Toronto, Ontario–(Newsfile Corp. – March 8, 2021) – Eric Sprott announces that on March 8, 2021, through The Sprott Foundation, an entity he controls, he disposed of 23,703,688 common shares of Garibaldi Resources Corp. (the “Corporation“) pursuant to a private agreement in consideration of 4,211,719 working capital units of Eskay Mining Corp. at deemed consideration of $10,782,000 (or approximately $0.455 per common share), each such working capital unit consisting of one common share of Eskay Mining and one common share purchase warrant. Prior to such disposition of common shares of the Corporation and due to previous treasury issuances of common shares by the Corporation, Mr. Sprott beneficially owned and controlled 23,703,688 common shares representing approximately 19.5% of the outstanding common shares of the Corporation.
As a result of the disposition, Mr. Sprott now beneficially owns and controls no common shares of the Corporation, resulting in a decrease in controlled holdings of approximately 20.4% of the outstanding common shares of the Corporation from what was reported in the most recent Early Warning Report.
The Corporation is located at 409 Granville Street, Suite 1150, Vancouver, British Columbia, V6C 1T2. A copy of The Sprott Foundation’s early warning report will appear on the Corporation’s profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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