Eric Sprott Announces Changes to His Holdings in Aurwest Resources Corporation and 'SpinCos'
Toronto, June 16, 2023 - Eric Sprott announces that on June 15, 2023 his beneficial ownership of shares of Aurwest Resources Corp. and of each of 1377314 B.C. LTD, 1377319 B.C. LTD., 1377326 B.C.LTD., 1377331 B.C. LTD., and 1377333 B.C. LTD. (each, a SpinCo) decreased due to expiry of common share purchase warrants of Aurwest Resources (Aurwest Warrants).
Aurwest Resources Corp. - A total of 12,222,222 Aurwest Warrants (beneficially owned by him and 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised, resulting a decrease in beneficial ownership of approximately 10% of the outstanding common shares of Aurwest Resources (Aurwest Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of the Aurwest Warrants, Mr. Sprott beneficially owned 12,222,222 Aurwest Shares and 12,222,222 Aurwest Warrants, representing approximately 12.1% of the outstanding Aurwest Shares on a non-diluted basis and 21.6% on a partially-diluted basis assuming the exercise of such Aurwest Warrants. As a result of the Aurwest Warrant expiry. Mr. Sprott beneficially owns 12,222,222 Aurwest Shares, representing approximately 12.1% of the outstanding Aurwest Shares on a non-diluted basis.
SpinCos - In addition, as a result of the expiry of the Aurwest Warrants, Mr. Sprott's beneficial ownership of rights to acquire 62,333 common shares of each of the SpinCos also expired, resulting in a decrease in beneficial ownership of approximately 10% of the outstanding common shares of each SpinCo on a partially diluted basis since the date of the last early warning report. Prior to the expiry of the Aurwest Warrants, Mr. Sprott beneficially owned 62,333 common shares of each of the SpinCos and rights to acquire 62,333 common shares of each of the SpinCos, representing approximately 12.2% of the outstanding common shares of each SpinCo on a non-diluted basis and approximately 21.8% on a partially diluted basis assuming exercise of the Aurwest Warrants. Mr. Sprott now beneficially owns 62,333 common shares of each SpinCo, representing 12.2% of such outstanding shares on a non-diluted basis.
The securities noted above are held for investment purposes. Mr. Sprott has a long-term view of the investments 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.
Aurwest Resources Corp. and each of the SpinCos., are located at Suite 650, 340 - 12th Avenue SW, Calgary, Alberta, T2R 1L5. A copy of the early warning reports with respect to the foregoing will appear on Aurwest Resources' and the SpinCos' profiles, as applicable, 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).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170178