Eric Sprott Announces Changes to His Holdings of Gold Terra Resource Corp.

Executive Summary

• Eric Sprott, through 2176423 Ontario Ltd., acquired an additional 20 million common shares of Gold Terra Resource Corp. at $0.10 per share for a total consideration of $2 million.
• The acquisition raises Mr. Sprott’s beneficial ownership to approximately 10.7% of the outstanding shares, triggering the filing of an early‑warning report under Canadian securities regulations.
• The transaction consisted of a private placement (5 million shares) and a concurrent share purchase agreement (15 million shares).

Key Details

• Acquisition price: $0.10 per common share.
• Total consideration paid: $2,000,000 for 20,000,000 shares.
• Purchase structure:
• Private placement – 5,000,000 shares.
• Share purchase agreement – 15,000,000 shares.
• Pre‑acquisition ownership: Mr. Sprott beneficially owned ~30,000,000 shares (≈7.3% of outstanding).
• Post‑acquisition ownership: Beneficial ownership rises to ~50,000,000 shares (≈10.7% of outstanding), exceeding the 10% threshold.
• Regulatory filing: Early warning report filed with SEDAR+; available at www.sedarplus.ca.
• Purpose of holdings: Shares are held for investment purposes; Mr. Sprott may acquire or dispose of additional securities in the future based on market conditions and strategic considerations.

Notable Quotes

(No direct quotes were provided in the release.)