Eric Sprott Announces Changes to His Holdings in Trigon Metals Inc.

Rhea-AI Summary

Eric Sprott announced that 2,500,000 warrants of Trigon Metals (OTC: PNTZF) expired unexercised on October 24, 2025, reducing his partially diluted holdings by approximately 5.8%.

Prior to expiry he beneficially owned 6,509,666 common shares and 2,500,000 warrants (about 11.9% non-diluted; 15.7% partially diluted). After expiry he continues to beneficially own 6,509,666 shares representing 11.9% non-diluted. The partial-dilution change exceeded 2%, prompting an updated early warning filing. Securities are held for investment; Mr. Sprott may buy or sell additional securities in the future.

Positive

• Beneficial ownership remains at 6,509,666 shares
• Non-diluted stake remains at 11.9%
• Early warning update filed after >2% partially diluted change

Negative

• Expiry of 2,500,000 warrants reduced partially diluted stake by ~5.8%
• Partially diluted ownership declined from 15.7% to 11.9%
• Holder may buy or sell additional securities, creating potential share-pressure

Toronto, Ontario--(Newsfile Corp. - October 27, 2025) - Eric Sprott announces that, on October 24, 2025, 2,500,000 common share purchase warrants (Warrants) of Trigon Metals Inc. held by Sprott Mining Inc., a corporation beneficially owned by him, expired unexercised representing a decrease in holdings of approximately 5.8% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to such expiry, Mr. Sprott beneficially owned and controlled 6,509,666 Shares and 2,500,000 Warrants representing approximately 11.9% of the outstanding Shares on a non-diluted basis and approximately 15.7% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the expiry of the Warrants, Mr. Sprott now beneficially owns 6,509,666 Shares representing approximately 11.9% of the outstanding Shares on a non-diluted basis. The Warrant expiry resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.

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.

Trigon Metals address is 658 Lansdowne Avenue, Toronto, Ontario, M6H 3Y8. A copy of the early warning report with respect to the foregoing will appear on Trigon Metals's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (Sprott Mining Inc., 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/271924

FAQ

What happened to Eric Sprott's Trigon Metals (PNTZF) holdings on October 24, 2025?

On October 24, 2025 2,500,000 warrants expired unexercised, reducing his partially diluted holdings by ~5.8%.

How many Trigon Metals (PNTZF) shares does Eric Sprott beneficially own after the warrant expiry?

He beneficially owns 6,509,666 shares, representing approximately 11.9% of outstanding shares on a non-diluted basis.

Why was an early warning update filed for Eric Sprott and Trigon Metals (PNTZF)?

The warrant expiry caused a partially diluted ownership change of greater than 2%, triggering an updated early warning filing.

Did Eric Sprott sell any Trigon Metals (PNTZF) shares in this transaction?

No; the change resulted from warrants expiring unexercised, not from a sale of shares.

Could Eric Sprott buy or sell more Trigon Metals (PNTZF) securities after October 24, 2025?

Yes; the announcement states he may acquire or dispose of additional securities in the future depending on market conditions.