TORONTO, March 4, 2019 - Eric Sprott announces that on March 2, 2019, 40,000,000 common share purchase warrants (“Warrants”) of Northern Superior Resources Inc. (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing approximately 9.1% of the outstanding common shares on a partially diluted basis. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 4,000,000 common shares and 40,000,000 Warrants representing approximately 11.4% of the outstanding common shares on a non-diluted basis and approximately 20.5% on a partially diluted basis assuming the exercise of all Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 4,000,000 common shares representing approximately 11.4% of the outstanding common shares on a non-diluted basis.
The Warrants expiry resulted in a partially diluted beneficial ownership change of greater than 2% 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 either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Northern Superior is located at 7-1351C Kelly Lake Road, Sudbury, ON P3E 5P5. A copy of the early warning report with respect to the foregoing will appear on Northern Superior'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