- Eric Sprott has reduced his position in KORE Mining (KORE) by 29,508,444 common shares
- The disposition brings his stake to 0.9 per cent, down from over 26 per cent of outstanding shares on a partially-diluted basis
- The sale was made under the mistaken assumption that ownership was under 20 per cent
- The parties are in discussions to resolve any lingering issues
- KORE Mining operates gold exploration and development assets in California
- KORE Mining (KORE) is unchanged, trading at $0.03 per share
Eric Sprott has reduced his position in KORE Mining (KORE) by 29,508,444 common shares.
The transaction, made by 2176423 Ontario Ltd., a corporation beneficially owned by Sprott, raised aggregate consideration of C$699,350.12 at $0.0237 per share.
The sale represents 25.6 per cent of outstanding shares on a non-diluted basis.
Sprott now owns and controls 1,095,000 share purchase warrants representing 0.9 per cent of outstanding shares on a partially-diluted basis. As a result, Sprott and 2176423 Ontario Ltd. ceased to be KORE insiders.
The sale was made under the mistaken belief that holdings were under 20 per cent of outstanding shares.
The corporation is in discussions with KORE’s principal securities regulator to resolve any lingering issues.
KORE Mining operates gold exploration and development assets in California.
KORE Mining (KORE) is unchanged, trading at $0.03 per share as of 10:48 am EST.
