September 06, 2016 08:30 ET
TORONTO, ONTARIO--(Marketwired - Sept. 6, 2016) - Eric Sprott announces that between July 4, 2016 and September 2, 2016, he sold, through market transactions on the Toronto Stock Exchange, 3,674,600 common shares of Newmarket Gold Inc., representing approximately 2.1% of the outstanding shares. Mr. Sprott sold the shares at an average price of $4.16 per share for total proceeds of $15.2 million.
Prior to this sale, Mr. Sprott beneficially owned and controlled 30,334,896 shares representing approximately 17.1% of the currently outstanding shares. Mr. Sprott now beneficially owns and controls 26,687,296 shares, representing approximately 15.0% of the outstanding shares.
The shares were sold for investment purposes. Mr. 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.
Newmarket Gold Inc. is located at 1680-200 Burrard Street, Vancouver, B.C. V6C 3N5. A copy of the early warning report with respect to the foregoing will appear with Newmarket Gold's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling (416) 362-7172.
Eric Sprott200 Bay Street, Suite 2600Royal Bank Plaza, South TowerToronto, Ontario M5J 2J2
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