Eric Sprott acquires stake in Goldgroup Mining

Toronto, Ontario--(Newsfile Corp. - September 28, 2026) - Eric Sprott announces that today 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 994,300 Units of the Goldgroup Mining Inc., through a private placement, at USD$3.65 per Unit for total consideration of $3,629,195. Each Unit consists of one common share (Share) and one-half of one Share purchase warrant (Warrant), with each whole Warrant entitling the holder to acquire one Share at USD$5.10 for 18 months from the date of issuance.

Prior to the Acquisition, Mr. Sprott beneficially owned and controlled 10,934,746 Shares and 3,963,063 Share purchase warrants (Warrants) representing approximately 8.1% of the outstanding Shares on a non-diluted basis and approximately 10.7% of the outstanding Shares on a partially diluted basis assuming the exercise of such Warrants.

Mr. Sprott now beneficially owns and controls 12,154,046 Shares and 4,460,213 Warrants representing approximately 7.2% of the outstanding Shares on a non-diluted basis and approximately 9.6% on a partially diluted basis assuming the exercise of such Warrants. This represents a decrease in holdings of approximately 0.6% on a partially diluted basis from what was reported in the most recent early warning report and a decrease in holdings to less than 10% thereby requiring the filing of an early warning report As a result, Mr. Sprott and 2176423 Ontario ceased to be insiders of Goldgroup Mining.

The Units are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Goldgroup Mining including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Goldgroup Mining is located at 410 - 1111 Melville Street, Vancouver, British Columbia V6E 3V6. A copy of 2176423 Ontario's early warning report will appear on Goldgroup Mining's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 1106 - 7 King Street East, Toronto, Ontario M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316297

TMX Newsfile

September 28, 2026 - 5:35 AM PDT

News by QuoteMedia

www.quotemedia.com