Toronto, Ontario--(Newsfile Corp. - May 11, 2023) - Eric Sprott announces that, on May 10, 2023, 5,500,000 common share purchase warrants (Warrants) of C2C Gold Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in control of approximately 10.3% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 11,000,000 Shares and 5,500,000 Warrants representing approximately 9.7% of the outstanding Shares on a non-diluted basis and 13.8% on a partially-diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry. Mr. Sprott now owns and controls 11,000,000 Shares representing approximately 9.7% of the outstanding Shares on a non-diluted basis. The Warrants expiry combined with previous new share issuances by C2C Gold resulted in an ownership change, on a partially diluted basis, of approximately 10.3% since the date of the last filing of an Early Warning Report and brings total holdings to under 10% on a non-diluted basis. As a result, Mr. Sprott and 2176423 Ontario Limited ceased to be insiders of C2C Gold Corp.
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.
C2C Gold Corp., is located at Suite 1221 - 1771 Robson Street, Vancouver, BC V6G 1C9. 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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