Mr. Eric Sprott, investor, reports
ERIC SPROTT ANNOUNCES HOLDINGS IN KIRKLAND LAKE
Eric Sprott, directly and indirectly, owns and controls 20,571,695 common shares of Kirkland Lake Gold Ltd., representing approximately 9.8 per cent of the outstanding shares on a non-diluted basis and 9.9 per cent on a partially diluted basis, assuming the exercise of his options. This press release is being issued pursuant to Canadian early warning requirements because the sale of shares, as described herein, combined with Kirkland Lake's various treasury issuances, has resulted in Mr. Sprott's beneficial holdings of shares to decrease to less than 10 per cent of the outstanding shares.
On Feb. 25, 2019, 2176423 Ontario Ltd., a corporation beneficially owned by Mr. Sprott, sold 318,900 shares through the Toronto Stock Exchange, representing approximately 0.2 per cent of the company's outstanding shares, at a price of approximately $47.05 per share for total consideration of approximately $15-million. Prior to this disposition, Mr. Sprott, directly and indirectly, owned and controlled 20,890,595 shares and options to acquire 150,002 shares, representing approximately 9.9 per cent of the outstanding shares of Kirkland Lake on an undiluted basis and 10 per cent on a partially diluted basis.
The shares are being held 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.
Kirkland Lake is located at 200 Bay St., Suite 3120, Toronto, Ont., M5J 2J1. A copy of the early warning report with respect to the foregoing will appear with Kirkland Gold's profile on SEDAR and may also be obtained by calling 416-362-7172.
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