Eric Sprott

October 14, 2016 12:04 ET

Eric Sprott Announces Investment in Jayden Resources Inc.

TORONTO, ONTARIO--(Marketwired - Oct. 14, 2016) - Eric Sprott announces that on September 30, 2016, he acquired (the "Acquisition") beneficial ownership through his holding company, 2176423 Ontario Ltd., of 12,500,000 units ("Units") of Jayden Resources Inc. ("Jayden") at a price of $0.08 per Unit for total consideration of $1,000,000. Each Unit consists of one Jayden common share and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one additional common share of Jayden at a price of $0.12 per share for a period of three years from the closing date.

As of the date hereof, after giving effect to this acquisition, Mr. Sprott beneficially owns and controls 12,500,000 shares and 12,500,000 Warrants of Jayden, representing approximately 15.5% of the issued and outstanding shares on a non-diluted basis, and approximately 26.8% on a partially diluted basis. Prior to the date hereof, Mr. Sprott did not beneficially own any securities of Jayden.

The Units were acquired by Mr. Sprott, through 2176423 Ontario Ltd., for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Jayden either on the open market or through private acquisitions or sell securities of Jayden either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Jayden is located at 1075 West Georgia Street, suite 1980, Vancouver, British Columbia, V6E 3C9. A copy of 2176423 Ontario Ltd.'s early warning report will appear with Jayden's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Mr. Sprott at (416) 362-7172.

Contact Information

  • 2176423 Ontario Ltd.
    Eric Sprott, President
    (416) 362-7172
    200 Bay Street, Suite 2600
    Royal Bank Plaza, South Tower
    Toronto, Ontario M5J 2J2