The Prospector News

Eric Sprott Announces Investment in Balmoral Resources Ltd.

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Eric Sprott Announces Investment in Balmoral Resources Ltd.






Eric Sprott announces that, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership of 4,255,500 common shares of Balmoral Resources Ltd. over the Toronto Stock Exchange (representing approximately 2.4% of the outstanding shares on a non-diluted basis) at $0.4948 per share for aggregate consideration of approximately $2,105,621.


Mr. Sprott now beneficially owns and controls 20,385,853 shares and 2,941,176 warrants (representing approximately 11.4% on a non-diluted basis and 12.9% on a partially diluted basis assuming exercise of such warrants). Prior to this acquisition, Mr. Sprott beneficially owned and controlled 16,130,353 shares and 2,941,176 warrants (representing approximately 9.1% on a non-diluted basis and 10.5% on a partially diluted basis).


The shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. As previously disclosed on March 2, 2020, 2176423 Ontario has entered into a voting and support agreement with Wallbridge Mining Company Ltd. in connection with its proposed acquisition of all the outstanding shares of Balmoral Resources by way of a plan of arrangement. Mr. Sprott intends to hold the shares for investment purposes and to support the transaction, and may acquire additional shares from time to time, depending on market conditions. If the plan of arrangement does not close, Mr. Sprott may acquire additional securities of Balmoral Resources including on the open market or through private acquisitions or sell 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.


Balmoral Resources is located at Suite 1750-700 West Pender St, Vancouver, British Columbia, V6C 1G8. A copy of 2176423 Ontario’s early warning report will appear on Balmoral Resource’s profile on SEDAR at may also be obtained by calling Mr. Sprott’s office (416) 362-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).


Posted March 9, 2020

Share this news article


White Gold Corp. Intersects Additional Near Surface High-Grade Gold Mineralization of 8.94 g/t Gold over 18.29m including 21.73 g/t Gold over 6.10m Extending Mineralization Along Strike at the Betty Ford Target, Yukon, Canada

White Gold Corp. (TSX-V: WGO) (OTCQX: WHGOF) (FRA: 29W) is please... READ MORE

December 8, 2022

Appia Announces Final Closing of Non-Brokered Private Placement Financing for a Total of $3,666,000

Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQX:APAAF) (Ge... READ MORE

December 8, 2022

Defense Metals Closes Oversubscribed Private Placement of $6.1 Million

Defense Metals Corp. (TSX-V: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased ... READ MORE

December 8, 2022

Mayfair Gold Reports 1.85 g/t Gold over 130.5m Including 5.14 g/t Au over 29.2m from Fenn-Gib Drill Program

105,500m of 110,000m Infill and Expansion Drill Program Complete... READ MORE

December 8, 2022

HighGold Mining Intersects 15.5 Meters at 4.04 g/t Gold Equivalent in Step-out drilling at Ellis Zone Discovery, Johnson Tract Project, Alaska

Including 25.70 g/t Gold, 0.81% Zinc over 1.5 meters HighG... READ MORE

December 8, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News