The Financial Comet
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

The Financial Comet

Investing

Eric Sprott Announces Securities of Summa Silver Corp.

by admin August 2, 2025
August 2, 2025
Eric Sprott Announces Securities of Summa Silver Corp.

Exchanged for Securities of Silver47 Exploration Corp. Pursuant to the Plan of Arrangement

Eric Sprott announces that, on August 1, 2025, 2176423 Ontario Ltd. (a corporation beneficially owned by him) acquired 10,383,434 common shares of Silver47 Exploration Corp., (Silver47 Shares) and 1,525,000 Silver47 Share purchase warrants (Silver47 Warrants) upon the closing a statutory plan of arrangement (Arrangement), pursuant to which Silver47 Exploration acquired all the outstanding common shares of Summa Silver Corp (Summa Silver Shares). Pursuant to the Arrangement, among other things, holders of Summa Silver Shares received 0.452 of a Silver47 Share for every Summa Silver Share they held. Mr. Sprott now beneficially owns over 10% of the outstanding Silver47 Shares.

Summa Silver holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 22,972,200 Summa Silver Shares and 3,375,000 Summa Silver Share purchase warrants, representing approximately 15.3% of the outstanding Summa Silver Shares on a non-diluted basis, and approximately 17.2% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott no longer holds any securities of Summa Silver, and Mr. Sprott (as well as 2176423 Ontario Ltd.) ceased to be insiders of Summa Silver.

Silver47 Exploration holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 5,500,000 Silver47 Shares and 750,000 Silver47 Warrants, representing approximately 7.8% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 8.8% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott now beneficially owns 15,883,424 Silver47 Shares and 2,275,000 Silver 47 Warrants representing approximately 11.5% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 12.9% on a partially diluted basis assuming exercise of such warrants

Mr. Sprott has a long-term view of the investment in Silver47 Exploration securities and may acquire additional securities of Silver47 Exploration including on the open market or through private acquisitions or sell 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.

Summa Silver is located at 918-1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3. Silver47 Exploration is located at 551-409 Granville St., Vancouver, British Columbia, V6C 1T2 A copy of the relevant early warning report with respect to the foregoing will appear on Summa Silver’s or Silver47 Exploration’s profile, as applicable, on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario, M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260984

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

previous post
Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump
next post
Zinc Price Update: H1 2025 in Review

Related Posts

Prismo Metals Announces Closing of Oversubscribed Private Placement

August 9, 2025

Top 5 Canadian Mining Stocks This Week: Euro...

April 1, 2025

Financial Agreement signed releasing $2M grant

January 23, 2025

A$3M Placement to Advance High-Impact Workplan for Peru

January 23, 2025

Rare Earths Firm MP Materials to Get US$400...

July 14, 2025

Tech 5: US Government Strikes Big Tech Deal,...

August 17, 2025

High-Grades up to 65g/t Au at Second Fortune...

February 10, 2025

Group Eleven Announces Uplisting to OTCQB Market

May 24, 2025

Trump Threatens to Double Tariffs on Canadian Steel...

March 13, 2025

SAGA Metals Completes Final Preparations for Maiden Drill...

January 27, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 2

      DeepSeek hit with large-scale cyberattack, says it’s limiting registrations

      January 28, 2025
    • 3

      Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

      January 23, 2025
    • 4

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 27, 2025
    • 5

      UnitedHealthcare taps company veteran Tim Noel as new CEO following Brian Thompson killing

      January 27, 2025
    • 6

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • 7

      Lara Trump to host weekend show on Fox News

      February 7, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: thefinancialcomet.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 thefinancialcomet.com | All Rights Reserved