Eric Sprott Announces Holdings in Orefinders Resources Inc.
Toronto, February 28, 2022 - Eric Sprott announces that, today, 6,428,580 common share purchase warrants (Warrants) of Orefinders Resources Inc., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 7.4% 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 20,000,016 Shares and 10,000,008 Warrants representing approximately 8.1% of the outstanding Shares on a non-diluted basis and approximately 11.7% on a partially diluted basis assuming the exercise of such Warrants. As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 20,000,016 Shares and 3,571,428 Warrants representing approximately 8.1% of the outstanding Shares on a non-diluted basis and approximately 9.4% on a partially diluted basis assuming the exercise of such Warrants. Since the Warrant expiry brings total holdings to under 10% on a partially diluted basis, Mr. Sprott and 2176423 Ontario Limited ceased to be insiders of Orefinders Resources.
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.
Orefinders Resources is located at 55 University Avenue, Suite 1805, Toronto, ON, M5J 2H7. 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).