott announces that he holds 15 million common shares (shares) of Redstar Gold Corp. representing approximately 5.0% of the outstanding shares. This press release is being issued pursuant to Canadian early warning requirements because the sale of shares, as described below, has resulted in Mr. Sprott's beneficial holdings of shares to decrease to less than 10% of the outstanding shares.
On December 6, 2018, Eric Sprott sold 15 million shares at a price of $0.03 per share ($450,000), representing approximately 5.0% of the outstanding shares in a private transaction. Prior to this disposition, Mr. Sprott held, 30 million shares, representing approximately 9.99% of the outstanding shares.
The shares are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities either on the open market or through private acquisitions or sell the 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.
Redstar Gold is located at 409 Granville Street, Suite 1500, Vancouver, British Columbia, V6C 1T2. A copy of Mr. Sprott's early warning report will appear on Redstar Gold's profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7171.
Mr. Eric Sprott
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1