Calico Resources Corp. (TSXV:CKB) announced that Seabridge Gold Inc. (TSX:SEA,NYSE:SA) has acquired 1,671,000 common shares of Calico upon exercise of 1,671,000 Special Warrants.
As quoted in the press release:
The Acquired Shares represent 3.3% of the outstanding shares of Calico. In total, Seabridge now owns and controls 10,104,000 common shares of Calico and 2,896,000 Special Warrants of Calico, representing 19.99% of the outstanding common shares and 100% of the outstanding Special Warrants of Calico. Each Special Warrant is exercisable to acquire one additional common share of Calico (a “Special Warrant Share”) for no additional consideration. The Special Warrants can only be exercised to the extent that, after exercise, Seabridge holds less than 20% of the outstanding shares of Calico. If Seabridge could and did exercise the Special Warrants in full, it would hold 13,000,000 common shares of Calico, representing 24.3% of Calico’s outstanding shares. Seabridge is not acting jointly or in concert with any person.