Eric Sprott

January 04, 2017 08:30 ET

Eric Sprott Announces Investment in Kirkland Lake Gold Ltd.

TORONTO, ONTARIO--(Marketwired - Jan. 4, 2017) - Eric Sprott announces that on January 3, 2017, he purchased, through a market transaction on the Toronto Stock Exchange, 1,000 common shares of Kirkland Lake Gold Ltd. (the "Corporation") at a price of $7.21 per share for total consideration of $7,210 (the "Acquisition"). This press release is being issued pursuant to Canadian early warning reporting requirements because this is Mr. Sprott's first trade of shares since the Corporation's plan of arrangement with Kirkland Lake Gold Inc. effective November 30, 2016, pursuant to which his ownership of shares decreased to, and continues to be, less than 10% of the Corporation's issued and outstanding shares.

As of the date hereof, after giving effect to the Acquisition, Mr. Sprott beneficially owns and controls directly and indirectly 19,179,195 shares of the Corporation and options to acquire 150,000 shares, representing approximately 9.5% of the outstanding shares on a non-diluted basis and also on a partially diluted basis assuming exercise of his vested options. Prior to this acquisition, Mr. Sprott owned, directly and indirectly, 19,178,195 shares and options to acquire 150,000 shares, representing approximately 9.5% of the outstanding shares.

The shares were purchased by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Corporation either on the open market or through private acquisitions or sell 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.

The Corporation is located at 200 Bay Street, Suite 3120, Toronto, Ontario, M5J 2J1. A copy of Mr. Sprott's 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 Mr. Sprott at (416) 362-7172.

Contact Information

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