Vancouver, British Columbia – July 5th, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce Eric Sprott has increased his investment in the Company.
2176423 Ontario Ltd., a corporation which is beneficially 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 the outstanding shares on a partially diluted basis since the filing date of the most recent early warning report) at a price of $1 per share for aggregate consideration of $6,783,700. The Shares were purchased by way of private agreement with a single vendor at a price less than 115% of the “market price” of the Shares in reliance on the” private agreement exemption” in Section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids. 2176423 Ontario Ltd. is beneficially owned by Eric Sprott.
Mr. Sprott now beneficially owns and controls 21,450,367 Shares and 14,666,667 warrants representing approximately 21.3% of the outstanding Shares on a non-diluted basis and approximately 31.3% on a partially diluted basis assuming the exercise of such warrants. Prior to this acquisition, Mr. Sprott beneficially owned and controlled 14,666,667 Shares and 14,666,667 warrants of the Company (representing approximately 14.6% on a non-diluted basis, and 25.4% on a partially diluted basis).
The Shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Exploits Discovery. including on the open market or through private acquisitions or sell securities of Exploits Discovery. including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Exploits Discovery Corp. is located at 3043-595 Burrard Street, Vancouver B.C. V7X 1J1. A copy of 2176423 Ontario’s early warning report will appear on Exploits Discovery’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and may also be obtained by calling Mr. Sprott’s office (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company currently holds the Jonathan’s Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, and Gazeebow projects covering approximately 2,000 square kilometres of mineral tenements. The PB Hill project syndicate covers an additional area of almost 2,000 square kilometres.
With five permitted drill targets, ample cash reserves, a drill working and committed through the 2021 season, Exploits is positioned for discovery.
Exploits believes that the Exploits Subzone Gold Belt, which runs 200 km from Dog Bay southwest to Bay d’Espoir, has been neglected since the last major exploration campaigns in the 1980s. The last 40 years have seen incremental advancements in the understanding of gold mineralization in the camp. The sum of this knowledge is now coming together in discrete and effective exploration models that have delivered results including New Found Gold’s 2019 discovery hole. The Exploits Subzone and GRUB regions have been the focus of major staking and financing since late 2019.
The team at Exploits, with significant local experience and knowledge, have studied the entirety of the Exploits Subzone and surrounding regions, and have picked individual land packages for staking or joint ventures, where there are opportunities for world class discoveries and mine development. Exploits intends to leverage its local team and the larger shift in geologic understanding and become one of the most extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ “William M. Sheriff ”
Interim President and CEO
For further information, please contact:
Christopher Huggins, Director
Tel: (778) 819-2708
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.