Eric Sprott Announces Changes to His Holdings in Silver Sands Resources Corp.

Rhea-AI Summary

Eric Sprott announces the expiry of 87,500 common share purchase warrants of Silver Sands Resources Corp., resulting in a decrease in holdings of approximately 5.7%. Prior to expiry, Mr. Sprott beneficially owned 875,000 Shares and 87,500 Warrants. The ownership change brings total holdings to under 10% on a non-diluted basis.

Toronto, Ontario--(Newsfile Corp. - March 25, 2024) - Eric Sprott announces that on March 23, 2024, 87,500 common share purchase warrants (Warrants) of Silver Sands Resources Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 5.7% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned 875,000 Shares and 87,500 Warrants representing approximately 6.1% of the outstanding Shares on a non-diluted basis and approximately 6.6% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the Warrant expiry, Mr. Sprott now beneficially owns 875,000 Shares representing approximately 6.1% of the outstanding Shares on a non-diluted basis The Warrant expiry combined with previous new share issuances by Silver Sands Resources, resulted in an ownership change, on a partially diluted basis, of approximately 5.7% since the date of the last filing of an Early Warning Report and brings total holdings to under 10% on a non-diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd., ceased to be insiders of Silver Sands Resources.

The securities 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.

Silver Sands Resources is located at Suite 830, 1100 Melville St., Vancouver, British Columbia V6E 4A6. A copy of the early warning report with respect to the foregoing will appear on Silver Sands Resources's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202890

FAQ

How many common share purchase warrants of Silver Sands Resources Corp. expired unexercised?

87,500 common share purchase warrants of Silver Sands Resources Corp. expired unexercised.

What percentage decrease in holdings did the expiry of the warrants result in?

The expiry of the warrants resulted in a decrease in holdings of approximately 5.7%.

What was Mr. Sprott's ownership percentage on a non-diluted basis prior to the expiry of the warrants?

Prior to the expiry of the warrants, Mr. Sprott beneficially owned approximately 6.1% of the outstanding Shares on a non-diluted basis.

Where is Silver Sands Resources Corp. located?

Silver Sands Resources Corp. is located at Suite 830, 1100 Melville St., Vancouver, British Columbia V6E 4A6.

How can the early warning report be accessed?

The early warning report can be accessed on Silver Sands Resources's profile on SEDAR+ at www.sedarplus.ca or by calling Mr. Sprott's office at (416) 945-3294.