Toronto, Ontario--(Newsfile Corp. - May 13, 2019) - Eric Sprott announces that on May 13, 2019, through 2176423 Ontario Ltd. (a corporation beneficially owned by him), acquired 10,221,732 common shares ("Shares") of Pure Nickel Inc. ("Acquisition") representing approximately 13.0% of the outstanding Shares on a non-diluted basis. The consideration for the Shares was 102 units of the Neal Development Limited Partnership ("Neal LP"), valued at approximately $0.02 per Share for total consideration of $204,434.64. Prior to the Acquisition, Mr. Sprott did not beneficially own or control any Shares of Pure Nickel Inc.
The Acquisition resulted in Mr. Sprott becoming an insider of Pure Nickel and the filing of an 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 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.
Pure Nickel is located at 2700-161 Bay Street, Toronto, ON M5J 2S1. A copy of the early warning report with respect to the foregoing will appear on Pure Nickel's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and may also be obtained by calling Mr. Sprott at (416) 362-7171.
2176423 Ontario Ltd.
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1
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