Eric Sprott Announces Holdings in SpinCos of Aurwest Resources Corporation

Toronto, Ontario–(Newsfile Corp. – October 24, 2022) – Eric Sprott announces he and 2176423 Ontario Ltd. (a corporation beneficially owned by him) acquired common shares of five newly formed corporations: 1377314 B.C. LTD., 1377319 B.C. LTD., 1377326 B.C.LTD., 1377331 B.C. LTD., and 1377333 B.C. LTD. (collectively, SpinCos), pursuant to the closing of the plan of arrangement (Arrangement) between Aurwest Resources Corporation (Aurwest), each of the SpinCos and 1377312 B.C. LTD (Stellar Stars SpinCo) on September 27, 2022, as announced by Aurwest on October 3, 2022.

Pursuant to the Arrangement, among other things, (i) the holder of each common share of Aurwest ultimately received 0.0051 common shares of each of the SpinCos, and (ii) the holder of each common share purchase warrant of Aurwest (Aurwest Warrant) is entitled upon exercise thereof to receive one common share of Aurwest, 0.0051 common shares of each of the SpinCos and, subject to certain financing conditions, 0.3 common shares of Stellar Stars SpinCo. Mr. Sprott currently beneficially owns 12,222,222 common shares of Aurwest and 12,222,222 Aurwest Warrants.

Prior to the Arrangement, Mr. Sprott did not beneficially own or control any securities of the SpinCos. After giving effect to the arrangement, Mr. Sprott beneficially owns and controls 62,333 common shares of each of the SpinCos and the right to receive 62,333 common shares of each of the SpinCos upon due exercise of the Aurwest Warrants he beneficially owns, representing approximately 12.5% of the outstanding common shares of each of the SpinCos on a non-diluted basis and approximately 22.2% on a partially diluted basis assuming exercise of such Aurwest Warrants.

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.

Each of the SpinCos, is located at Suite 650, 340 – 12th Avenue SW, Calgary, Alberta T2R 1L5. A copy of the early warning report with respect to the foregoing will appear on each of SpinCo’s profiles 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/141668