Toronto, Ontario--(Newsfile Corp. - June 2, 2021) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership of 3,750,000 common shares of GoldSpot Discoveries Corp. through a bought deal public offering, representing approximately 3.4% of the outstanding common shares on a non-diluted basis at $0.80 per share for aggregate consideration of $3,000,000.

Mr. Sprott now owns and controls 14,001,332 shares representing approximately 12.8% of the outstanding common shares on a non-diluted basis. Prior to this acquisition, Mr. Sprott beneficially owned and controlled 10,251,332 shares representing approximately 10.8% of the then outstanding common shares on a non-diluted basis.

The common shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of GoldSpot Discoveries including on the open market or through private acquisitions or sell securities of GoldSpot Discoveries including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

GoldSpot Discoveries is located at 69 Yonge Street, Suite 1010, Toronto, ON M5E 1K3. A copy of 2176423 Ontario's early warning report will appear on GoldSpot Discoveries' profile on SEDAR and may also be obtained by calling (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86256