Sprott has direct or indirect beneficial ownership or control over 27,813,178 ordinary shares (representing approximately 7.7% of the issued and outstanding ordinary shares), and may be considered to be a joint actor of Explo 2008 for purposes of this Transaction.
Explo 2008 has beneficial ownership over 10,000,000 ordinary shares (representing approximately 2.8% of the issued and outstanding ordinary shares), and may be considered to be a joint actor of Sprott for purposes of this Transaction.
The ordinary shares were acquired for investment purposes. Sprott and Explo 2008 may increase or decrease their investment in Heron depending on market conditions or any other relevant factors.
A copy of an "Early Warning Report" filed with the applicable Canadian securities regulatory authorities will be available under Heron's profile at www.sedar.com and may also be obtained by contacting
SOURCE Sprott Inc.
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