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Golden Tag Resources Ltd
Symbol GOG
Shares Issued 216,324,566
Close 2022-12-06 C$ 0.225
Market Cap C$ 48,673,027
Recent Sedar Documents

Golden Tag investor Sprott to vote for La Parrilla deal

2022-12-14 17:53 ET - News Release

Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES VOTING SUPPORT AGREEMENT FOR GOLDEN TAG RESOURCES LTD.'S PROPOSED TRANSACTION WITH FIRST MAJESTIC SILVER CORP.

Further to the press release of Golden Tag Resources Ltd. dated Dec. 7, 2022, Eric Sprott and 2176423 Ontario Ltd., a company which Mr. Sprott beneficially owns, have entered into a voting support agreement with Golden Tag in connection with Golden Tag's proposed transaction pursuant to an asset purchase agreement with First Majestic Silver Corp. and its affiliate to acquire 100 per cent of the assets of La Parrilla silver mine complex. Mr. Sprott understands that under the proposed transaction, among other things, Golden Tag will issue 143,673,684 common shares or $20-million (U.S.) at a deemed price of 19 cents per share and complete two deferred payments, payable in either cash or Golden Tag common shares, at the sole election of Golden Tag, upon certain milestones with respect to La Parrilla being met.

Mr. Sprott and 2176423 Ontario hold 41,604,282 common shares and two million warrants, representing approximately 19.2 per cent of the issued and outstanding common shares on a non-diluted basis and approximately 20.0 per cent on a partially diluted basis assuming exercise of such warrants.

Mr. Sprott intends to hold the Golden Tag shares through 2176423 Ontario for investment purposes and to support the proposed transaction, and, depending on market or other conditions, may acquire additional securities of Golden Tag. If the arrangement does not close or the voting support agreement is terminated, Mr. Sprott may acquire additional securities of Golden Tag 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.

A copy of 2176423 Ontario's early warning report will appear on Golden Tag's profile on SEDAR and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario, 200 Bay St., Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ont., M5J 2J1).

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