Toronto, June 19, 2023 - Eric Sprott announces that on June 18, 2023, 8,000,000 common share purchase warrants (Warrants) of Palamina Corp., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in beneficial ownership of approximately 9.5% 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 8,000,000 Shares and 8,000,000 Warrants representing approximately 12.3% of the outstanding Shares on a non-diluted basis and 21.8% on a partially-diluted basis assuming the exercise of such Warrants. As a result of the Warrant expiry, Mr. Sprott now owns 8,000,000 Shares representing approximately 12.3% of the outstanding Shares on a non-diluted basis.
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.
Palamina Corp. is located at 145 King Street West, Suite 2870, Toronto, ON M5H 1J8. A copy of the early warning report with respect to the foregoing will appear on Palamina'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 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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