Sec Form 13D Filing - Sprott Eric filing for Kirkland Lake Gold Ltd.Kirkland Lake Gold Ltd. - 2020-03-03

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Eric Sprott

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

SEC USE ONLY

SOURCE OF FUNDS (See Instructions)

PF, OO (See Item 3 for details)

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)

☐

CITIZENSHIP OR PLACE OF ORGANIZATION

Canadian

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

SOLE VOTING POWER

10,718,951⁽¹⁾

SHARED VOTING POWER

—

SOLE DISPOSITIVE POWER

10,718,951⁽¹⁾

SHARED DISPOSITIVE POWER

—

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

10,718,951⁽¹⁾

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)

☐

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

3.7%⁽²⁾

TYPE OF REPORTING PERSON (See Instructions)

IN

Includes (a) 1,730,231 Common Shares (as defined herein) held of record by 2176423 Ontario Ltd. (“2176423 Ontario”), (b) 200,003 Common Shares held of record by Lariscan Enterprises Inc (“Lariscan Enterprises”) and (c) 1,760,024 Common Shares held of record by The Sprott Foundation (“Sprott Foundation”). The Reporting Person (as defined herein) controls each of 2176423 Ontario, Lariscan Enterprises and Sprott Foundation and has the power to direct the voting and disposition of Common Shares held by such entities through his ownership interests in such entities and/or his authority as Chief Investment Officer of such entities. See below Item 3 for full details.

The percentage is calculated based upon the sum of: (i) 209,624,480 Common Shares outstanding as of December 31, 2019, as reported in the Kirkland Lake Gold Ltd. Current Report on Form 6-K filed with the Securities and Exchange Commission (the “SEC”) on February 2, 2020 and (ii) 77,217,129 Common Shares issued on January 31, 2020, as reported in the Kirkland Lake Gold Ltd. Current Report on Form 6-K filed with the SEC on January 31, 2020.

Source and Amount of Funds or Other Considerations

7,028,693 Common Shares are owned directly by the Reporting Person;

1,730,231 Common Shares are owned by 2176423 Ontario, a private company incorporated in Ontario, Canada, which is controlled by the Reporting Person;

200,003 Common Shares are owned by Lariscan Enterprises, a private company incorporated in Ontario, Canada, which is controlled by the Reporting Person; and

1,760,024 Common Shares are owned by Sprott Foundation, a corporation incorporated under the Canada Not-for-profit Corporations Act, which is controlled by the Reporting Person.

Interest in Securities of the Issuer

As of March 2, 2020, the Reporting Person beneficially owned 10,718,951 Common Shares, representing 3.7% of the outstanding Common Shares based upon the sum of: (i) 209,624,480 Common Shares outstanding as of December 31, 2019, as reported in the Company’s Current Report on Form 6-K filed with the SEC on February 2, 2020 and (ii) 77,217,129 Common Shares issued on January 31, 2020, as reported in the Company’s Current Report on Form 6-K filed with the SEC on January 31, 2020.

The Reporting Person holds sole voting and dispositive power with respect to 10,718,951 Common Shares.

The following sets forth all transactions with respect to the Common Shares effected during the 60 days prior to (and including) March 2, 2020:

On February 7, 2020, the Reporting Person sold 100,000 Common Shares in the open market at a sale price of CAD 47.94 per share.

On February 10, 2020, the Reporting Person sold 150,000 Common Shares in the open market at a sale price of CAD 48.79 per share.

On February 11, 2020, the Reporting Person sold 100,000 Common Shares in the open market at a sale price of CAD 48.89 per share.

On February 18, 2020, the Reporting Person sold 160,518 Common Shares in the open market at a sale price of CAD 50.31 per share.

On February 21, 2020, the Reporting Person sold 150,000 Common Shares in the open market at a sale price of CAD 48.32 per share.

On February 27, 2020, the Reporting Person sold 73,100 Common Shares in the open market at a sale price of CAD 46.90 per share.

On February 28, 2020, the Reporting Person sold 126,900 Common Shares in the open market at a sale price of CAD 42.77 per share; and

On March 2, 2020, the Reporting Person sold 2,000,000 Common Shares in the open market at a sale price of CAD 43.75 per share.

No person other than the Reporting Person is known to have the right to receive, or the power to direct the receipt of, dividends from, or proceeds from the sale of, the Common Shares reported in this Statement.

The Reporting Person ceased to be the beneficial owner of more than 5% of the Company’s Common Stock as of January 31, 2020, based upon the sum of: (i) 209,624,480 Common Shares outstanding as of December 31, 2019, as reported in the Company’s Current Report on Form 6-K filed with the SEC on February 2, 2020 and (ii) 77,217,129 Common Shares issued on January 31, 2020, as reported in the Company’s Current Report on Form 6-K filed with the SEC on January 31, 2020.

Dated

/s/Eric Sprott

Signature

Eric Sprott

Name/Title