Mr. Eric Sprott, investor, reports
ERIC SPROTT ANNOUNCES HOLDINGS IN WALLBRIDGE MINING COMPANY LIMITED
On Dec. 18, 2019, Eric Sprott purchased 2,967,000 flow-through common shares of Wallbridge Mining Company Ltd., through a private placement, at 95 cents per share for total consideration of $2,818,650. Prior to the acquisition, Mr. Sprott beneficially owned and controlled 121,387,063 common shares and 2.5 million share purchase warrants, representing approximately 21 per cent of the outstanding shares on a non-diluted basis and approximately 21.3 per cent on a partially diluted basis, assuming the exercise of all warrants.
As a result of the acquisition, Mr. Sprott now beneficially owns and controls 124,354,063 shares and 2.5 million warrants, representing approximately 21.2 per cent of the outstanding shares on a non-diluted basis and approximately 21.5 per cent on a partially diluted basis, assuming the exercise of all warrants.
The acquisition resulted in a partially diluted beneficial ownership decrease in holdings of approximately 3.7 per cent of the outstanding shares on a partially diluted basis since the last early warning report and, therefore, the filing of an update to the early warning report.
The securities noted above are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Wallbridge Mining, 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.
Wallbridge Mining is located at 129 Fielding Rd., Lively, Ont., P3Y 1L7. A copy of the early warning report with respect to the foregoing will appear under the company's profile on SEDAR and may also be obtained by calling Mr. Sprott's office at 416-945-3294.
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