SPROTT FOCUS TRUST INC. — Director's Dealing 2019

Apr 10, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPROTT FOCUS TRUST INC. (FUND)
CIK: 0000825202
Period of Report: 2019-04-08

Reporting Person: GEORGE W WHITNEY (Director, 10% Owner, Senior Portfolio Manager)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-02	Common Stock	G	15570	$0.00	Disposed	5615358	Direct
2019-01-02	Common Stock	G	5190	$0.00	Acquired	127300	Indirect
2019-04-08	Common Stock	P	10900	$7.0285	Acquired	1583031	Indirect
2019-04-09	Common Stock	P	25000	$7.0092	Acquired	1608031	Indirect
2019-04-09	Common Stock	P	2480	$7.0123	Acquired	5617838	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	514492	Indirect
Common Stock	347058	Indirect
Common Stock	1545377	Indirect

Footnotes

F1: Shares held by a trust established for the benefit of Mr. George's children. As beneficiaries of the trust, Mr. George's children have a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust.

F2: Shares held by The Mallory Descendant's Trust U/T/A DTD 12/31/2013 (the "Descendant's Trust"). Mr. George serves as trustee of the Descendant's Trust and, in such capacity, has investment and voting discretion over shares held by the Descendant's Trust. As a beneficiary of the Descendant's Trust, Mr. George's spouse has a pecuniary interest in the Descendant's Trust. Mr. George may be deemed to beneficially own the shares held by the Descendant's Trust.

F3: Shares held by The Meredith and Whitney George Family Foundation (the "Foundation"). Mr. George serves as Chairman of the Foundation and, in such capacity, has investment and voting discretion over shares held by the Foundation.

F4: Represents transfers as gifts of 5,190 shares to each of Mr. George's three sons, resulting in a cumulative gift transfer of 15,570 shares. Mr. George may be deemed to beneficially own and have a pecuniary interest in the 5,190 shares transferred to the son that resides in Mr. George's household.

F5: Represents the weighted average purchase price of multiple transactions with a range of prices between $7.00 and $7.05. Mr. George hereby undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares purchased at each separate price.

F6: Represents the weighted average purchase price of multiple transactions with a range of prices between $7.00 and $7.02. Mr. George hereby undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares purchased at each separate price.

F7: Amount of shares beneficially owned includes shares acquired under the Issuer's Dividend Reinvestment Program (the "DRIP"). Shares were last acquired under the DRIP on March 29, 2019.