2022-11-11 | TSXV:GSTM | Press release

Toronto, Ontario–(Newsfile Corp. – November 11, 2022) – Eric Sprott announces that he has acquired 8,776,922 common shares of Goldstorm Metals Corp. (Goldstorm shares) through 2176423 Ontario Ltd. (a company beneficially owned by him) pursuant to the closing of a spin-out arrangement transaction effected by way of a statutory plan of arrangement (arrangement) between Tudor Gold Corp. and Goldstorm Metals concluded on November 10, 2022.

As a result of the Arrangement, among other things, (i) the holder of each Tudor Gold Common Share received 0.251 of a Goldstorm Share and (ii) the holder of each Tudor Gold Common Share Purchase Warrant ( Tudor) shall be entitled, upon exercise thereof, to receive 0.251 Goldstorm shares. Mr. Sprott beneficially owned 34,967,819 common shares of Tudor Gold and 1,425,000 Tudor warrants.

Prior to the Arrangement, Mr. Sprott did not beneficially own or control any securities of Goldstorm Metals. Immediately after giving effect to the Arrangement, Mr. Sprott beneficially owns 8,776,922 Goldstorm Shares and the right to receive 357,675 Goldstorm Shares upon the proper exercise of the 1,425,000 Warrants of Tudor, representing approximately 13.7% of the outstanding shares of Goldstorm on a non-diluted basis and approximately 14.2% on a partially diluted basis assuming the exercise of such Tudor warrants.

Goldstorm Shares are held for investment purposes. Mr. Sprott takes a long-term view of 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 assignments in the future depending on market conditions, plan reformulations and/or other relevant factors.

Goldstorm Metals Corp., is located at 789-999 West Hastings Street, Vancouver, British Columbia, V6C 2W2. A copy of the early warning report regarding the above will appear on the Goldstorm Metals profile on the Electronic Document Analysis and Recovery System at www.sedar.com and can 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/143952

Comments are closed.