Eric Sprott

April 07, 2016 18:26 ET

Eric Sprott Announces Acquisition of Securities of Inventus Mining Corp.

TORONTO, ONTARIO--(Marketwired - April 7, 2016) - Eric Sprott ("Sprott") announces that he acquired (the "Acquisition") ownership and control of 6,666,666 units ("Units") (each comprised of one common share ("Share") and one-half of one share purchase warrant ("Warrant")) of Inventus Mining Corp. (the "Corporation") on September 12, 2013. The Units were acquired on a private placement basis, at $0.15 per Unit. The Warrants are exercisable at $0.20 per share, and initially expired on September 12, 2015 but were extended to expire on September 12, 2017. The Acquisition represents 7.8 % of the currently issued and outstanding Shares on a non-diluted basis and 11.3% on a partially diluted basis.

As of the date hereof, after giving effect to the Acquisition, Sprott beneficially owns, or exercises control or direction over: (i) 7,322,666 Shares; and (ii) 3,333,333 Warrants. Based on the foregoing, Sprott beneficially owns, or exercises control or direction over, approximately 8.6% of the currently issued and outstanding Shares on a non-diluted basis, and approximately 12% of the currently issued and outstanding Shares on a partially diluted basis.

The Shares and Warrants were acquired for investment purposes. Sprott has a long-term view of the investment and may acquire additional Shares either on the open market or through private acquisitions or sell the Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Sprott at (416) 362-7172.

Contact Information

  • Eric Sprott
    (416) 362-7172
    200 Bay Street, Suite 2600
    Royal Bank Plaza, South Tower
    Toronto, Ontario M5J 2J2