Snowline Gold Sees Major Shareholder Return After Warrant Exercise

Snowline Gold (TSXV: SGD) has seen the return of a major shareholder following the exercise of $12.5 million in outstanding warrants.

Ana Maria Cox de Gubbins has increased her stake in the company to 10.6% via the exercise of 5.0 million common share purchase warrants at a price of $2.50 per each. The exercise, while adding $12.5 million in capital to Snowline’s treasury, increased her ownership stake from 7.6% to 10.6% of the company.

Cox de Gubbins now collectively holds 16.12 million common shares of Snowline, a stake worth $97.2 million as of Thursday’s close.

It’s not the first time Cox de Gubbins has been labeled as an insider of Snowline. She first appeared on insider filings for the company in July 2022, at the time reporting ownership over 11.12 common shares of the issuer. Subsequent dilution by Snowline however pushed her ownership stake below the 10% reporting requirement level on an undiluted basis.

READ: How is Snowline Gold Bucking the Trend?

Cox de Gubbins also holds a major stake in Sitka Gold, following a $4.0 million investment she made in August 2023, which at the time resulted in a 14.3% interest in the company on a partially diluted basis.

Snowline Gold last traded at $6.03 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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