Eric Sprott Announces Changes to His Holdings in Kirkland Lake Discoveries Corp.

Eric Sprott injected $320,000 into Kirkland Lake Discoveries via warrant exercise while his stake dropped below insider reporting thresholds.

Rhea-AI Summary

Eric Sprott, through 2176423 Ontario Ltd., exercised 4,000,000 Kirkland Lake Discoveries (KLKLF) warrants on September 8, 2026 at $0.08 per share, for total consideration of $320,000.

Before the exercise, he held 13,009,250 common shares and 6,000,000 warrants, representing about 6.3% of outstanding shares on a non-diluted basis and 9.0% on a partially diluted basis. Following the exercise, he holds 17,009,250 shares and 2,000,000 warrants, or approximately 8.1% on a non-diluted basis and 9.0% on a partially diluted basis, assuming exercise of those warrants.

Due to the warrant exercise combined with prior new share issuances, Sprott’s ownership on a partially diluted basis decreased by about 1.7% since the last early warning report and his non-diluted holdings fell below 10%, causing him and 2176423 Ontario Ltd. to cease being insiders of Kirkland Lake Discoveries.

Positive

• $320,000 cash proceeds from exercise of 4,000,000 warrants at $0.08
• Sprott’s non-diluted shareholdings increased to 17,009,250 shares (8.1%)

Negative

• Sprott’s partially diluted ownership decreased by 1.7% since the last early warning report
• Sprott and 2176423 Ontario Ltd. ceased to be insiders of Kirkland Lake Discoveries

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Toronto, Ontario--(Newsfile Corp. - September 8, 2026) - Eric Sprott announces that, today, 2176423 Ontario Ltd. (a corporation he beneficially owns) exercised 4,000,000 common share purchase warrants (Warrants) of Kirkland Lake Discoveries Corp. at $0.08 per common share (Share) for aggregate consideration of $320,000.00. Prior to such exercise, Mr. Sprott beneficially owned and controlled 13,009,250 Shares and 6,000,000 Warrants representing approximately 6.3% of the outstanding Shares on a non-diluted basis and approximately 9.0% on a partially diluted basis assuming the exercise of all such Warrants.

Mr. Sprott now beneficially owns and controls 17,009,250 Shares and 2,000,000 Warrants representing approximately 8.1% of the outstanding Shares on a non-diluted basis and approximately 9.0% on a partially diluted basis assuming the exercise of such Warrants. The exercise of Warrants combined with previous new Share issuances by Kirkland Lake Discoveries resulted in an ownership decrease, on a partially diluted basis, of approximately 1.7% since the date of the last Early Warning Report and brings total holdings to under 10% on a non-diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd., ceased to be insiders of Kirkland Lake Discoveries.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities 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.

Kirkland Lake Discoveries is located at 1055 West Georgia Street, Suite 2129, Vancouver, British Columbia V6E 3P3. A copy of the early warning report with respect to the foregoing will appear on Kirkland Lake Discoveries' 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., 7 King Street East, Suite 1106, Toronto, Ontario M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313491

FAQ

What were Eric Sprott’s holdings in Kirkland Lake Discoveries before exercising the warrants?

Before the warrant exercise, Eric Sprott beneficially owned and controlled 13,009,250 common shares and 6,000,000 warrants of Kirkland Lake Discoveries, representing about 6.3% of the outstanding shares on a non-diluted basis and about 9.0% on a partially diluted basis, assuming exercise of those warrants.

What are Eric Sprott’s current holdings after the warrant exercise?

After exercising 4,000,000 warrants, Eric Sprott now beneficially owns and controls 17,009,250 common shares and 2,000,000 warrants, representing approximately 8.1% of the outstanding shares on a non-diluted basis and about 9.0% on a partially diluted basis, assuming exercise of the remaining warrants.

Why did Eric Sprott and 2176423 Ontario Ltd. cease to be insiders of Kirkland Lake Discoveries?

His ownership on a partially diluted basis decreased by about 1.7% since the last early warning report, and his non-diluted holdings moved below 10%. As a result, Eric Sprott and 2176423 Ontario Ltd. ceased to meet the insider threshold for Kirkland Lake Discoveries.

What are Eric Sprott’s stated intentions regarding his investment in Kirkland Lake Discoveries?

The securities are held for investment purposes. The company states that Eric Sprott has a long-term view of the investment and that he may buy additional securities or sell securities in the future, either on the open market or through private transactions, depending on market conditions, changes to his plans, and other relevant factors.

Where can investors obtain the related early warning report?

A copy of the early warning report will be available on Kirkland Lake Discoveries’ profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Eric Sprott’s office at (416) 945-3294.