Toronto, Ontario - August 17, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Further to the press release of Jayden Resources Inc. ("Jayden") dated August 13, 2018, Eric Sprott announces that 2176423 Ontario Ltd. ("2176423 Ontario"), his holding company, has entered into a voting support agreement with Jayden and Ascot Resources Ltd. ("Ascot") in connection with Ascot's proposed acquisition (the "Transaction") of all of the shares of Jayden's subsidiary, Jayden Resources (Canada) Inc., in exchange for Ascot common shares. 2176423 Ontario holds 12,500,000 common shares of Jayden ("Shares") and 12,500,000 Share purchase warrants ("Warrants"), representing approximately 14.2% of the outstanding Shares and 24.8% on a partially diluted basis assuming exercise of such Warrants.
2176423 Ontario has agreed, among other things, to vote Shares (and, if applicable, Warrants) in favour of the Transaction, to restrict trading of common shares of Ascot until the closing of the Transaction (or the termination of the voting support agreement, if earlier), and to not take any action which might reasonably be regarded as likely to reduce the success of or interfere with the completion of the Transaction.
Mr. Sprott intends to hold the Shares and Warrants through 2176423 Ontario for investment purposes and to support the Transaction, and may acquire additional securities of Jayden from time to time. If the Transaction does not close, Mr. Sprott may acquire additional securities of Jayden either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Jayden is located at 1075 West Georgia Street, Suite 1980, Vancouver, British Columbia, V6E 3C9. A copy of 2176423 Ontario's early warning report will appear on Jayden's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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