Mr. Eric Sprott, a shareholder, reports
ERIC SPROTT ANNOUNCES INVESTMENT IN GARIBALDI RESOURCES
2176423 Ontario Ltd., a corporation which is beneficially owned by Eric Sprott, has purchased one million common shares of Garibaldi Resources Corp. pursuant to two private agreements at a price of $2.50 per share for total consideration of $2.5-million.
These one million shares, together with the shares previously acquired by 2176423 Ontario through open market purchases since Dec. 21, 2017, being the date of its last early warning report, represent approximately 2.4 per cent of the outstanding shares on a non-diluted basis and approximately 2.3 per cent on a partially diluted basis assuming exercise of share purchase warrants of Garibaldi Resources beneficially owned or controlled by Mr. Sprott. After giving effect to the acquisition, Mr. Sprott beneficially owns or controls 17,318,428 shares and 4,705,562 share purchase warrants (representing approximately 17.1 per cent of the outstanding shares on a non-diluted basis and approximately 20.8 per cent on a partially diluted basis.). Prior to the acquisition, Mr. Sprott beneficially owned or controlled 16,318,428 shares and 4,705,562 warrants (representing approximately 16.1 per cent on a non-diluted basis and 19.9 per cent on a partially diluted basis).
The shares were acquired by Mr. Sprott, through 2176423 Ontario, for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Garibaldi Resources either on the open market or through private acquisitions or sell 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.
2176423 Ontario is relying on the private agreement exemption set out in Section 4.2 of National Instrument 62-104 (Take-Over Bids and Issuer Bids) for the acquisition. A copy of 2176423 Ontario's early warning report will appear on Garibaldi Resources' profile on SEDAR and may also be obtained by calling Mr. Sprott at 416-362-7172 (200 Bay St., Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ont., M5J 2J1).
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