(TheNewswire)
Vancouver, British Columbia - TheNewswire - July 5 th , 2021- Exploits Discovery Corp. (“Exploits” or the“Company”) (CSE:NFLD) (OTC: NFLDF )(FSE:634-FF) (CNSX:NFLD.CN) is pleased to announce Eric Sprott has increa sed hisinvestment in the Company.
2176423 Ontario Ltd., a corporation which isbeneficially owned by Eric Sprott, purchased on June 30, 2021, 6,783,700 common shares of Exploits Discovery Corp.(representing an increase of approximately 5.0 per cent of theoutstanding shares on a partially diluted basis since the filing dateof the most recent early warning report) at a price of $1 per sharefor aggregate consideration of $6,783,700 (the “Shares”). TheShares were purchased by way of private agreement with a single vendorat a price less than 115% of the "market price" of theShares in reliance on the" private agreement exemption" inSection 4.2 of National Instrument 62-104 Take-Over Bids and IssuerBids. 2176423 Ontario Ltd. is beneficially owned by EricSprott.
Mr. Sprott now beneficially owns and controls21,450,367 Shares and 14,666,667 warrants representing approximately21.3% of the outstanding Shares on a non-diluted basis andapproximately 31.3% on a partially diluted basis assuming the exerciseof such warrants. Prior to this acquisition, Mr. Sprott beneficiallyowned and controlled 14,666,667 Shares and 14,666,667 warrants of theCompany (representing approximately 14.6% on a non-diluted basis, and25.4% on a partially diluted basis).
The Shares were acquired by Mr. Sprott, through 2176423Ontario for investment purposes. Mr. Sprott has a long-term view ofthe investment and may acquire additional securities of ExploitsDiscovery. including on the open market or through privateacquisitions or sell securities of Exploits Discovery. including onthe open market or through private dispositions in the futuredepending on market conditions, reformulation of plans and/or otherrelevant factors.
Exploits Discovery Corp. is located at 3043-595 BurrardStreet, Vancouver B.C. V7X 1J1. A copy of 2176423 Ontario's earlywarning report will appear on Exploits Discovery's profile on theSystem for Electronic Document Analysis and Retrieval (SEDAR) atwww.sedar.com and may also be obtained by calling Mr. Sprott's office(416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, SouthTower, Toronto, Ontario M5J 2J1).
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focusedon the acquisition and development of mineral projects inNewfoundland, Canada. The Company currently holds the Jonathan'sPond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, andGazeebow projects covering approximately 2,000 square kilometres ofmineral tenements. The PB Hill project syndicate covers an additionalarea of almost 2,000 square kilometres.
With five permitted drill targets, ample cash reserves, a drillworking and committed through the 2021 season, Exploits is positionedfor discovery.
Exploits believes that the Exploits Subzone Gold Belt, which runs200 km from Dog Bay southwest to Bay d'Espoir, has been neglectedsince the last major exploration campaigns in the 1980s. The last 40years have seen incremental advancements in the understanding of goldmineralization in the camp. The sum of this knowledge is now comingtogether in discrete and effective exploration models that havedelivered results including New Found Gold's 2019 discovery hole. TheExploits Subzone and GRUB regions have been the focus of major stakingand financing since late 2019.
The team at Exploits, with significant local experience and knowledge,have studied the entirety of the Exploits Subzone and surroundingregions, and have picked individual land packages for staking or jointventures, where there are opportunities for world class discoveriesand mine development. Exploits intends to leverage its local team andthe larger shift in geologic understanding and become one of the mostextensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "William M. Sheriff "
Interim President and CEO
For further information, pleasecontact:
Christopher Huggins, Director
Tel: (778) 819-2708
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management's current expectations and assumptions. Suchforward-looking statements reflect management's current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, availability of financing, actual results of the Company'sexploration and other activities, environmental risks, future metalprices, operating risks, accidents, labor issues, delays in obtaininggovernmental approvals and permits, and other risks in the miningindustry. All the forward-looking statements made in this news releaseare qualified by these cautionary statements and those in ourcontinuous disclosure filings available on SEDAR at www.sedar.com . These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
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