Toronto, Ontario--(Newsfile Corp. - March 19, 2020) - Eric Sprott announces that today, 6,000,000 common share purchase warrants ("Warrants") of Tudor Gold Corp. (the "Company") (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised resulting in a decrease in holdings of approximately 2.8% of the outstanding common shares on a partially diluted basis since the filing of his most recent early warning report.
Prior to the expiry of the 6,000,000 Warrants, Mr. Sprott beneficially owned and controlled 20,190,002 common shares and 11,497,917 Warrants representing approximately 13.9% of the outstanding common shares on a non-diluted basis and approximately 20.3% on a partially diluted basis assuming the exercise of these Warrants. As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 20,190,002 common shares and 5,497,917 Warrants representing approximately 13.9% of the outstanding common shares on a non-diluted basis and approximately 17.1% on a partially diluted basis assuming the exercise of these Warrants. The expiry of Warrants resulted in a partially diluted beneficial ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
Mr. Sprott has a long term view of the investment and, currently, does not have any plan to acquire or dispose of additional securities of the Company. However, Mr. Sprott may develop such plans in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Tudor Gold is located at 837 West Hastings Street, Suite 205, Vancouver, BC V6C 3N6. A copy of the early warning report with respect to the foregoing will appear on the Company's profile 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 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario, M5J 2J1).
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