Eric Sprott Announces Changes to His Holdings in Silver Storm Mining Ltd

Executive Summary

• Eric Sprott, through 2176423 Ontario Ltd., exercised 13,636,364 common share purchase warrants of Silver Storm Mining Ltd. at $0.16 per share for an aggregate consideration of $2,181,818.08.
• The exercise increased Mr. Sprott’s beneficial ownership to 11.9% (non‑diluted) and 13.3% (partially diluted) of Silver Storm Mining’s outstanding shares, representing a partially diluted ownership change greater than 2%, triggering an early‑warning report update.
• No operational, financial, or strategic changes to the company were disclosed; the securities are held for investment purposes.

Key Details

• Warrant Exercise: 13,636,364 warrants exercised at $0.16 per share → total cash consideration $2,181,818.08.
• Pre‑exercise Ownership (Mr. Sprott):
• 82,132,565 Shares + 26,891,920 Warrants = ~10.4% non‑diluted, ~13.3% partially diluted.
• Post‑exercise Ownership (Mr. Sprott):
• 95,768,929 Shares + 13,255,556 Warrants = 11.9% non‑diluted, 13.3% partially diluted.
• Ownership Change: Partially diluted ownership increase >2%, necessitating an early‑warning report filing per regulatory requirements.
• Purpose of Holdings: Held for investment; no immediate intent to sell or further acquire disclosed.

Notable Quotes

(No executive quotes were provided in the release.)