Toronto, Ontario–(Newsfile Corp. – December 4, 2025) – Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 5,000,000 units (Units) of Galleon Gold Corp. through a private placement, at $0.60 per Unit for aggregate consideration of $3,000,000. 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 an exercise price of $0.75 until December 4, 2026.
Prior to this acquisition, Mr. Sprott beneficially owned 13,958,510 Shares, $2,000,000 principal amount of convertible debentures and 3,030,000 Warrants, representing approximately 18.0% of the outstanding Shares on an undiluted basis and approximately 29.2% of the outstanding Shares on a partially diluted basis assuming exercise of such Warrants and conversion of all such debentures (for 9,230,138 Shares). As a result of this acquisition, Mr. Sprott now beneficially owns 18,958,510 Shares, $2,000,000 principal amount of convertible debentures and 5,530,000 Warrants, representing approximately 14.9% of the outstanding Shares on an undiluted basis and approximately 23.7% of the outstanding Shares on a partially diluted basis assuming exercise of such Warrants and conversion of all such debentures. This acquisition of Units, combined with prior and concurrent additional Share issuances by the Corporation, resulted in a decrease in holdings of approximately 6.7% of the outstanding Shares on a partially diluted basis since the date of the last 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.
Galleon Gold’s address is 161 Bay St. 27th Floor, TD Canada Trust Tower, Toronto, Ontario, M5J 2S1. A copy of the early warning report with respect to the foregoing will appear on Galleon Gold’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., 7 King Street East, Suite 1106, Toronto, Ontario M5C 3C5).
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COMTEX_470803865/2523/2025-12-04T15:30:59