Eric Sprott Announces Holdings in RNC Minerals
Toronto, September 20, 2018 - Eric Sprott announces that today he purchased (through his holding company, 2176423 Ontario Ltd.) over the Toronto Stock Exchange, 561,000 common shares (representing approximately 0.1% of the outstanding shares) of Royal Nickel Corporation (doing business as RNC Minerals). The shares were purchased at $0.4284 per share for total consideration of $240,332. This press release is being issued pursuant to Canadian early warning requirements because Mr. Sprott's beneficial holdings of shares has increased to greater than 10% of outstanding shares of RNC Minerals.
Mr. Sprott now beneficially owns and controls 40,216,042 shares representing approximately 10.1% of the outstanding shares of RNC Minerals on a non-diluted basis. Prior to the foregoing sales, he beneficially owned and controlled 39,655,042 shares representing approximately 9.9% of the outstanding shares of RNC Minerals on a non-diluted basis.
The shares were bought for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
RNC Minerals is located at 357 Bay Street, Suite 800, Toronto, Ontario, M5H 2T7. A copy of 2176423 Ontario Ltd.'s early warning report will appear on RNC's profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7172.
2176423 Ontario Ltd.
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1