Eric Sprott Announces Changes to His Holdings in Electric Metals (USA) Limited

Core Points - Eric Sprott's corporation, 2176423 Ontario Ltd., acquired 3,333,333 units of Electric Metals (USA) Limited at a price of $0.30 per unit, totaling approximately $1,000,000 [1] - Each unit consists of one common share and one-half of a share purchase warrant, with each whole warrant allowing the purchase of one share at $0.45 for 18 months [1] - Following the acquisition, Sprott's total holdings increased to 17,727,272 shares and 5,833,333 warrants, representing approximately 8.8% of outstanding shares on a non-diluted basis and 11.4% on a partially-diluted basis [2] Summary of Holdings - Prior to the acquisition, Sprott owned 14,393,939 shares and 4,166,666 warrants, which represented about 7.7% of outstanding shares on a non-diluted basis and 9.7% on a partially-diluted basis [2] - The recent acquisition resulted in an increase in holdings above 10%, necessitating the filing of an early warning report [2] Investment Intent - The securities are held for investment purposes, with a long-term view on the investment [3] - Sprott may consider acquiring additional securities or selling existing ones based on market conditions and other relevant factors [3]